Corporate governance

A deal to merge Riverset CU into Allegant Community FCU will create the third-largest credit union in western Pennsylvania.

The pressure is on for banks to help Black and Hispanic households build net worth. Many say that starts with diversifying the ranks of middle and upper management.

Center Parc Credit Union, which will operate as a unit of Atlanta Postal, is set to open a pair of Walmart branches this year and a free-standing facility in 2021.

Citizens Bancorp Investment has agreed to buy American Bancshares in a deal expected to close later this year.

Jay Hendricks, the company's chief operating officer, will succeed William Foster in August.

Several big bank mergers fell apart after the coronavirus hit. But Bryan Jordan, First Horizon's CEO, said the pandemic validated plans to cut costs and invest more in digital upgrades.

Jim Nussle, CEO of the Credit Union National Association, recently argued that Congress should do away entirely with FOM requirements. Such a move would further favor credit unions over banks.

Backers say a bill to limit asset growth instead of restricting brokered funds addresses concerns about expanding balance sheets at troubled banks. But skeptics worry it would open the door to greater risk.

The New York commercial bank says geographic diversification is a long-term necessity and that the interplay of its private banking and commercial banking businesses has helped it withstand the economic shock of the coronavirus.

Jim Nussle, CEO of the Credit Union National Association, recently argued that Congress should do away entirely with FOM requirements. Such a move would further favor credit unions over banks.