Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
New York Community Bancorp in Westbury, N.Y., reported higher third-quarter earnings after a debt repositioning last year helped its net interest income.
Executives pointed to cost reductions, revenue opportunities and improving returns as early indications of success. Management also touted Key's quick response to a integration snafu that "impacted a very small percentage" of First Niagara clients.
KeyCorp in Cleveland posted lower profit after merger-related costs cut into its bottom line.
The acquisition of Middleburg Financial would create a nearly $2.5 billion-asset bank in northern Virginia with strong mortgage originations and a growing wealth management business. It would provide an endgame for Middleburg while also making Access more appealing to potential buyers.
James Cope entered into an agreement with the U.S. Attorney for the Middle District of Tennessee to plead guilty to one count of insider trading; he will serve a two-year probationary sentence.
Heather Russell, who was fired earlier this year as Fifth Third Bancorp's chief legal officer, has re-emerged in a new role.
BancorpSouth in Tupelo, Miss., reported higher third-quarter earnings after net interest and fee revenue improved from a year earlier.
Synovus Financial in Columbus, Ga., posted higher third-quarter earnings after booking more loans across several lending categories.
Heightened regulatory scrutiny, stricter credit-quality reviews by buyers themselves, cautiousness over systems conversions and other factors have added about three weeks to deal closings in recent years. There are inherent risks in that trend and ways to minimize them.
It's been a tough year for farmers, and lenders are looking for ways to help those borrowers offset sagging income.