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 Farm Credit Administration will also withdraw a proposal that would have allowed its lenders to make investments in non-agricultural businesses.
The SBA suspends fees to promote more lending below the $150,000 level.
One-fourth of bankers surveyed by KPMG expect to become sellers in 2014 as challenges and regulatory scrutiny rise.
Health and wellness programs are a great way to boost employee engagement and keeping health care cost down.
Directors at community banks could also face more liability as regulations, including the qualified mortgage rule, are implementing in coming months
The company lost money in the third quarter as it aggressively looked to build assets. At least one investor urged management to take a break from acquisitions during a quarterly call to discuss results.
New regulations and the end of the refi boom are forcing banks to seek new sources of noninterest income. Some are taking a hard look at offering services they can charge for.
Community banks sustained a 27% decline in mortgage banking income last quarter, confirming the laments of individual banks during earnings season. Some banks are getting creative to try to revive their business in coming quarters, but it will be tough.
The Small Business Administration is temporarily waiving fees on loans of $150,000 or less, and community bankers say it will encourage lenders and borrowers to pursue loans that they had shied away from in recent years.
Community bankers have become increasingly concerned about the government-sponsored enterprise as it has grown and expanded its client base.
The Salt Lake City company has long lagged in mortgages, and now is the time to get more aggressive as big rivals pull back and small competitors struggle with qualified-mortgage rules, CEO Harris Simmons says.
Analysts hammered Regions and Synovus for a rising cost base amid weak economic conditions, while Signature Bank in New York was given a pass since its revenues are growing faster than its expenses.
Receiving Wide Coverage ...Naming Names: British authorities have identified almost two dozen individuals at banks as possible co-conspirators in a probe into the manipulation of the London Interbank Offered Rate. The Serious Fraud Office notified the individuals last week that they had been included in court papers related to a case against Tom Hayes, a former trader at UBS and Citigroup. High Court justice Jeremy Cooke also lifted an order from last week that barred the Wall Street Journal from reporting the names of the individuals. Cooke found that there was "no basis" for the restriction, according to the Journal. Under British law, judges can restrict what the media reports if it might prejudice a defendant or potential jurors, according the New York Times. None of individuals have been "formally accused of wrongdoing," the Financial Times reported. Hayes and two others were supposed to plead not guilty to charges on Monday but that has been delayed until December.
Third-quarter earnings at Zions (ZION) more than tripled from a year earlier after the company bought back a series of preferred stock.
The New York firm has historically avoided investing in acquisition-minded banks, preferring low-key institutions with good leaders and plans for making solid loans.
PNC, U.S. Bancorp and KeyCorp all reported loan growth of at least 5% in the third quarter as they focused heavily on strengthening customer relationships and reaped the benefits of expansion into new markets or business lines. Still, revenue and other challenges remain.
Fraud against the elderly is expected to rise as the nation's baby boomers near retirement. Bankers and regulators are keen on trying to get ahead of the issue.
KeyCorp (KEY) reported higher third-quarter profit after recording a gain from the sale of its investment management and broker-dealer units.
Bertha Garza, who has used her role at IBC Bank in Brownsville, Texas, to help spread financial literacy, was given American Banker's Community Impact Award, presented for the first time at our annual gala celebrating the industry's most powerful women.
Republic Bancorp's deal to buy the bank operations of H&R Block collapsed because of regulators' apparent concerns about the mixing of banking and tax-refund processing. The deal would have helped restore a business already bruised by conflicts with regulators.