Laura Alix

The North Carolina company will also eliminate nonsufficient-funds fees as it aims to keep pace with larger rivals, including Bank of America, that have revised their overdraft policies.

The Florida company spent nearly $7 million in the fourth quarter on the payouts, which were made in recognition of work done during the pandemic.

The merger of FVCBankcorp and Blue Ridge Bankshares, which has faced criticism from student borrower advocates, would have created a $5 billion-asset bank. The deal was delayed last year after the Office of the Comptroller of the Currency raised concerns.

Executives predict a 5% to 6% bump in lending this year, and they also say they'd be comfortable if up to a third of the Cincinnati company's excess cash migrates away.

The Rhode Island bank estimated that its revised overdraft practices will cost $40 million each year, but it noted that complaints to call centers are down 40% since the policy change.

While money market fee waivers ate into the company’s revenue last quarter, as low interest rates led asset managers to make concessions to customers, executives predict a turnaround in 2022 after the Federal Reserve starts monetary tightening.

Following the recent resignations of the San Francisco bank’s co-CEO and chief operating officer, executives sought to project stability during an earnings call Friday. Employee morale is strong, and finding a leader who’s the right fit is more important than filling the job quickly, they said.

Under an agreement with 40 state attorneys general, the student lender and servicer agreed to cancel debt for over 66,000 borrowers and pay restitution to another 350,000 borrowers placed in certain types of forbearance.

Though the dining sector has been hit hard by COVID-19, restaurateurs have pivoted to drive-thru and curbside options, and rising grocery prices are making eating out comparatively less pricey.

Chief Audit Officer Denise DeMaio will join Truist from MUFG, while Chief Information Security Officer Howard Whyte has experience at Boeing, Goldman Sachs and the FDIC.

The largest U.S. banks have made progress in detailing the risks posed by climate change, but it's clear the industry will have to do more. As federal regulators prepare to impose new obligations, banks are pushing back against calls for more aggressive measures such as capital requirements and increased risk weighting for fossil-fuel lending.

A new group within the Alabama company's equipment finance subsidiary will be led by Jay Cannon, who recently left U.S. Bancorp.

Gaye Erkan was widely seen as the front-runner to succeed founder James Herbert. Following her abrupt departure, the San Francisco bank must decide whether to find its next leader internally or recruit an outsider.

Hafize Gaye Erkan stepped down just weeks after the bank's founder, chairman and co-chief executive, James Herbert, announced a medical leave of absence. The San Francisco company named an interim CEO and said it will conduct a search for Herbert’s successor.

Many previously unbanked consumers are flocking to the banks that provide accounts with no overdraft or debit card fees and minimum opening balances of $25, according to a new report from the St. Louis Fed.

There are more than 20,000 Holocaust survivors in the New York City area, and roughly a third of them are said to live in poverty. New York-chartered financial institutions should voluntarily waive transfer and processing charges on payments to reparations recipients, the state’s financial services regulator says.

The North Carolina company has estimated the degree of exposure to flooding and hurricanes that exists in its mortgage and commercial loan books and has tallied its losses from severe storm damage in recent years. It’s one of a few regional banks to publish assessments based on the criteria of a global task force.

Darryl White has made no secret of the Canadian company’s intentions to expand its U.S. presence, and the deal for San Francisco-based Bank of the West would give it a foothold in the nation’s largest and richest state.

Ravi Mallela will step down as chief financial officer in early January. Chief Risk Officer Ralph Mesick will serve as interim CFO while the company searches for Mallela's replacement.

The Office of the Comptroller of the Currency released draft “supervisory principles” for banks with more than $100 billion of assets, saying they should account for weather-related risks. Officials said public feedback on the guidelines will help inform more detailed interagency policy next year.