John Reosti

The New York-based company announced the launch of a health care lending unit after capitalizing on recent bank failures to add seven deposit-focused banking groups this spring and summer.

Financial institutions in several Southeastern states had braced for impact of the Category 3 hurricane. Bank and credit union executives in Florida and Georgia say their facilities generally weathered the storm but that some communities they serve face substantial recovery efforts.

The Department of Justice cited American Bank of Oklahoma's lending record, as well as racially inflammatory emails it claims bank employees forwarded, in support of its redlining claims.

Burke & Herbert Financial Corp. and Summit Financial Group announced a transaction that they described as a merger of equals valued at roughly $371.5 million in stock.

Forget special offers, ubiquitous branches and promises of convenience. Younger clients want to see state-of-the-art technology and hear good things from friends and family, according to a recent Arizent survey.

News of the delisting, prompted by ongoing delays related to filing its 2022 annual report, triggered a selloff of the Philadelphia-based company's battered stock.

Cambridge Savings Bank's Ivy Bank online-only unit has spent two years offering CDs and savings accounts. Meanwhile, Sumitomo Mitsui Financial Group's new digital bank, Jenius, launched with personal loans. Both want to widen their product sets to benefit both sides of the balance sheet.

Dan Sheehan, former CEO at Professional Bank in Coral Gables, said he's "putting the band back together" to spearhead his new, Texas-based employer's expansion plans in the Sunshine State.

Thomas O'Brien has gained a reputation for being able to salvage institutions on the brink of disaster. With his latest rescue job nearly complete, the fix-it specialist ponders his next move.

The Wilmington, Delaware, bank announced this week that it had purchased Bell Rock Capital. WSFS' management says that legal troubles involving that investment advisory firm's founder won't affect the transaction.

Texas State Bankshares has agreed to buy Estrada Hinojosa & Co., one of the nation's biggest municipal underwriting and advisory firms.

Critics complain a bill sponsored by the leaders of the Senate Small Business Committee would reinstate a moratorium on participation in the SBA's flagship 7(a) program by nondepository lenders. Supporters of the bill argue that widening the program could invite more fraud.

The Pittsburgh-based regional is leaning heavily on ATMs as part of a de novo expansion strategy in the lucrative Washington metropolitan region.

Big Poppy Bancorp has applied to the Federal Reserve to acquire up to 24.99% of Summit State Bank. Both institutions are headquartered in Santa Rosa. Combining them would create the city's biggest bank.

The Wilmington, North Carolina-based small-business lender is prepping a wider rollout of the business checking account it introduced in the first quarter. Chairman and CEO Chip Mahan said the move will allow the company to "nip at [its competitors'] edges as their customers feel less appreciated."

The $417 million agreement would give Richmond, Virginia-based Atlantic Union Bankshares "the critical mass" it needs in its home state and neighboring North Carolina, according to CEO John Asbury. He and his counterpart Jeff Haley at American National Bankshares in Danville, Virginia, describe each other as longtime pals.

Chairman and CEO Chris Gorman said Key's reduction efforts were prompted by an expectation big banks will be expected to operate with significantly lower loan-to-deposit ratios going forward.

Several community banks noted an uptick in problem loans in second-quarter earnings reports. Small lenders should brace for more of this, industry observers noted.

Executives say Bank of New York Mellon can maintain its upbeat forecasts on net interest income and perhaps beat its expense-control goals. However, they warn deposits could shrink in the second half.

The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.