New research from American Banker and Monigle reveals which banks, credit unions and challenger banks are turning customers into fans — and which ones have work to do.

Cypress Bank & Trust is poised to open in Palm Beach, and longtime banker Stephen Gordon just launched Genesis Bank in Newport Beach. Meanwhile, two more groups have filed for de novos in August, bringing the list of pending applications nationally to 16.

Three credit unions have announced deals to acquire community banks in the past week. The latest is the Wisconsin-based Royal, which is buying the $441 million-asset Lake Area Bank.

Board diversity is one of the reasons that credit unions outperform banks in hiring women for the role of chief executive. “It starts at the top," says Jan Page, president and CEO of Community South Credit Union in Florida.

Despite clear evidence to the contrary, the mortgage insurer continues to insist that credit unions have the same risk profile as nonbank lenders. It’s now threatening to exclude nearly a quarter of credit unions from being qualified issuers of the securities it backs.

The $119 million-asset Ergo Bank in Wisconsin, which is working with the fintech Neocova, says artificial intelligence and modern data management are attainable for even the smallest financial institutions — and essential to competing with larger banks for consumers.

Abbott Cooper, the head of Driver Management, says Codorus Valley Bancorp is not as profitable as its peers. Cooper, who has successfully forced the sale of at least two other banks, has indicated he's ready to launch a proxy fight.

The Arkansas bank has hired an 11-member team to develop its new operation. Much of the team joins from TCF Financial, which was sold to Huntington Bancshares in June.

Ann Arbor Bancorp had agreed to buy FNBH in February 2020 but backed off four months later amid economic uncertainty. The two sides have reunited, though the price tag rose.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

The deal would mark a first step in Chief Executive Jane Fraser’s plan to exit 13 retail markets across the Asia-Pacific region, Europe and the Middle East.

Local financial institutions have fewer branches than big banks, and closing even one location makes it harder for them to serve their communities.

In the short term, the Biden administration is asking the industry to help previously unbanked households access their funds. Longer term, some banks see a real opportunity in advising their customers on what to do with the large cash influx.

Ando, a challenger bank focused on sustainability, is helping Virginia Community Capital Bank expand its 5-year-old clean energy lending program by finding a bigger pool of depositors who are eager to fund solar loans.

Steven Schnall, the New York community development financial institution's founder and CEO, discusses its plans to let customers buy and sell bitcoin through their bank accounts, use a ring to make debit card purchases and have a better shot at a home loan.

First United Bank in Oklahoma bought a minority stake in Exencial Wealth Advisors instead of acquiring it outright to give the owners an incentive to stick around and help build the business — and to make it easier for the bank to bail if things don't work out.

Stacy Kymes, the bank's chief operating officer and a 25-year company veteran, will succeed the retiring Steven Bradshaw.

Banks should favor the development of U.S. data rules that let them freely share consumer information with, and receive it from, fintechs. The alternative, where banks merely send data to third parties for a fee, would be less competitive and less beneficial for all parties.