Cap Markets

The proposed Piermont Bank would be based in Midtown Manhattan. It is the second de novo being planned in New York.

While most acquirers are content to let cost savings trickle down to the bottom line, WSFS will use the purchase of Beneficial to reinvent itself.

The Delaware company plans to reinvest savings from the $1.5 billion acquisition to upgrade technology and delivery channels.

Six months after the Federal Reserve put Wells Fargo on a strict diet — no more growth until it cleans up its act — shareholders are finding it’s not so bad.

Tekalign Gedamu, who would chair Marathon International Bank, says that Zekarias Tamrat is bad-mouthing the de novo effort following his dismissal and a subsequent payment disagreement. Tamrat was slated to be the bank's president.

Tory Nixon, who became Umpqua's chief banking officer this spring, is trying to drive more customers to use mobile banking (only 15% do so now industrywide) without alienating them in the process.

Zekarias Tamrat blamed the proposed Marathon International Bank's chairman and directors for delays in getting its application approved.

Fannie Mae’s treatment of a reperforming loan package helped drive up earnings by almost 41% to $4.5 billion, delivering a stronger dividend to Treasury ahead of a leadership change.

A task force created by the American Bankers Association asserts that applying for a bank charter is too time-consuming and that some de novo rules are too rigid.

The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.