Corporate governance

The North Carolina bank, which has been facing pressure to curb spending, rolled out a plan that includes job cuts, the consolidation of businesses and lower technology spending. Analysts wonder whether it will soothe investor frustration over Truist's sagging stock price.

The CU Relief Fund for Ukraine, which launched in late 2022, now takes public donations and is working to recruit more institutions to its cause.

Merrimack Valley Credit Union is launching a disaster relief loan, William Daley will retire from Wells Fargo, New York Community Bancorp promotes Signorille-Browne to COO and more in the weekly banking news roundup.

Some analysts and investors want the North Carolina bank to make big changes to meet financial targets, which they say aren't being met more than four years after the BB&T-SunTrust merger. The critics will be closely watching a presentation by top Truist executives on Monday.

Chief Executive Rob Holmes, who launched an attempted turnaround shortly after taking the reins of the Dallas-based bank in 2021, is resisting the lure of share buybacks. Some investors may be growing impatient, but Holmes says the investments he's made are starting to pay off.

Financial institutions in several Southeastern states had braced for impact of the Category 3 hurricane. Bank and credit union executives in Florida and Georgia say their facilities generally weathered the storm but that some communities they serve face substantial recovery efforts.

The Canadian bank initially told investors the acquisition would result in more than $350 million in cost savings. But a recent analysis suggests that number could be even higher.

Consistent wins aren't typically about continuously introducing novel strategies, but about better and more consistent execution with proven ones.

The country's Big Six banks are seen as likely to continue struggling as they contend with deteriorating consumer finances and rising internal costs.

The brokerage plans to cut staff and close or downsize offices in response to investor pressure.