Finance

The Ohio company has opened just 32 of 120 new branches it plans in the region by 2022, but those offices are making a sizable contribution to growth.

The Cleveland company had a strong quarter for investment banking as midsize companies raised capital to fund growth initiatives. Executives expressed confidence that such activity will translate into more loans over the second half of 2021.

Chargebee, a startup that helps enterprises with subscription billing and revenue management, raised $125 million in funding and boosted its valuation to $1.4 billion, reaching so-called unicorn status for the first time.

Climate First Bank has raised $29 million in initial capital, surpassing the $17 million target set by the Federal Deposit Insurance Corp.

Unlike many of its peers that are plowing funds into securities, M&T has opted to wait and see if the deposits stick around before investing them in “low-return assets," said CEO René Jones.

The Maryland company recently raised $345 million to form the subsidiary and fund growth opportunities for its bank.

The leaders of Citizens Financial and Truist predict lending will bounce back in the second half of 2021 as the economy normalizes. But PNC chief Bill Demchak says there are scant signs that businesses are gearing up for a rebound.

Surging used-car prices — brought on by a combination of strong consumer demand and limited new-vehicle supply — are boosting loan yields and profits at the Detroit company.

The Arkansas company, once a prolific acquirer, last bought a bank in 2017 but now has three M&A deals in the works as it seeks new sources of growth.

Organizers of Integrity Bank for Business must raise around $19.9 million before they can open the bank.