Corporate governance

SouthState Corp. plans to purchase Independent Bank Group in a $2 billion deal, marking an end to the latter bank's long run of buying companies. Chairman and CEO David Brooks pointed to a challenging interest rate environment and heightened regulatory scrutiny as reasons he decided to sell.

Shareholders at America's largest bank voted against requiring an independent board chair, though the proposal drew more support than similar measures did recently at other megabanks. The vote came just one day after Dimon signaled that his departure as CEO may be on the horizon.

Getting appointees confirmed by the Senate can be a time-consuming and painstaking process in ideal circumstances, and doing it in an election year amid a scandal is far from ideal. Even so, the White House and Senate Democrats should be motivated to move fast.

One year after it bought First Republic Bank, the largest U.S. bank by assets is launching J.P. Morgan Private Client, a new tier in its affluent-consumer services that brings together JPMorgan's brand with First Republic's concierge model.

The Florida-based bank, which has been expanding across the South, would enter major markets such as Dallas and Houston with its planned all-stock acquisition of Independent Bank Group.

New York Community Bancorp hasn't said who will replace Chief Operating Officer Julie Signorille-Browne, who is resigning amid a management shake-up.

The utility, under financial pressure following its involvement in the 2023 fires that ravaged Maui, reportedly is considering a sale of its profitable American Savings Banking unit. An executive declined to "speculate on any strategic transactions or alternatives."

CEO Kevin Cohee is convinced WiseOne, the AI companion OneUnited Bank rolled out late last year, can help customers make better financial decisions. Cohee also wants to see his passion for personal fiscal improvement play to a wider audience, through development of a nationwide financial literacy curriculum.

What lies ahead for the banking industry this year? Here's what analysts and investors are tracking after the latest bank earnings reports.

Rep. Andy Barr, R-Ky., is asking the Federal Deposit Insurance Corp. to withdraw a corporate governance guidance proposal as FDIC Chair Martin Gruenberg is set to testify in Congress later this week.