Corporate governance

BMO Financial Group has sold a U.S. credit card portfolio and exited a franchise loan portfolio as part of an effort to achieve a return on equity of at least 12% in its U.S. business.

A recent deal involving a troubled Texas bank shows that even the most lopsided depository can find an exit.

Five years after the pandemic forced banks to switch to online annual meetings, shareholders are growing frustrated by the lack of in-person options. Some wonder if they'll ever again be in the same room as boards and management teams.

The Connecticut-based community bank announced a raft of new board and executive appointments, giving shape to a new strategy aimed at winning more business from high-net-worth individuals.

MainStreet Bancshares in Fairfax hopes investors will endorse its plan to refocus on basic community banking after shuttering its embedded banking unit. But a prominent shareholder is urging management to sell.

Shareholder support for KeyCorp's executive compensation packages fell to 63% from 89% last year. Proxy advisory firms had recommended a "no" vote after the Cleveland-based bank made off-cycle awards to top executives.

The Pennsylvania company spent the last five years adding lines of business, cleaning up its balance sheet and leveling up its technology. This year, Customers needs to churn out consistent earnings to prove that the investments were worth the costs.

Richmond, Virginia-based Atlantic Union is still integrating its recent acquisition of Sandy Spring Bank in Maryland. But CEO John Asbury has already begun plotting a new expansion course.

The Dallas-based company's broker-dealer arm, Texas Capital Securities, has also made several recent hires as it continues to expand its capabilities.

Private equity-backed consolidators need platform uniformity to grow — but without sacrificing acquired RIAs' unique strengths.

While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. "Unequivocally," said U.S. CEO Christiana Riley, "the opportunity … is so clear."

Truist, Texas Capital and Citizens Financial are among the banks that will be forced to address shareholder dissatisfaction over executive pay.

U.S. Bank and Wells Fargo attorneys say cyber governance is now a legal duty for corporate boards, not just a security staff issue.

After the Washington bank's rocky integration with Umpqua, investors are wary of its plan to acquire Pacific Premier Bancorp in Southern California.

The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.

The Pennsylvania bank, which is working to diversify its deposit base and increase its access to low-cost deposits, has brought on some 10 commercial banking teams in the last year.

The Wall Street giant's say-on-pay resolution garnered 66% support, down from 86% last year. Other banks' pay packages are also facing opposition from proxy advisory firms.

The Sunshine State deal comes following a banner year for credit union-bank combinations, despite pushback from community banking advocates.

Nashville-based FB Financial announced the opening of a new office in Asheville, North Carolina, a week after striking a $381 million deal for an Alabama-based community bank.