John Reosti

The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.

The credit union regulator has held back in allowing the use of derivatives but has released a proposal that would remove red tape for some larger institutions.

The New York bank, which is conducting a search for its next leader, also said it expects to report strong third-quarter earnings.

The San Francisco bank reported record loan originations thanks to explosive growth in single-family home loans, and profits beat analysts' expectations.

Lenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program.

Organizers of Scottsdale Community Bank must raise $16 million. The goal is to hit that goal and open by early 2021.

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.

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.

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.

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.

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?

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.

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.

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.

First Mutual Holding has agreed to buy Martinsville First Savings Bank, which will retain its charter, brand and management team.

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.

Bankers and fintech executives want lawmakers returning to Washington to focus on streamlined forgiveness and a second round of Paycheck Protection Program loans for small businesses.

The New Mexico company had recently hired James Crotty, a former director at Keefe, Bruyette & Woods, to serve as its co-CEO.

The company is selling $355 million of Paycheck Protection Program credits to The Loan Source, a nonbank lender that is also buying PPP loans from three other banks.

A state judge deciding a dispute between Spencer Savings and an investor said the mutual must get an independent review before switching from a savings association to a savings bank. The ruling may complicate mutuals' efforts to make more business loans.