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The Small Business Administration has been covering six months of principal, interest and fees for loans that existed on Sept. 27. There are concerns the moves are masking weaknesses in lenders' 7(a) portfolios.October 6 -
Lenders are disappointed with a low proposed cutoff for blanket forgiveness, but they said the proposal, which waives applications for some loans, is a good first step.September 29
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Michael Rechin will step down at the end of this year. The Indiana company tapped CFO Mark Hardwick as its next CEO, while Michael Stewart, its chief banking officer, will become president.September 29
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Banks' restaurant and hotel clients in many oceanside communities are seeing an uptick in business as travelers opt for short hops over long hauls during the coronavirus crisis. But activity could slow as colder weather approaches.September 25
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It's been six weeks since the Paycheck Protection Program expired and banks started filing forgiveness applications on behalf of borrowers. So why isn't the Small Business Administration responding?September 22
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A historic influx of deposits has brought the National Credit Union Share Insurance Fund’s equity ratio close to the point where premiums would be required, but the regulator’s plan is intended to boost it.September 17
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Originations in the third quarter are on pace to double what the Detroit lender reported a quarter earlier, adding more high-yielding loans to the balance sheet.September 15
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Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations.September 14
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First Mutual Holding has agreed to buy Martinsville First Savings Bank, which will retain its charter, brand and management team.September 11
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At a time when many lenders are shying away from an industry hit hard by the pandemic, State Bank of Texas is going all in.September 10
