Allissa Kline is a Buffalo, New York-based reporter who writes about national and regional banks and commercial and retail banking trends. She joined American Banker in 2020 and previously worked for more than a decade at Buffalo Business First, where she covered banking and finance, insurance and accounting. Kline started her journalism career at the Observer-Dispatch in Utica, New York. She graduated from Colgate University and the S.I. Newhouse School of Public Communications at Syracuse University.
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CEO Thomas Cangemi is pushing to modernize a bank that for decades was focused largely on multifamily lending. The company has already agreed to buy the mortgage lender Flagstar Bancorp and its partnership with Figure Technologies, a blockchain-focused fintech, has the potential to make that acquisition more productive.
August 18 -
M&T in New York, which is seeking regulatory approval to buy People’s United Financial, recently disclosed plans for around 1,000 layoffs. The backlash — focused on job cuts in the seller’s hometown of Bridgeport — has been stronger than in other recent deals.
August 15 -
The announcement came a day after Citigroup said it would mandate vaccines for many of its workers. Capital One also said it is delaying its office reopening.
August 11 -
The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.
August 9 -
The Rhode Island company has been snapping up banks and nonbanks alike. It says that buying Willamette Management Associates in Oregon will augment its 2017 purchase of Western Reserve Partners.
August 5 -
The agreement will allow the state-backed investment fund to meet surging financing demand for renewable energy projects. It is the largest-ever private fundraising deal by a green bank in the U.S.
August 2 -
Banks are struggling to hire and retain workers in a tight labor market. To stay competitive, they are making concessions on wages and remote work that likely would have been unnecessary before the pandemic.
August 1 -
The longtime global head of liquidity and cash management will step down in the fourth quarter, HSBC announced in an internal memo. She will be replaced by Manish Kohli, Citigroup's global head of payments and receivables.
July 29 -
Flagstar’s main business is lending to nonbank mortgage lenders, and New York Community Bancorp CEO Thomas Cangemi has a plan for tapping those borrowers to drive loan and deposit growth.
July 28 -
Comerica, which focuses on the energy sector, reported strong payment trends last quarter, while M&T, which concentrates more on real estate, showed deterioration. The divergence reflects varying exposures to sectors hit hard by the COVID-19 recession.
July 21
