Community banking
Burke & Herbert, which is based in Alexandria and has been in operation since 1852, has joined a long list of banks planting their flags in Richmond, where the overall deposit market has grown 32% in just five years.
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CEO Nitin Mhatre, who joined the Massachusetts bank in 2021, said that any M&A deal is at least a year away. For now, the bank is working with fintechs as a way to bolster its balance sheet and deliver exceptional customer experiences.
March 11 -
The Federal Reserve and the FDIC are weighing changes to their policies for reviewing mergers and acquisitions, and that’s creating a sense of urgency among bankers to cinch deals now.
February 25
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As more consumers shop and bank online, Texas Capital and its rivals are competing for market share with concepts such as an American Airlines savings account that offers miles instead of interest and one that pays a 0.70% annual percentage yield, beating the national average of 0.06%.
February 15 -
Eight out of 10 community bankers said in a new survey that the installment loan product appeals to them far less than it does to many fintechs and larger banks.
February 4 -
MVB Bank more than tripled its deposits in five years by providing accounts to sports betting sites, as well as technology companies that cater to other industries.
February 4 -
Four-fifths of the state's community banks have disappeared since the start of the 2008 financial crisis. The founder of the newly chartered Scottsdale Community Bank calls the market "drastically underbanked."
February 3 -
After regulators signaled their intention to crack down on banks that lean on the controversial charges, First National Bank Texas adopted a reform. A bank spokesperson said the move was unrelated to any pressure from Washington.
January 25 -
A group of community banks and two major trade associations have formed a partnership with and invested in the fintech NYDIG to offer the service on the banks’ mobile apps by midyear. The banks say it will help them generate revenue and retain customers interested in cryptocurrency.
January 18 -
OneUnited's new installment-loan product is meant to break customers out of a cycle of debt. It will compete with similar offerings from heavyweights like Wells Fargo, Bank of America and Huntington.
January 13
