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.
The Connecticut lender overhauled its enterprise risk management system after becoming frustrated with inefficient spreadsheets.
Sunwest Bank in Irvine, Calif., has been sending employees to Africa and South America since 2011 to do philanthropic work. While such projects could help recruit Millennials, industry experts also see challenges selling foreign missions to employees and customers.
Several Korean-American banks are entering markets and businesses designed to target mainstream clients and other ethnic groups. Such moves are viewed as a way to improve the bottom line as revenue growth proves daunting.
The Puerto Rican bank faces a deadline to raise capital or sell itself. With recapitalization a challenging prospect, here's a look at how other scenarios could play out.
Community banks, on average, increased the size of their loan portfolios by 15% in the third quarter from a year earlier, though the numbers reveal a slowdown from prior periods.
Bankers are worried that a new proposal will allow Farm Credit institutions to invest in non-farming businesses. The Farm Credit Administration denies those claims, stating that the proposal is designed to comply with the Dodd-Frank Act.
Doral Financial in San Juan, Puerto Rico, has provided the Federal Deposit Insurance Corp. with its capital restoration and contingency plans.
Community banks have been steadily increasing their dealing in auto finance, an area with great potential and significant risk for unexperienced lenders.
BSB Bancorp in Belmont, Mass., reported that its third-quarter earnings more than doubled from a year earlier on higher net interest income.
Empire Bancorp in Islandia, N.Y., posted stronger quarterly earnings after working to make loans a higher percentage of total assets.
Executives at regional banks around the country have reported a wide variation in quarterly loan growth (some good, some not) as economic volatility, heavy competition and new regulatory requirements present obstacles.
Synovus Financial in Columbus, Ga., reported a higher third-quarter profit as its total loans and net interest income increased.
Huntington Bancshares says spend it plans to expand its branch network next year but SunTrust, BB&T and First Horizon are of a mind to keep cutting costs.
Huntington Bancshares in Columbus, Ohio, reported lower third-quarter earnings despite an uptick in revenue. The culprit was its nearly $23 million in special expenses.
Regional banks are doing their best to hold down expenses, compete for quality loans and generate more fee income, but until the Federal Reserve raises interest rates, their quarterly profits will remain sluggish, bankers and analysts say.
KeyCorp in Cleveland reported lower third-quarter earnings as revenue slumped and its net interest margin fell.
A judge's ruling that Doral is owed $230 million by the territory's government may not immediately change its status as "significantly undercapitalized."
Smaller institutions are likely to report stable net interest margins, even as competition for the best credits remains fierce. Loan volume could suffer from a seasonal slowdown, while investors would be keen to track commentary on loan structure.
The Salt Lake City bank has formalized programs to help employees who are in the reserves or have active-duty spouses and children deployed far from home. Its efforts range from raising funds for a family with a severely injured son, to hiring a landscaping firm to mow the lawn of an employee in need.
Several banks, such as Woodforest National, operate extensive branch networks inside Wal-Mart stores. There are concerns that the retailer's new GoBank checking account could gut in-store branches' current business.