Paul Davis

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.

Stephen Steinour, the head of Huntington Bancshares, approached TCF Financial about a merger three days after the latter's CEO abruptly retired. An agreement was sealed in about six weeks.

The company also reported a large fourth-quarter loss that reflected a significant increase in its loan-loss provision.

The Detroit company, which recently agreed to be sold to Huntington Bancshares, gained $1 billion in loans and roughly 60 employees.

The new name is the first major change since Dennis Zember became the company's CEO last year.

The Atlanta company joins a small list of banks that have sold loans to companies struggling with the coronavirus pandemic.

The banker, who led the 2013 recapitalization that created Byline, will replace a longtime colleague who will continue to run the company's bank.

Broadway Financial had hit a plateau and was in search of a successor to its longtime CEO Wayne-Kent Bradshaw. After the Los Angeles company rejected two buyout offers, Bradshaw reconnected with an old friend at CFBanc in Washington.

Organizers have been working raising capital and preparing an application for about four years.

The companies are reacting to an ongoing shift in customer preferences to digital channels.