Community banking
The Dallas-based institution has hired Dan Sheehan, a veteran banker and the former CEO of Professional Bank, to head the effort that will include opening a branch in Palm Beach County later this year.
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Beach Cities Commercial Bank is set to open in Southern California next week. Rising interest rates and consolidation in recent decades have created more opportunities for investors to form new banks, experts said.
June 6 -
Bankers and a key government supervisor say the downfalls of multiple regional lenders reminded regulators that traditional M&A is better for the industry than failed-bank-deals.
June 6
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A pair of mutual banks in Maryland and New York that sold minority stakes more than a decade ago are pursuing second-step offerings that will result in both becoming fully stock-traded companies.
May 24 -
The West Virginia company says COO Jeffrey Jackson will become chief executive in August instead of January. He will succeed Todd Clossin, who will retire earlier than planned and describes Jackson as "well prepared."
May 18 -
Brent Grable will take on managing IT and operations at the Massachusetts bank. He formerly worked at Santander and State Street.
May 16 -
MVB Financial's agreement to buy Integrated Financial Holdings has fallen through, with both sides citing an uncertain economic outlook and potential regulatory challenges. It's the second M&A deal to be scrubbed in the past week.
May 10 -
In the wake of spiking interest rates and surging deposit costs, bankers are looking for ways to scale back their overall expense bases to protect their bottom lines.
May 8 -
It's clear that credit unions buying community banks is bad for businesses, bad for communities and bad for government tax revenue.
May 5 -
Some 77% of banks did not did not record significant deposit inflows or outflows following Silicon Valley Bank's failure, according to a survey of executives at 567 institutions. The findings highlight the stability of many smaller banks' deposit bases.
April 26
