BROOMHALL, Penn. – State Financial Network, a credit union-owned mortgage bank, has promoted Michael Magnavita, its chief financial officer, to be president and CEO.
John Unangst, current president of the company who also heads Franklin Mint FCU, will continue to serve as chairman of the board.
State Financial is a wholly owned CUSO of the $600 million credit union. It has a mortgage servicing portfolio of more than $500 million.
Florida, Georgia, Texas and Arizona are all states where U.S. Bank, which operates mainly in the Midwest and the West, sees growth opportunities.
Many advisors want asset managers to do more than provide access to investments. A new Cerulli report suggests they should emphasize practice management strategies rather than business growth.
The robots, which have the dexterity of a human arm and can open envelopes, remove staples, and scan documents, are being used in its Chicago lockbox and will eventually be deployed in its six other lockbox locations across the U.S.
The crypto company made the acquisition to expand its institutional platform after it received approval from the OCC for a national trust bank charter.
Borrowing against art can offer liquidity without triggering capital gains, but high costs keep it from becoming a first-choice strategy.
A continuing resolution to fund the government through mid-December would prevent the White House from blocking grants — including some in the banking sector — to states and municipalities that voted against President Donald Trump.
