Corporate governance

The credit union expects to open at least eight branches across the country in the months ahead, about half of what it normally adds to its brick-and-mortar network in an average year.

The banker, who led the 2013 recapitalization that created Byline, will replace a longtime colleague who will continue to run the company's bank.

Broadway Financial had hit a plateau and was in search of a successor to its longtime CEO Wayne-Kent Bradshaw. After the Los Angeles company rejected two buyout offers, Bradshaw reconnected with an old friend at CFBanc in Washington.

A deal to bring Coulee Dam FCU into the fold will expand the Spokane, Wash.-based credit union's branch network while providing a wider array of technologies to the former CDFCU members.

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.