Corporate governance

VersaBank, which recently announced a deal for a tiny Minnesota bank, says volatility will increase demand for its loans. “Traditionally, we’ve grown rapidly when our point-of-sale financing partners have trouble raising financing,” said CEO David Taylor.

The Dallas bank is joining the branch-consolidation trend that has accelerated during the pandemic, announcing plans to shutter 22 branches in Michigan, Texas and California.

The North Carolina bank’s wealth arm now operates in nine of the 10 largest U.S. markets.

John Madigan, a Citigroup veteran, is leading one of five new private-client banking groups at Signature Bank. The moves are designed to enable the company to expand its footprint throughout metro New York.

The Pittsburgh company is adjusting the structure of a unit that has a national reach following the acquisition of most of BBVA’s U.S. operations. PNC has also named Jennifer Lee as the private bank’s head of U.S. markets.

Credit Suisse Group Chief Executive Thomas Gottstein batted away questions on whether the bank is a takeover target and said he’s still holding out hope for a profitable second quarter.

PayPal Holdings will let users transfer certain cryptocurrencies to other customers, exchanges and external wallets, a new service that’s part of the company’s effort to boost use of its app.

Citigroup plans to hire more than 4,000 tech staff to help move its institutional clients online in the wake of the pandemic.

Citigroup may record losses of at least $50 million following a London staffer’s fat-finger trade that caused a flash crash in European stocks last month, according to people familiar with the matter.

There is a gaping hole in the financial system in North Minneapolis, where people are preyed upon by payday lenders and fringe bankers, according to Debra Hurston, executive director of the Association for Black Economic Power. Hurston is creating a credit union for this community to help break residents out of a cycle of exploitation and debt. But the issue is far bigger than one city, and the opportunity is one that any bank or credit union can seize.

JPMorgan Chase CEO Jamie Dimon chastised institutional investors who follow the recommendations of proxy advisory services without doing their own homework. The comments came after the bank’s shareholders voted down pay packages for Dimon and other top executives.

The chief executive of Klarna Bank has polarized opinion on social media after posting a contact list of former employees recently dismissed by the Swedish company as part of a drive to curb costs.

PayPal Holdings began laying off staffers who worked in risk management and operations this week as the firm seeks to shore up profits after growth in spending on its platform stagnated in recent quarters.

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.

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.

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.

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.

Inside JPMorgan Chase, senior executives are counting on an investor day to redeem themselves from a routine January conference call now widely viewed as disastrous.

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.

Perennial No. 1 Oregon Bancorp, which operates as Willamette Valley Bank, boasts strong sources of fee and interest income, sound underwriting and vibrant geographic markets. It’s a formula shared by many on American Banker's list of the 200 highest-performing publicly traded small banks.