Chris Cumming

Citigroup has begun forgiving some consumer debt in accordance with a July settlement with the Justice Department, but this is relief that the bank may have provided even without the settlement, an independent monitor said Wednesday.

Smaller banks are eager to launch new businesses to increase noninterest income. But a new survey indicates that many are struggling to generate returns from such endeavors.

It hasn't been easy for banks to get out of loss-sharing agreements with the FDIC, but Bank of the Ozarks recently secured the most significant early-termination deal yet. It could be a sign that banks and the regulator are getting on the same page.

A judge has named Deerwood Bank winner of the bankruptcy auction for American Bank of St. Paul, in the first test of involuntary bankruptcy as a means of resolving trust-preferred debt.

John Poelker joined a bank in crisis when he agreed to lead Certus in April. His efforts to turn around a crisis-riddled South Carolina company make him one of American Banker's 2015 community bankers to watch.

Andrew Samuel left Susquehanna Bancshares, where he was in line to become CEO, to run the tiny Sunshine Bancorp in Florida. While Susquehanna recently agreed to sell itself to BB&T, Samuel has been working furiously to hire and expand at his new employer.

Disciplined pursuit of acquisitions and efficient management of a complex business model have earned Mick Blodnick, the retiring CEO of Montana's largest bank, a spot as one of American Banker's three community bankers of the year.

A controversial plan to reform the bankruptcy code would shift the balance of power between debtors and creditors, resulting in extensive — but difficult to forecast — changes to the banking industry.

Bidding is over in the first bankruptcy auction to be held at the demand of trust-preferred creditors, but there's no clear winner.

Bidding is over in the first bankruptcy auction to be held at the demand of trust-preferred creditors, but there's no clear winner.

Georgia once was known as the state hit with the most bank failures. Renasant's agreement to buy Heritage Financial in Albany, Ga., is the latest of several deals where buyers have paid strong premiums to enter or expand in the state.

In at least three recent instances, trust-preferred investors have filed lawsuits against lenders who either bought or sold banks in transactions designed to bypass such debtholders.

The Freedom Bank of Virginia has extended the deadline for its $4 million stock offering in response to investors' requests for more time.

Two community banks recently were permitted to transfer cash to their holding companies. It could be a sign that regulators are changing their attitudes toward such payments now that banks have healthier capital levels.

UMB Bank's strong fee revenue and cheap deposits give it leeway to compete on loan pricing, employing a strategy often used by much larger banks. Mike Hagedorn, the 100-year-old bank's chief executive, also discussed UMB's renewed interest in disciplined M&A.

Steven Sugarman, chief executive at Banc of California, recently completed a large branch acquisition after a public battle with an advocacy group. In a recent interview, he discussed that process as well as the bank's busy year — both the good and the bad.

Pennant Management, which says it bought $179 million in bogus USDA-backed loans, claims the agency put up barriers to verifying the loans that indirectly enabled the alleged fraud.

Prime brokerage clients (read hedge funds) are the latest kind of customer being cut loose by banks as they curtail business with parties deemed high risk. Other banks are being careful about the castoffs they recruit, and nonbank brokers are on the rise.

The ousted founders of CertusBank in Greenville, S.C., have filed a new lawsuit against a hedge fund investor.

Puerto Rico's economy has been in disarray for eight years, and it's taken many banks down with it. OFG weathered the financial crisis and is considering how to capitalize on its status as the island's healthiest bank.