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.
When Laura Sikora interviewed at BMO Financial 20 years ago, she was struck by the fact that several people asked her what she wanted to do next. She got the message that her aspirations were important to the company, and now she has spearheaded a new micromentoring program to give others help with realizing their career goals. Employees who have specific skills they want to improve can get matched up with a colleague for some customized coaching sessions.
Centric Financial is one of the few publicly traded banking companies with women in the chief executive and chief financial officer roles. Centric is also distinctive for its enviable growth and performance. Those two facts are not purely coincidental, according to President and CEO Patricia Husic.
There's a lot to be done now that KeyCorp has closed on its deal for First Niagara, and it's telling who has been put in charge of the many different facets of the integration. While some might have just a few token women on their leadership team, Key can boast about the diversity of its bench strength.
For several years, Zions Bank has monitored salaries to ensure women aren't being paid less than men for comparable work. Last year, the monitoring went from a semiannual review to a constant lookout.
Arkansas regulators have closed the $66.3 million-asset Allied Bank in Mulberry, the fifth institution to fail this year.
Bankers can bolster investor confidence by showing they are taking a disciplined approach to M&A. That involves thorough due diligence, strong rationales for deals and the ability to step away from the table.
Bankers generally expect loan demand to increase over the next year, but global shocks, domestic politics and regional economic variations may be prompting them to prepare for slightly slower growth than before.
The activist investor is irate that the company's board will not meet to discuss concerns it has over executive compensation and corporate governance.
Banks that are heavily involved in commercial real estate lending may shy away from buying institutions with similar concentrations.
M&A activity has slowed this year, and D. Bryan Jordan, chairman and chief executive of First Horizon National in Memphis, Tenn., doesn't see that changing anytime soon.