Jim Dobbs

Nearly two out of three finance chiefs surveyed by Piper Sandler said they were most worried about deposit costs in the aftermath of recent bank closures. Only 7% cited credit quality as their top reason for unease.

The Kentucky-based bank plans to acquire the $234 million-asset Sumner Bank & Trust in central Tennessee in a transaction expected to close in the fourth quarter.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

Lenders in coveted locations with stable deposit bases are bullish about their expansion opportunities despite the shadow the banking crisis and recession fears have cast on the rest of the industry.

The West Virginia company says COO Jeffrey Jackson will become chief executive in August instead of January. He will succeed Todd Clossin, who will retire earlier than planned and describes Jackson as "well prepared."

Community banks tapped the brakes during the first quarter, citing higher interest rates, recession threats and fallout from regional-bank failures. Fed data shows the trend has continued into May, and executives are preaching caution.

Shares in small banks have plummeted during this year's banking crisis. But deposits have largely stabilized and credit quality remains historically strong, bolstering the case for bargain buying and a sector rebound.

The Florida lender hired corporate bankers in New York City who had previously worked at First Republic Bank, which collapsed last week.

MVB Financial's agreement to buy Integrated Financial Holdings has fallen through, with both sides citing an uncertain economic outlook and potential regulatory challenges. It's the second M&A deal to be scrubbed in the past week.

In the wake of spiking interest rates and surging deposit costs, bankers are looking for ways to scale back their overall expense bases to protect their bottom lines.

The companies cited an inability to secure regulatory approvals after postponing multiple times a closing that had been originally expected last fall.

Banks grappled with a litany of questions throughout earnings season about the likelihood of a recession and the potential for increased pressure on commercial real estate borrowers.

The Oklahoma lender said its oil-and-gas portfolio remains a key source of stability and potential growth, despite weaker commodity prices.

CEO Rajinder Singh said battered competitors are "throwing off" both talent and customers, creating a chance for the Miami Lakes, Florida, bank to pick up new business.

The Kansas-based buyer is pursuing deals to build out its small-business lending across several states.

Elevated interest rates, economic uncertainty and financial sector fragility exposed by recent bank failures threaten to stunt lending activity.

The volume of bank acquisitions — either by credit unions or community banks — has dropped considerably so far in 2023. Experts, including prospective buyers, cite a combination of ongoing regulatory and economic pressures.

The Tennessee bank confirmed in its earnings report that the deal, already delayed by several months amid heightened regulatory scrutiny, likely would not close by a May 27 deadline. No new target date has been set.

The Pittsburgh bank grew its deposits in the first quarter, even as the failure of two other regionals sparked outflows across the industry. But PNC executives warned Friday that rising funding costs could continue to eat into its net interest margin.

Lofty fertilizer and equipment costs are forecast to cut into profits this year. Farmers are expected to seek loans to cover higher expenses, but bankers are likely to be cautious in granting credit given recessionary pressures.