Jim Dobbs

The Pittsburgh-based regional bank also emphasized expense control for the first quarter and throughout 2024 as it manages credit quality vulnerabilities and higher charge-offs, particularly among office loans.

Should the all-stock transaction close as planned later this year, Wintrust Financial in the Chicago area would gain about $2.7 billion of assets.

Launched last July, FedNow had enrolled more than 600 participants by mid-March, according to government officials. That marked a 100% increase from the start of the year, with more banks and credit unions viewing fast payments capabilities as essential. Fraud concerns linger, however.

A solid majority of decision-makers at these companies expect to expand their workforces again this year, a Citizens Financial survey found. Loan losses are normally low in eras of economic expansion.

Based on the pace of deals through late March, the banking industry is on track for the most branch sales since 2021. Buyer interest has mounted alongside the need to acquire deposits, following hits to funding bases last year.

With high deposit and borrowing costs persisting amid the Federal Reserve's campaign against inflation, lenders face stress on their net interest margins and the potential of troubled loans ticking up.

Houston-based Prosperity Bancshares said it closed its purchase of Lone Star State Bancshares about a year later than initially planned.

Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.

First National has agreed to buy Touchstone Bankshares. The combined company would have more than $500 million each of deposits and loans.

Lower commodity prices and decreases in government assistance are expected to push farm income lower this year and raise credit risk for banks.

Harborstone Credit Union in suburban Lakewood, Washington, plans to buy Savi Financial. That's seven deals in less than three months this year; the highest full-year total was 16 in 2022.

A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.

Bank mergers and acquisitions have slowed in recent years amid recession fears and other economic uncertainties. But bank consolidation is a century-old trend that's expected to rev up again as early as this year due to higher costs, tougher regulation and fierce competition.

The new team at Dime Community Bancshares intends to attract funding from an array of niche business segments, including medical billing, so-called death care services and hedge funds.

Sound Credit Union said it would acquire Washington Business Bank in a cash deal slated to close in the fourth quarter.

Orlando-based Cogent Bancorp's Brandon Ghee, a former NFL player, has launched a business line focused on providing banking services to professional athletes and the growing number of college standouts earning six- and seven-figure incomes.

Citing missed deadlines for an annual meeting and key regulatory filing, the Norcross-Braca group has called off a plan to invest $35 million in the Philadelphia bank.

The USDA forecasted farm profits will plunge 26% this year, potentially creating credit quality challenges for lenders.

The world's largest credit union said that Dietrich Kuhlmann, a retired rear admiral and currently the institution's chief operating officer, would succeed retiring CEO Mary McDuffie on March 1.

The Pittsburgh company says its new president, Michael Lyons, will report to William Demchak, who will continue as chairman and chief executive. Lyons is positioned to become PNC's next CEO someday, observers said.