Corporate governance

Embers Credit Union and Upper Michigan Community CU will open their doors as a merged institution on June 3, nearly a year after members voted to approve the deal.

The bank will have about $1 billion in assets after it acquires Lighthouse Bank, which is also based in Santa Cruz.

New technologies can increase lending and reduce risk but many management teams don't know where to begin with implementing them.

In stark contrast to his predecessor, C. Allen Parker said Thursday he accepts regulators' criticism and suggested that the bank may struggle to achieve revenue growth until it moves past its regulatory woes.

SunTrust CEO Bill Rogers on Thursday explained the direction he and BB&T chief Kelly King are going with the new name, but gave no hints on what it is or when it will be unveiled.

The scandal-plagued bank announced Wednesday that it is adding a board member with deep experience in accounting. It is also considering a switch to flat pricing in indirect auto lending, a change long favored by consumer advocates.

Speaking at a conference on Wednesday, CFO Howell McCullough mostly ruled out a merger of equals as a growth strategy for the $108 billion-asset Huntington.

Having already recently absorbed Los Angeles-based Cedars-Sinai FCU, Credit Union of Southern California is now set to pick up tiny FedONE FCU.

More businesses are considering moving away from cash and checks, according to a recent survey by Citizens. That should be a wake-up call to smaller institutions, said Michael Cummins, who oversees treasury solutions at the regional bank.

The East Lansing-based credit union plans to open two branches in the Traverse City area, more than three hours north of its headquarters.

The McLean, Va.-based institution said that its capital hit a record $2.5 billion last year.

Anthony DeChellis’ strategy for staying relevant in a competitive metro market is a little odd — rebuild the private banking business his predecessor shrank — but observers say he might be the executive who can pull it off.

While regulation and nonbank competition are spooking some banks and credit unions, others believe low funding costs and the right relationships can help them succeed.

There have been six of these transactions announced this year and more are likely as credit unions look for loan and deposit growth.

The community-chartered credit union will now serve nine new counties following two years of reporting 2% or less in membership growth.

All-electric, zero-emission vehicles make up less than 2% of the market, but a handful of credit unions see an opportunity despite some unusual variables.

Metro Bank had worked to win shareholder support by raising fresh capital and cutting ties with Hill's wife's design firm.

While regulation and nonbank competition are spooking some banks, others believe low funding costs and the right relationships can help them succeed.

The 72% backing was the lowest approval rate for the resolution since 2015. An advisory firm criticized the bank's policy as too subjective.

The company agreed to buy Charter Bank, which has four branches and $161 million in assets.