Chris Cumming

CertusBank fired its founders for providing inaccurate budgets and for failing to devise a strategy after its failed-bank deals dried up, the Greenville, S.C., company said in court filings.

Subpoenas have been issued by South Carolina's Attorney General's Office in connection to allegations of financial mismanagement by former executives of CertusBank.

Multibank holding companies that have long resisted consolidating their banks are finally giving in. The switch can offer a range of advantages beyond improved efficiency, but choosing the right moment for a consolidation — and making sure not to spook customers — can be tricky.

Banamex Fraud Claims Jobs; ECB May Ease Policy

A founding director at Touchmark Bancshares in Georgia claims he was ousted after questioning the bank's strategy. Now he is lobbying for the company's sale.

The New York company has emerged from a regulatory order with a stated goal of branching out from a longtime focus on commercial real estate by adding specialty-lending lines. Now management is looking to leverage a huge cash buffer and strong deposit base.

CertusBank in Greenville, S.C., continues to lose money, largely because of high expenses. The $1.6 billion-asset company lost $9 million in the first quarter, according to a call report filed with the Federal Deposit Insurance Corp.

Wells Fargo (WFC) has set itself an ambitious target as it seeks to raise its profile among small-business customers.

Banks issued at least $12.3 billion in subordinated debt last year, far more than what they issued in any year since the financial crisis. A big factor is investor demand, which has been stimulated by a need for higher-yielding holdings.

Linda Cox, a former comptroller of First South Bank in Spartanburg, S.C., committed suicide after being questioned by the Federal Bureau of Investigation about missing funds at the bank, the Greenville News reported on Saturday.

Many mutuals feel pressure to sell or switch charters. But there's another option.

Korean-American banks have been challenged by an aging core customer base, which threatens growth. Hanmi Chief Executive C.G. Kum plans to respond with a national SBA program and plans to court other immigrant communities.

Three of Certus' ousted executives depict a behind-the-scenes struggle at the Greenville, S.C., bank as management, directors and investors were often working at cross purposes. The lawsuit also discusses a possible merger with an unnamed bank that never took place.

Bigger banks have shifted their efforts to deposit growth in advance of proposed liquidity rules. As a result, community banks are seeing more opportunities to lend, particularly in commercial lines that were once the domain of larger lenders.

The lawsuit claims that Benjamin Weinger of 3-Sigma Value conspired with certain directors to defame the executives before the board fired them earlier this month.

Board members and prospects are nervous about personable liability, given a rise in government lawsuits against former directors of failed banks. While banks typically carry insurance for directors, it is unclear how much protection those policies provide.

PrivateBancorp (PVTB) in Chicago beat quarterly earnings estimates as its lending revenue and credit quality continued to improve.

Executives at U.S. Bancorp, PNC and Huntington all sounded cautiously optimistic about lending opportunities and each has a favorite region when it comes to finding borrowers.

Citigroup's (NYSE: C) better-than-expected quarterly results offered a break from months of bad news, but it will have to be a short one.

Behind Citigroup's first-quarter results that momentarily pleased investors are darker signs: rising legal and restructuring costs that take away from efforts to reenergize revenue.