Xu Guojun, a former local branch head at Bank of China, was handed a life sentence over one of the Asian nation's biggest bank frauds.

The acquisition would deepen Orrstown's presence in its home state and Maryland. In recent years, Codorus Valley Bancorp had faced pressure from an activist investor to consider selling.

If banks reached the same market penetration among U.S. customers of Latin American descent that they have among white Americans, they could tap an additional $155 billion in annual revenue, according to new research from the consulting giant McKinsey.

Carter Bankshares in Martinsville, Virginia, is attempting to exit a longstanding relationship with West Virginia Gov. Jim Justice through a seldom-used collections tool that was at the center of a court hearing this week.

Integrating artificial intelligence into the world of banking and finance must be a cooperative effort between the industry and regulators. It's important that the discussions start now.

Mobile banking features that encourage customers to set savings goals can supercharge customer loyalty and attract new primary banking customers. A renewed focus on consumer savings may also help banks offset the decline in deposits reported at many banks in 2023.

Bank CEOs are eyeing a near-term peak in deposit costs as the Fed perhaps moves closer to cutting interest rates. But the pressures they've faced this year as depositors ask for more compensation may not die down right away.

Internet-based banks are siphoning deposits away from urban centers in the U.S. and, unlike brick-and-mortar banks, face no requirement that they loan money back into those communities.

The 130-year-old Warsaw Federal Savings & Loan achieved a minority status after retooling its board this summer. Its CEO, who is also new to the job, has no plans to slow the pace of change at the depositor-owned bank.

Banks branches continue to shutter through October; First Carolina onboards fintech partner BM Technologies; ICBA announces its 2024 accelerator companies; and more in the weekly banking news roundup.