Corporate governance

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.

Credit unions on the Corda blockchain platform will be able to make payments via EFT with CU Pay, a product the CUSO plans to roll out next year.

Banesco USA agreed to buy Brickell more than a year after Banco Espirito tried to sell the Miami bank to a Swiss financier.

Credit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services.

Blue Ridge Bankshares will be based in Charlottesville, Va., after completing its $43 million purchase of Virginia Community Bancshares.

Heritage will have 17 branches around San Francisco when it completes the $200 million acquisition.

A federal judge has given preliminary approval to the proposed settlement of a lawsuit under which insurance companies have agreed to pay $240 million for losses the San Francisco bank incurred from the widespread opening of fake accounts.

The company offers an operating system for financial applications akin to Apple's iOS, and more than 1,000 applications run on it.

Under the Treasury Department's Financial Agent Mentor-Protégé program, JPMorgan Chase is advising two black-owned banks on working with the agency in ways that could boost their fee income.

The Defense Credit Union Council and the Association of Military Banks of America sent dueling letters to Congress about whether banks should pay for space on military installations.

The New York bank says it acted appropriately in withholding the collateral on a loan to a developer that First Foundation Bank later refinanced. First Foundation’s CEO begs to differ.