Corporate governance

FNB Bank in the hard-hit community of Mayfield lost its headquarters during the catastrophic storms. It and other financial institutions are aiding local residents who are now taking stock of the damage.

Daniel Pinto was awarded 750,000 options in the form of stock-appreciation rights ahead of his promotion next month to sole president of the company.

Conservative groups have sued the Securities and Exchange Commission and the state of California to overturn rules requiring banks and other companies to add more women and minorities as directors. Experts say the legal challenges are unlikely to change how corporations think about boardroom diversity.

A clash among FDIC board members has intensified a debate about whether regulators should take a tougher look at large M&A deals. House Financial Services Chair Maxine Waters added to the frenzy by calling for a moratorium on approving big acquisitions.

For the third time since the start of the pandemic, the Richmond, Virginia, company will close branches to contain costs in what it calls a “challenging macroeconomic environment.”

The Georgia bank estimates that it will save $12 million annually by shutting down 40 branches.

In a semiannual report on trouble spots in the banking sector, the Office of the Comptroller of the Currency raised concerns that banks are taking on too much risk in pursuit of earnings growth.

Coming out of the pandemic, traditional banks will have just two years to update their business models or they risk falling behind more innovative peers and aggressive upstarts, the consulting giant warns in a new report.

Canadian Imperial Bank of Commerce is having a harder time keeping costs in check as inflation picks up and the lender invests in its domestic consumer franchise.

The Federal Deposit Insurance Corp. might need to borrow money from the Treasury Department to manage the orderly liquidation of a systemically important bank. But if Treasury can’t legally issue more debt, that money may not be available.