The sale comes nearly a year after the Cleveland bank said it would stop making consumer loans through car dealerships and focus more on relationship-oriented businesses. It plans to spend the proceeds on repurchasing up to $585 million of its own stock.

As the need for easy-yet-secure mobile banking authentication escalates and consumers become used to logging in by looking into a camera, banks are taking the technology more seriously.

Rochelle State Bank is flush with capital after a group led by investor Rajib Das purchased the bank from its longtime owner in June. Das says his priority is boosting lending locally, but he is also planning to invest heavily in technology and mulling acquisitions.

Digital technologies are transforming the delivery of financial services and reshaping consumer expectations. At the heart of change is the speed of money movement, which now represents the future — success for those who deliver, challenges for those who don't.

Arvest Bank is hoping its version of a virtual branch — a stand-alone app that uses chat to forge a long-lasting relationship between bankers and clients — will suit its customers who prefer one-on-one interaction.

The myWalgreens app functions as a hub for the retailer's growing range of financial products. It's designed to encourage consumers to use their Walgreens card accounts for deposits and payments.

Alastair Borthwick, the president of global commercial banking, will succeed Paul Donofrio, who is transitioning to a new role as head of sustainable finance. The company also appointed three women to its executive leadership team.

Monzo Bank is planning to launch a buy now/pay later service, entering the growing online market for short-term consumer loans, according to a person familiar with the matter.

The revenue that banks earn from these loyalty programs provides a substantial offset to potentially shrinking interchange fees.

Under new CEO Andy Harmening, the Green Bay, Wisconsin, company is beefing up its auto, commercial and asset-based lending units, with a goal of bringing in $2.6 billion of new loans by the end of 2023. It’s also making hefty investments in technology to improve its digital banking capabilities.

JPMorgan Chase is acquiring the Infatuation, a restaurant-guide company that owns Zagat, as the bank seeks to expand its consumer offerings to credit card users and other customers.

Merchants will be able to offer the interest-free installment product starting in October. One of Synchrony’s retail partners, Amazon, announced a buy now/pay later partnership with Affirm last month.

Its $53 million purchase of Pacific Enterprise Bank would be BayCom's 10th bank acquisition since 2010.

James Kim will succeed James Ford, who is retiring, as chief executive.

The New Jersey bank plans to reinvest half of the savings into technology development and hiring.

The program, Balance Connect, allows consumers to link their checking account with as many as five other Bank of America accounts and transfers available funds when needed for a fee that's lower than the company's existing overdraft charges.

First US in Birmingham will take a $1.2 million third-quarter charge to close the subsidiary. It plans to recoup the expense by focusing on commercial and indirect lending.

It started with an email suggesting there would be consequences for lenders that failed to use the Small Business Administration’s website to handle forgiveness applications for Paycheck Protection Program loans. Then lawmakers got involved.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.