Michael Moeser, senior analyst at PaymentsSource, talks to Brandon Thompson, EVP at Green Dot, about the drastic changes its audience has faced over the course of 2020.

The tech firm spun off by Avant, which licenses its lending software to banks, has now raised $140 million this year.

First Horizon, TCF and Webster are among the banks eyeing efficiency initiatives that could include more branch closings, layoffs and reduction of office space. Expect others to follow suit as low rates and tepid loan demand tied to the pandemic pressure revenue.

Elizabeth Magennis recently served as the New Jersey company's chief lending officer. ConnectOne also hired Michael O'Malley, a former OnDeck Capital executive, as chief risk officer.

CEO James Schenck says the institution's military focus means it must provide services for a group of consumers who move every few years. That has helped it focus more on mobile services and less on brick and mortar.

Year to date through Sep. 30, 2020. Dollars in thousands.

Year to date through Sep. 30, 2020. Dollars in thousands.

The deal will expand the credit union's brick-and-mortar footprint to more than 30 locations across Illinois and California.