Paul Davis

The new Paycheck Protection Program rules, which created a review process and timeline for paying lenders, did not extend the time borrowers have to comply or increase how much money can be spent nonpayroll expenses.

The company, the product of a big merger shortly before the outbreak, had to build portals on the fly, help many customers shift to mobile and accomplish in days tasks that once took months, its digital chief says.

The Ohio company said the decision reflects branch overlap and lower customer usage of the locations being shuttered.

Nicolet Bankshares said its lagging stock price would complicate efforts to complete its planned purchase of Commerce Financial.

The order's removal allows the Delaware company to pursue more opportunities in its payments business.

New Peoples Bankshares said the layoffs were necessary because of the coronavirus pandemic and "a changing financial services industry."

The agreement comes a day after Axos Financial warned that H&R Block was ending their six-year-old partnership.

H&R Block intends to break off the relationship since the parties have been unable to restructure compensation to reflect new interchange fee caps at Axos.

The Pittsburgh company has owned a 22% position in the money manager since 1995.

Organizers representing five tribes aim to create a financial institution to serve their members.

The Illinois company will sell Bates Cos. to an undisclosed buyer less than two years after buying the wealth management firm.

The Wisconsin regional said the funds will support loan growth and its dividend policy as well as create an added capital buffer.

The deal was expected to close this summer, but First BanCorp said a regulatory review is hitting snags.

Tinker Federal Credit Union's deal for Prime Bank in Edmond, Okla., is set to close later this year.

Bank of Southern California's all-cash offer for CalWest was reduced by nearly 20% after the buyer's shareholders declined to approve the deal.

The lenders are bracing for spikes in delinquencies or defaults on loans to a sector heavily punished by social distancing measures.

The Small Business Administration's last-minute plan to temporarily block larger banks from the relief loan program is another example of the agency changing the rules midstream, critics said.

Johnny Allison, the Arkansas company's chairman and CEO, agreed to reduce his base salary by 20%.

The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%.

Executives say they can still meet their goal of $480 million in cost savings this year from the combination of BB&T and SunTrust despite unexpected expenses, unless the economy fails to rebound quickly.