The New Jersey company reported a quarterly loss after becoming one of the first lenders to liquidate loans harmed by the coronavirus pandemic.

RockPoint Bank is on pace to open early next year. The announcement comes two weeks after Craft Bank became Atlanta's first new bank since 2010.

The challenger bank now offers small businesses checking, lending and payments services on one platform and can link them through Plaid to external bank accounts.

The company is best known for its reciprocal deposit program, but it’s finding new ways to serve banks without competing for their customers.

Renaud Laplanche's fintech will give borrowers cash back when they lower their loan balances.

Both developments are part of the company’s strategy of becoming a full-service bank for its young, affluent customer base.

Donald Felix will join the Rhode Island company in January as head of national banking. He recently was responsible for developing a personal finance management strategy for JPMorgan Chase’s consumer bank.

The agency overreached in its proposal to revamp the Community Reinvestment Act when it should have simply required branchless banks to invest more in areas where deposits are taken.

The Mississippi company said Duane Dewey, the president of its bank, will succeed Gerard Host as CEO in January.

Rick Wardlaw at Bank Independent in Alabama gets results by adhering to the servant-leadership model.