Goldman Sachs’ Marcus, Synchrony Financial, American Express and Capital One Financial are among the banks that have recently raised their five-year CD yields. The price competition arrives as the Federal Reserve acts quickly to rein in inflation, spurring expectations that rates will continue to rise.

Seiffert, who succeeded longtime CEO William Wagner, orchestrated the company’s entry into Indiana and the sale of its insurance unit. Northwest reported a record $161.9 million profit in 2021.

The number of acquisition announcements in April was less than half the level of a year earlier. Experts attribute this to stock market weakness, higher interest rates and elevated regulatory scrutiny.

Clients of neobanks have more difficulty reaching service representatives than those of direct banks. Several firms are trying to change that.

Heartland BancCorp recently added Republican Lt. Gov. Jon Husted to its board of directors. One government watchdog group said the move raises questions about potential and perceived conflicts of interest.

Acquiring the 151-year-old PCSB would give the buyer its first presence in the deposit-rich metro New York marketplace. After the $313 million deal closes, Brookline will operate two separately chartered subsidiaries in addition to its namesake bank.

Martin Gruenberg, the agency' acting chair, said it will be watching commercial real estate and other assets as matters of “ongoing supervisory attention.” 

Cambridge Bancorp in Massachusetts said it would acquire Northmark Bank in a transaction valued at $63 million.

The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.

Data as of Mar. 31, 2022. Dollars in thousands.

Data as of Mar. 31, 2022. Dollars in thousands.

Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.

First Northern Community Bancorp Chief Executive Louise Walker said she will hand over the bank’s reins to its chief operating officer at the end of 2022.

The Swedish buy now/pay later company Klarna Bank saw its borrowing costs rise to their highest level on record as rising rates hit the company’s debt and equity valuation. 

Strong spending trends, combined with a reduction in card repayment rates, contributed to 17% loan growth last month. The data suggests that rising fears of a recession aren’t yet changing consumers’ behavior.

Agility Bank, formed to serve local businesses operated by women, plans to launch in late May.

The U.S. Department of Agriculture expects farm profits to drop by 8% this year due to multiple factors, creating credit quality questions for ag banks.

Kinecta Federal and Hawaii State Federal are launching smaller, high-efficiency branches and creatively managing real estate to better meet members where they are as well as cater to a younger demographic.

The lawsuit filed by the Philadelphia company's CEO claims an opposing board faction lacks a quorum. Hill seeks to bar the group from reinstalling founder Harry Madonna.

The new service, which will offer one-on-one advice, is open to people with at least $100,000 in investable assets. It’s part of the company’s ongoing efforts to build a full suite of retail banking products.