Finance

Commercial lending provided a boost for some regional banks in the third quarter, but further rate cuts and a slowing economy could challenge future growth.

Galileo has raised $77 million in its first round of venture capital funding backed by Accel and Ryan Smith, CEO of the software firm Qualtrics.

The U.K.-based fintech says that a recent crowdfunding campaign shows demand for its product, even though the amount it raised is well below funds obtained from VCs.

The banking industry will continue its fight against the credit-loss rule; the bank posted gains in consumer, wealth management and commercial lending.

The Pittsburgh company’s “branch lite” approach to retail and middle-market banking in new markets will break even sooner than expected and has had a noticeable impact on loans and deposits.

The Minneapolis company attributed the uptick to new tech tools, additional loan officers and other process improvements — not to mention the refi boom fueled by lower rates. It’s a formula other banks are expected to copy.

They’ve long used their marketing muscle to wrest deposit share from smaller competitors. Now, amid growing concerns that the economy is weakening, they could be benefiting from consumers’ flight to safety.

The Dallas company also warned of a decline in net interest income this quarter due to the anticipated impact of Federal Reserve interest rate cuts on loan yields.

The application for Riverside Bank of Dublin comes just six months after another group opened a bank in a nearby market.

The Minneapolis bank says recent investments in its retail operation contributed to strong improvement in home lending and mortgage banking fees.