Corporate governance

Ellison-Taylor, an expert in technology and finance and former chair of the American Institute of Certified Public Accountants, is the second Black woman and fourth person of color on the Minneapolis bank's board.

The Georgia company increased its target for annual expense cuts and new revenue to $175 million from $100 million. But executives warned that low interest rates and weaker mortgage volume, along with a need to invest in technology, will delay some of the bottom-line benefits.

Intensifying competition from banks could persuade large credit unions — particularly those with more than $1 billion of assets — to join forces in 2021.

The companies are reacting to an ongoing shift in customer preferences to digital channels.

The Maryland company agreed to improve its risk and compliance controls, estimating that it will cost $2 million to make changes.

Amerant Mortgage includes several former bankers from City National Bank of Florida in Miami.

Nitin Mhatre, who ran Webster's consumer and business banking operations, will become the company's third CEO in less than three years.

The Louisiana company has agreed for the second time to acquire Cheaha Financial Group in Alabama.

The Minnesota credit union's deal for Brainerd Savings & Loan comes about 11 months after it bought Neighborhood National Bank in Minnesota.

Flush with capital from issuing subordinated debt, Peapack-Gladstone is exploring acquisitions in Florida and New York in an effort to generate more fee revenue.