Commercial lending

In this month's roundup of top banking news: a Supreme Court ruling on CFPB funding, TD Bank's money laundering woes, an FDIC workplace probe reveals a culture of misconduct and more.

The bank took a big hit on an office property in Washington, D.C., during the first quarter. This month, it filed a shelf registration statement for an offering of up to $150 million that could be used to bolster capital or refinance debt.

While the $800 billion in PPP loans has largely self-liquidated through the forgiveness process, SBA continues to service the longer-duration EIDL portfolio and will likely be doing so for years to come after opting to hold on to the loans.

West Coast Community Bancorp agreed to acquire 1st Capital Bancorp in an all-stock deal slated to close in the fourth quarter.

The $116 million deal to acquire HMN Financial in Rochester would mark the 26th acquisition of this century for Alerus. The transaction is slated to close in the fourth quarter.

The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.

Executives also say funding pressures have begun to ease, though high interest rates and deposit costs remain a leading worry, according to new surveys.

Quaint Oak Bancorp sold its majority stake in an equipment lender less than two years after the partnership helped drive record profits at the Southampton-based company.

A group of 24 institutional investors say a recent pledge by the British bank to restrict financing for companies that focus exclusively on fossil-fuel exploration and extraction doesn't go far enough.

Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.