Commercial banking
The FDIC named Greg Carmichael, who retired last year as CEO of Fifth Third Bancorp, to run a bridge bank that will hold Signature's deposits and most of its assets.
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The San Francisco-based bank, whose stock came under pressure after the failure of Silicon Valley Bank, said the increased borrowing capacity strengthens and diversifies its funding. The bank's "capital and liquidity positions are very strong," executives said.
March 12 -
The bank's tech-sector focus contributed to its rapid demise. But the reasons for its failure come down to the nuts and bolts of banking, and other banks may have similar vulnerabilities.
March 12
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The abrupt downfall of Silicon Valley Bank prompted investors to question whether other banks that hold tech-related deposits could also be at risk. But one analyst said there could be opportunities for banks to add deposits from customers of the failed bank.
March 10 -
PSO featureThe bank has agreed to acquire Big Data Healthcare, a Texan fintech that automates commercial payments flowing to and from hospitals and medical groups. It's the latest example of banks' deepening health care investments.
March 8 -
The dataset, developed by Federal Reserve researchers, will give historians and students a far easier way to examine banks' performance between 1867 and 1904. The period was one of significant instability, which ultimately prompted the creation of the Fed.
March 7 -
The Dallas-based bank offered a more downbeat forecast than it did back in January, as rising rates have continued to put pressure on deposits.
March 7 -
The New York megabank unveiled the most complete accounting to date of its carbon footprint, and pledged to further reduce emissions from various high-emitting industries. Climate activists offered a mix of praise and concern.
March 5 -
The specter of an economic downturn looms, but many companies are still in growth mode, according to Donald McCree, head of commercial banking at the Rhode Island bank. "We continue to hear from a lot of companies that they are doing quite well," he said.
March 2 -
The small businesses said in a lawsuit that the bank used "misleading marketing and business practices" to rake in processing fees from oversized Paycheck Protection Program loans. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications.
March 1
