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With a week left in its 2023 fiscal year, the Small Business Administration has already approved 12% more 7(a) loans than last year. Larger banks were among the biggest gainers as a result, according to the agency's latest data.
September 24 -
Dawson Her Many Horses, a commercial banker at Wells Fargo, is a pivotal player in an effort among tribal leaders, the federal government and the private sector to improve the availability of economic data about Native American communities to encourage outside investment there.
September 19 -
Denver-based InBank will expand into Georgia and Arizona, part of a wider plan to seize market share and build what one executive called a top-tier SBA lender.
September 19 -
BMO says the shutdown will result in job losses as it shifts its resources to other areas.
September 18 -
Commercial real estate loans are a growing area of concern for banks. But OceanFirst says its exposure to a troubled shared credit tied to a Manhattan office building isn't a sign of broader problems in its portfolio.
September 15 -
A movement is afoot to transfer the job of the Federal Home Loan banks to the Federal Reserve. This would be a disaster for small lenders.
September 15Syphax Strategic Solutions -
Despite an industrywide rough patch, EverBank still sees promise in the niche business line. The Jacksonville, Florida, company has hired a pair of prominent industry experts to lead a new division tasked with serving investment funds.
September 14 -
The secretive world of private credit is increasingly being funded by public money, and there will be no FDIC there to bail us out when things go bad.
September 14Valley National Bank -
The former U.S. vice president turned climate crusader says Big Oil and the banks backing it still have huge financial incentives to stick with fossil fuels, even though their decision to do so is the leading cause of the climate crisis.
September 14 -
A handful of banks concentrated in the Southeast U.S. are facing elevated charge-offs amid the liquidation of Mountain Express Oil. First Horizon Corp., which led a syndicated loan of more than $200 million to the bankrupt company, expects to take a $70 million hit.
September 13