Jon Prior

The Alabama company is instead on the hunt for nonbank acquisition candidates as well as employees or clients it could lure away from regional banks that have announced merger deals recently, John Turner says.

From delivering water door to door to turning offices into shelters, bankers in the state have adapted their hurricane-response plans to offer customers and employees relief from the past week's snow emergency and power outages.

A full rebound won’t occur until next year at the earliest because of the slow vaccine rollout, most executives at small banks said in a new survey. Last summer, more than half expected a turnaround this year.

Only 18% of businesses that received a Paycheck Protection Program or other loan from an online lender were satisfied with customer service, while 42% said they were dissatisfied. Banks, credit unions and CDFIs fared better in the Federal Reserve survey.

Some big banks trimmed their stockpiles that guard against loan losses in the fourth quarter, but overall allowances fell less than many observers predicted. The trend will likely continue given uncertainties surrounding vaccine distribution and the economy.

The industry legend turned around a struggling Minneapolis company and even escaped a kidnapping to build the firm that is now the nation’s fifth-largest bank.

The Green Bay, Wis., company will consider inside and outside candidates to replace Flynn, who plans to step down by the end of the year.

Hundreds of branches temporarily shuttered during the pandemic are now permanently closed.

The Dallas bank says reserves could return to pre-pandemic levels by the end of 2021— a year earlier than analysts were predicting — if vaccines prove effective at slowing the spread of the coronavirus.

Federal relief efforts have minimized loan losses so far, but risks remain in credit card, auto and business lending. Many borrowers will need another lifeline to stay afloat until the economy rebounds, CEO Jamie Dimon says.

A slower-than-expected rollout of the COVID-19 vaccines and the threat of social unrest after the Jan. 6 riot at the U.S. Capitol could threaten the recovery, according to an American Bankers Association panel.

The Mint’s facilities in Denver and Philadelphia worked overtime in the second half of 2020 so that banks and retailers could get more change into customers’ hands.

U.S. Bancorp says its agreement to buy a portfolio with $320 billion of assets under management will raise its profile on the West Coast. The MUFG unit plans to reinvest proceeds from the sale in other priorities.

Rockefeller Capital Management will buy Whitnell & Co., a business Associated bought in 2017 that manages $1.4 billion of assets.

The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start rising soon — followed by foreclosures.

Eleven Democrats on the Financial Services Committee have asked the heads of the Treasury Department and IRS to eliminate service charges tied to debit cards used to distribute COVID-19 relief.

The company promoted two executives as part of an effort to revamp its leadership team and establish a bigger presence in the Carolinas.

In the waning days of the Trump administration, the agency issued a new legal theory of its power to let national banks evade state consumer protection laws. But some state attorneys general and consumer groups charge the federal regulator is attempting to sidestep restrictions imposed by Dodd-Frank.

The Federal Reserve and the New York State Department of Financial Services have ordered the Swiss bank’s U.S. arm to improve oversight and better monitor the activities of its customers.

Bank and credit union groups are pushing to include the industry’s front-line workers in the next priority group, but even as a recommendation is coming soon from a CDC advisory panel, the decision ultimately will be made state by state.