Paul Davis

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.

The biggest lenders seem to have handled the corporate rush for cash heading into the economic shutdown caused by the coronavirus pandemic. But their ability to collect is as uncertain as the economic outlook for the next year.

Dean Bass, chairman and CEO of Spirit of Texas Bancshares, had taken a leave of absence after contracting COVID-19.

The Pennsylvania company said it faces $7.5 million in potential exposure from a commercial lending relationship.

Many banks were hitting their limits for lending to small businesses devastated by the coronavirus outbreak. They say the Fed's decisions to help fund additional loans and relax capital requirements will resolve many of their problems.

Pinnacle Bankshares and Virginia Bank Bankshares said the move will let each bank focus more on responding to the COVID-19 pandemic.

Spirit of Texas Bancshares named an interim CEO for Dean Bass, though the company said he is recovering.

Lenders must balance the financial risk of extending credit without explicit backing from the Small Business Administration against the reputational risk of delaying aid for needy borrowers.

Sen. Marco Rubio, R-Fla., said that $349 billion will likely not be enough meet loan demand from small businesses seeking a lifeline to help them weather the economic downturn brought on by the coronavirus outbreak.

While the federal government is touting the early success of the Paycheck Protection Program, community banks are complaining about headaches and glitches.

The proposed Agility Bank would rely heavily on digital offerings. It is pursing a national charter with the Office of the Comptroller of the Currency.