Michigan State University Federal Credit Union will open five branches in the Windy City to serve the more than 10,000 members and potential members living there. This marks the first time that the institution has expanded beyond its home state.

FNB Corp. and Bank of America are experimenting with ways to meld the benefits of account-opening in a branch with the efficiency of online.

The Pasadena, California, bank expects to spend more on hiring this year, including the addition of some former Silicon Valley bankers. Anticipated loan growth and an uncertain economic horizon prompted the bank to increase reserves for bad loans.

Executives of the regional bank say they are zeroing in on its most profitable business lines and moving away from one-off customer relationships that don't generate as much revenue.

The recent conversion marked one of the final steps in the $8 billion acquisition, first announced in 2021. U.S. Bank still anticipates up to $900 million in cost savings and a breadth of opportunities to expand revenue from the transaction.

Several community banks noted an uptick in problem loans in second-quarter earnings reports. Small lenders should brace for more of this, industry observers noted.

Some credit unions and banks are taking a step back from the U.S. auto lending market, but Ally CEO Jeffrey Brown said the overall sector remains healthy. Though credit is weakening, the loans that the company is making are bringing large returns.

Brian Plum abruptly stepped down as president and CEO of the Charlottesville, Virginia, company last week. Blue Ridge also announced that it would not pay a dividend in the third quarter.

After the Tennessee bank's canceled sale to TD Bank, it launched a marketing campaign that attracted tens of thousands of new customers. The next step is expanding these relationships, executives said during the company's second-quarter earnings call.

U.S. financial services firms should be paying close attention to the innovative Pix Credit system that is displacing consumer credit cards in Brazil.

The nation's second-largest bank has weathered the Federal Reserve's rate hikes better than many others, but it's still at the central bank's mercy as deposit pressures continue.

The brokerage firm reported that during the second quarter bank deposits fell 31% from a year earlier. But executives suggested that the worst is now over.

Scully, who founded and then eventually sold Howard Bank, will help the Rockville, Maryland-based Capital expand its footprint in the Washington, D.C., metro area.

An executive with the Federal Home Loan Bank of Chicago pushes back on a BankThink article criticizing the Mortgage Partnership Finance program.

The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.

Visa wants to expand in-car payments tech; Citizens Financial installs president to oversee growing California market; undergrads win banking competition and more in the weekly banking news roundup.

The New Jersey institution has hired Jeanne Scungio, a veteran banker who ran First Republic Bank's New York operations, to oversee its expansion into the Big Apple.

The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.