Corporate governance

CEO Charlie Scharf’s long-awaited expense-reduction plan got a chilly reception from investors.

The Pittsburgh company intends to continue adding commercial offices and retail branches in markets it had been eyeing before agreeing to buy BBVA USA for $11.6 billion.

Diane Arnold, who will succeed the retiring Gregory Shook in July, has been with the bank since 2002. She is currently the chief lending officer.

The deal is a sign of further consolidation among Twin Cities-area credit unions, following another combination announced in May.

The bank agreed to acquire A Mortgage Boutique, which operates in six states.

The Mississippi bank will pay $108 million for the parent of FNB Bank, which has branches in Alabama, Georgia and Tennessee.

Driver Management will try for a second straight year to gain a board seat at First United.

The Stamford, Conn.-based credit card issuer said Tuesday that Brian Doubles, the president and former chief financial officer, will succeed Margaret Keane in April.

Bank of America’s employee-funded political action committee is putting its allocation decisions on hold after a right-wing mob stormed the U.S. Capitol last week.

Flush with excess capital, Bank of Montreal, TD Bank and others say they might be in the market to do a cross-border deal.