Jim Dobbs

Executives cited uncertainty created by surging interest rates, heightened regulatory scrutiny and the potential for a recession.

The bank, which is beleaguered by digital-asset portfolio forced loan charge-offs that led to a loss in the third quarter and for the full year, climbed to a net income of $2.7 million for the fourth quarter.

The Radnor, Pennsylvania-based financial technology company made an unsuccessful bid to buy a bank. Now it is shifting into expense-reduction mode.

Indexes show heightened expectations for a recession and souring loans. But executives are upbeat about middle-market businesses and overall job growth.

The Oklahoma bank grew fourth-quarter loans at a steady rate and said its regional economy is solid. But it is closely watching the impact of rising senior-care costs.

With the $7.5 billion acquisition, the Minneapolis bank bolstered its customer base in the nation's most populous state by more than 1 million. Earnings accretion from the combination could offset slower loan growth this year.

Members of the American Bankers Association's Economic Advisory Committee expect gross domestic product to stall in 2023. Other surveys show a modest contraction. Lenders say sentiment among their borrowers also points to a slight slowdown.

The Ohio bank posted strong fourth-quarter earnings and, while it expects activity to ease some, it envisions continued strong loan growth in the year ahead.

Lending momentum and robust interest income powered earnings, but the Georgia bank expects deposit cost increases to weigh on its net interest margin.

The Pittsburgh bank posted a solid profit and said that it expects continued loan growth. But the pace of business expansion could slow alongside an economic downturn.

Investors worry the intersection of rising interest rates and festering inflation could conjure a recession and drive loan losses. This would keep stock prices suppressed, but share buybacks and merger activity could counter that.

Eric Bergevin, president and CEO of Integrated Financial Holdings, was killed in the Jan. 7 accident, the company said.

Christopher Oddleifson plans to step down from the Massachusetts bank in February. The company named Jeffrey Tengel, most recently an executive at M&T Bank, as successor.

A new Risk Management Association survey found that 84% of small lenders cite credit quality as a leading worry for 2023 because of the likelihood of a recession.

Rising interest rates and the potential for weakening economic activity could result in moderating loan demand in the new year. Some bankers are already being more selective in their lending.

Lenders are bracing for possible setbacks in small business, office and hospitality lending. Consumer credit challenges may follow.

The New Canaan Bank would have been the state's first de novo in more than a decade.

Despite a slow year overall, banks announced several substantial merger and acquisitions in 2022.

The $23 million deal, announced more than a year ago, was terminated following regulatory delays.

The bank hired Thomas Geisel to take over as president and chief executive, effective immediately. He succeeds Harry Madonna, who had been interim leader after the ouster of Vernon Hill.