Consumer Finance

Orange Bank and Trust in Middletown says it will operate as a boutique commercial bank, focusing on small business, nonprofits and the borough's sizzling housing construction market.

Banks that don't focus on credit cards for this market may find larger banks and fintechs are eating their lunch.

About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why aren't more using it?

The bank has hired an advisory firm to assess a potential sale, a capital raise or a strategic partnership after a prior merger fell through.

A slower rate of price increases would boost the likelihood of an interest-rate cut that could expand loan demand and lower banks' deposit costs. A higher pace of inflation, however, could derail those catalysts.

The Honolulu-based bank is taking a $19.7 million pretax loss to rid its balance sheet of low-yielding investments. It joined a parade of banks that have made similar moves.

Banking South Korean companies has become a major pillar of the Los Angeles-based Hanmi's balance sheet, with a portfolio of loans approaching $1 billion.

The unionization push by members of the bank's conduct management intake team has been hotly contested. If approved, it would represent a landmark in the effort to organize workers at the $1.9 trillion-asset bank.