BIRMINGHAM, Ala. – State regulators yesterday took over Mutual Savings CU and relieved the management and board of the $200 million credit union.
Tom Tatum, the former president of nearby Jefferson County Teachers’ CU, has been named interim manager and will oversee the day-to-day operations of the credit union along with the
Mutual Savings CU is the second area credit union to be taken over in recent weeks, with NCUA closing New Hope Community Development FCU on July 22.
Opportunity favors the prepared, and Cambridge Savings Bank had been saving for years to buy a nearby rival. Now, as the mutual bank announces plans to acquire First Seacoast Bank, it says it's found "the right deal at the right time."
Federal Reserve Gov. Michael Barr said Tuesday that the U.S. energy sector is more insulated from shocks than Europe's, particularly in natural gas prices. However, he warned that the war is pushing up gasoline prices, which could spill over into other parts of the economy.
If a card is immediately not easy and safe to use in an external app, consumers will quickly turn to another card, executives from Regions Bank, Pinnacle Financial Partners and Barclays warned American Banker's Payments Forum.
The payments company said payment volume increased, but net income decreased compared to 2025.
Carter Bankshares wants to widen its footprint in the Carolinas and may look to buy a bank, especially in South Carolina, where it set up a loan production office in November. The Virginia bank recently resolved a long-running dispute with a major commercial borrower.
CEO Brian Armstrong said the company will flatten its org chart to five management layers and concentrate hiring around "AI-native" pods.
