Finance

The North Carolina company agreed to pay $38 million in cash for First South Bancorp.

Silver River Community Bank is the fifth de novo in Florida to apply with the FDIC in the last three years.

Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.

The central bank’s investments under its quantitative easing program have put its balance sheet in the red under mark-to-market accounting, another potential risk for an agency already under political fire.

Acting Ginnie Mae President Michael Bright will leave his post on Jan. 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.

The 10 startups will receive initial investments, mentoring and training as part of the ICBA ThinkTECH Accelerator.

The bill would require at least one gender diverse and one racially or ethnically diverse candidate to be interviewed for Fed regional bank president vacancies.

Efforts to build better connections to bank customer data, trade digital currency and explore artificial intelligence for security and compliance purposes were some of the biggest draws of fundraising for U.S. startups.

There had been a cascade in recent days of downgrades and other negative forecasts in connection with big banks, but some analysts on Wednesday picked up the industry's argument that fundamentals are stronger than the markets are giving banks credit for.

The credit union service organization based in Florida has returned more than $500 million in patronage dividends since 1994.