Corporate governance

An industry consultant thinks Edward Jones' latest bid to start a bank is an attempt to add revenue sources as the traditional brokerage business becomes less lucrative.

Goldman Sachs, Bank of America, Wells Fargo and Truist are facing pressure from ISS, Glass Lewis and SOC Investment Group over their 2024 pay packages.

Equity Bancshares said it would pay nearly $87 million in cash and stock to acquire NBC Corp. of Oklahoma. If it closes, the deal will be Equity's 13th bank acquisition since 2015.

The first year of Otting's tenure as the New York lender's CEO brought substantial change, but the job isn't done. His goal: to build a powerhouse, profitable regional bank.

The proposed sale of Territorial Bancorp faced competing offers that delayed its closing by several months. But Hope ultimately won shareholder and regulatory approvals.

"I can't just go fishing in the ocean," said Grasshopper Bank CEO Michael Butler, referring to his bank's ability to gather deposits. "JPMorgan Chase is out there with a yacht, and I'm driving a small speedboat."

Small lenders across the country, including Forte Bank in Wisconsin, promoted and recruited chief executives in recent weeks.

The bank now offers personal loans up to $50,000 to State Farm customers, the latest step in its effort to broaden its customer base by teaming up with other companies.

Royal Bank of Canada executives said they plan to start originating more mortgages in the United States, and they indicated that they may ditch the City National Bank brand.

The Connecticut bank disclosed that Nasdaq waived a shareholder approval requirement so it could urgently raise more than $50 million. Patriot also said its finance chief would step down.

The Mississippi lender said regulators have signed off sooner than expected on its $103.6 million acquisition of First Chatham Bank. The bank's CEO and deal advisers said the speedy approval bodes well for future M&A.

Georges Elhedery aims to double down on HSBC's investment-banking operations in Asia and the Middle East after exiting key businesses in the U.S. and Europe.

The number of shareholder proposals appearing in banks' proxy statements is down significantly this year, due to Trump-era regulatory changes and new concerns about political blowback.

The Connecticut bank said its newly minted president, Steven Sugarman, successfully led a private placement and signed a long-term employment agreement that makes him a potential CEO. David Lowery, current chief executive of Patriot, plans to step down in April.

Federal Reserve policymakers said that the U.S. economy remains on sound footing, despite recent setbacks, and that two interest rate cuts lie ahead. Bank stocks advanced on hopes for loan growth and more M&A.

The Independent Community Bankers of America wants Congress to eliminate tax exemptions for credit unions with more than $1 billion of assets, scaling back an earlier request that would have targeted the entire credit union sector.

The U.S. arm of Spanish banking giant Banco Santander is offering a high-yield savings account through its digital bank, Openbank, to eligible Verizon customers, a move that will introduce Santander to millions of potential new customers.

Bankers' surveys of commercial clients have found that corporate decision-makers are less concerned about adverse tariff effects than nervous investors.

Disaster relief is capturing a large share of philanthropic giving from banks such as Truist Financial and Western Alliance Bank.

The regional bank, which hired a commercial banking team away from Citizens Financial Group, has identified growth opportunities not only in the Garden State, but also in Pennsylvania and Texas.