Finance

Berger Financial Group plans to more than double its footprint and staff, and Investcorp is looking at more opportunities beyond supporting Berger in the "untapped" wealth space.

Gateway Bank, which has narrowed its losses under new CEO Mukhtar Ali, hired a team of residential-construction lenders to speed its return to profitability.

From showing up authentically to understanding oxytocin, a session at this week's CAAFP held by The American College of Financial Services called into question some traditional industry approaches to planning.

The neobank in the second quarter blew past Wall Street's expectations and posted its second quarter of GAAP profitability as its payments-centric business model continues to resonate with consumers and challenge incumbent banks.

Record lending drove a top-line gain on the year but one-time costs from reverse mortgage servicing sales and negative fair value changes hurt the bottom line.

The payment company's CEO says it's developing and shipping products faster despite cutting nearly half of its staff. It's a strategy he says can be replicated at other businesses.

The bill, which is meant to free up housing supply locked in by high mortgage rates, does not include assumable mortgages which stick with the property.

The online lender said its national bank will become the "primary originator," displacing the banks that are lenders of record. Loan buyers keep their role.

The Federal Reserve governor said inflation is too high but said she ultimately voted last week to hold interest rates steady to give recent economic trends more time to play out.

It has been one year since the payments fintech launched Genius, its refreshed point-of-sale and payments platform, as a lynchpin in the company's attempted turnaround. Now, the company is looking to add more conversational AI features.

Bond yields rose after Federal Reserve Chair Kevin Warsh's second press conference last week, and bankers may have to accept higher rates as the price of a more parsimonious Fed.

Two presentations at The American College of Financial Services' CAAFP discussed how successful careers in the industry require both technical and emotional skills.

A portfolio review initiated by BCB Bancorp's new CEO, Tom O'Brien, led to a spike in nonaccrual loans at the Bayonne, New Jersey-based bank.

The competitive and controversial leader, who will stay on the board, oversaw rapid growth but also a massive downsizing, and a notorious mass firing over Zoom.

RIA owners may feel a "moral dilemma" when considering selling their firms to private equity-backed acquirers. But that didn't prevent PE involvement from reaching a record high in M&A deals in the second quarter.

The deal bolsters Zions' ability to serve multifamily customers and creates a natural extension of its affordable housing lending program, management said.

LPL saw its net income swell while considering price changes meant to lower payouts on client assets.

Coastal Financial in Everett, Washington, is reshuffling its management team and abandoning an expansion plan. On Thursday, the bank reported a nearly $69 million credit expense sparked by a fintech partner's deteriorating financial condition.

SEC data compiled by Paithos Research suggests that the massive growth of RIAs looks much different when compared to their small net new clients.

The mortgage technology unit of Intercontinental Exchange reported a return to profitability in the second quarter, as revenues continued their recent rise.