Corporate governance

The Reno, Nevada-based buyer said it would pay $64.6 million in cash and stock for Cornerstone Community Bancorp, and it expects to close the transaction in the second half of the year.

Financial services providers in the region say they're ready to do their part rebuilding Southern California after a series of devastating fires. For many regional and community banks, initial fire-damage surveys identified limited impact.

The Dallas-based bank's fourth-quarter earnings beat analysts' forecasts. Texas Capital raised its estimate for 2025 adjusted fee income to $270 million.

The Cleveland-based parent company of KeyBank is forecasting net interest income growth of about 20% for 2025, even as it predicts that average loan balances will decline by low-to mid-single digits year-over- year.

The super-regional bank plans to invest in talent, technology and certain locations in 2025, while keeping its expenses in check, to achieve the promise of the merger that created it, CEO Bill Rogers said.

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

Advisors predicted that more banks will do deals and those transactions will be larger in 2025 amid expectations for lighter regulatory scrutiny.

The largest U.S. bank by assets has elevated Jennifer Piepszak to chief operating officer, in preparation for Daniel Pinto's retirement in 2026. But Piepszak is not interested in being CEO, the company said.

The bank said it would acquire Bank of Idaho for $245.4 million in stock. It marked the 12th bank deal for Glacier over the past decade.

The Consumer Financial Protection Bureau issued a proposed rule that would protect consumers from abusive contract provisions modeled on the Federal Trade Commission's credit-practices rule.

Bankers are putting pre-established action plans for disaster recovery into motion as wildfires in Los Angeles sweep across the region.

The Federal Reserve Board on Friday approved UMB Financial's pending $2 billion acquisition of Heartland Financial.

Heightened expectations for increased economic activity could boost loan demand after a soft 2024.

Florida-based Amerant Bancorp recently restructured its securities portfolio after selling its Houston branches.

Arrow Financial in Glens Falls kept busy in December, consolidating its two subsidiary banks, expanding its board and restructuring its securities portfolio.

The Florida company completed its purchase of Independent Bank, increasing its liability sensitivity and jumping to $65 billion in assets.

The Honolulu-based utility sold a 90.1% stake in American Savings Bank. The deal valued the lender at $450 million.

Transactions grew larger and more frequent this year. As a result, aggregate value more than tripled from 2023 and topped $15 billion.

The New Canaan, Connecticut-based company agreed to allow Larry Seidman, who sits on its board, buy an additional 5% of its shares. Seidman currently owns about 9.5% of Bankwell.

The Pennsylvania-based buyer said it would pick up nearly $350 million of assets and a commercial-focused loan portfolio as part of the $54.6 million deal.