NEW YORK CITY – NCUA yesterday liquidated Convent FCU, a $175,000 church-based credit union.
The 50-year-old credit union, which served 213 members of the Convent Avenue Baptist Church in New York City, is the 11th credit union failure in 2010.
Convent FCU hasn’t had more than $350,000 in assets in the past six years and had negative net worth when NCUA shut it down.
There were 28 credit union failures last year.
At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
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The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
