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.
Bank of America has launched Trade Pro, an electronic platform for companies to manage trade and financial supply chain operations.
Citigroup Inc. has reached a long-term agreement to provide credit services for the retailer coalition BrandSource.
The New York Investment firm Prospect Capital Corp. has agreed to acquire a majority stake in specialty-finance company, First Tower Corp., for roughly $266 million.
Making good on its promise to continue to grow through acquisitions, Iberiabank Corp. in Lafayette, La., announced Monday that it is buying the $350 million-asset Florida Gulf Bancorp Inc. in Fort Myers for up to $48.1 million in stock and cash.
Citizens Financial Group in Providence, R.I., has become the latest banking company to increase fees on its checking accounts.
SunTrust Banks Inc. will make several changes in its executive lineup, including top officers in retail banking.
But the deal has not received support from Misys' largest shareholder, which is contemplating a rival offer.
United Security Bancshares Inc. in Thomasville, Ala., reported a fourth-quarter loss of $9.5 million, compared with a loss of $6.5 million a year earlier, as it recorded a $4.1 million goodwill impairment charge to reflect continued weakness in its real estate portfolio.
Two leaders synonymous with Synovus, former CEOs James H. Blanchard and Richard E. Anthony, will not stand for re-election. Current CEO Kessel Stelling says the change will not sway its attitudes toward staying independent or selling itself.
Seacoast Commerce Bank in Chula Vista, Calif., will open its first loan-production office in Utah.
Orrstown Financial Services Inc. in Shippensburg, Pa., said it expects to reach formal agreements with regulators that could require it to strengthen its credit risk management practices.
United Community Financial Corp. in Youngstown, Ohio reported a fourth-quarter profit of $7.9 million, compared with a loss of $17.3 million a year earlier, after selling four branches.
Peoples Financial Corp. in Biloxi, Miss., revised its fourth-quarter and 2011 results to record an additional $660,000 for its loan-loss provision.
MetroCorp Bancshares in Houston has revised its fourth-quarter earnings to reflect a $3 million goodwill impairment charge relating to a drop in its market value.
First Mariner Bancorp Inc. in Baltimore is looking to grow its mortgage business even as it continues to deal with elevated levels of loan losses and a shrinking balance sheet.
Citigroup has renewed a long-term deal to continue issuing private-label credit cards for Citgo Petroleum Corp., the bank said Thursday.
Reading Co-Operative Bank in Massachusetts is deploying a new core processing system by COCC to enable employees to deliver paperless, "high touch" services.
A securities class-action lawsuit against Wilshire Bancorp Inc. in Los Angeles has been dismissed after the plaintiffs failed to file an amended complaint in the case.
ECB Bancorp Inc. will no longer buy the deposits and certain assets of seven North Carolina branches from Hampton Roads Bankshares Inc. in Norfolk, Va., after funding for the deal fell through.
MB Financial Inc. in Chicago has repurchased $196 million of preferred shares issued to the Treasury Department as part of the Troubled Asset Relief Program.
