Finance

The bank said the move will give it more flexibility for raising capital.

The Connecticut company, which began reviewing its operations in January, said the effort gained momentum when the coronavirus pandemic hit.

The company will close nine branches over the next three months.

Many of the Buffalo, N.Y., bank’s commercial loans have exited forbearance granted in the early days of the pandemic — except hospitality and retail, which were given longer dispensation.

The Cincinnati company, one of just a handful of lenders to reduce its cushion against bad credits in the third quarter, was grilled by analysts who suggested it was being too optimistic about the long-term effects of the pandemic recession.

Discover Financial Services shares surged after the company said spending on its cards improved in September, the first increase during the pandemic.

Discover Financial Services shares surged after the company said spending on its cards improved in September, the first increase during the pandemic.

Highlands Banking would be based in a community near the state's borders with Georgia and South Carolina.

The Oregon company unveiled a sweeping cost-cutting plan that includes more remote work opportunities and up to 50 branch closures.

The company, which shuttered six locations in September, plans to close 14 more branches by the end of this year.

The company will close branches and cut jobs, with plans to reinvest some of the savings into digital enhancements.

The Cleveland company will exit indirect auto lending and close branches so it can devote more resources to mortgages, student loans and other relationship-driven, digital-friendly businesses.

The coronavirus pandemic has spurred more private buyers to acquire senior care homes, and the Oklahoma lender is eager to back them.

Banks have managed to steer around trouble spots in energy, hotel and mall-related credits. But fears of further deterioration, an eviction wave or more job losses are keeping lenders circumspect.

Weak loan demand, persistently low yields and the continued struggles of sectors such as hospitality and retail are among the myriad lending challenges facing small regional banks.

The Dallas bank has begun encouraging larger borrowers to seek forgiveness of Paycheck Protection Program loans first as it holds out for the government to streamline the process for loans below $150,000.

The new policy will allow the company to close some work sites and reduce the size of others. It’s part of a broader effort to cut expenses to help offset revenue declines brought on by the coronavirus pandemic.

Mexican payments startup Klar has raised $15 million in a Series A round in an effort to challenge traditional banks by expanding access to debit cards and credit lines.

Both the Federal Deposit Insurance Corp. and the American Bankers Association are encouraging the industry to offer basic products that could bring more unbanked households into the financial mainstream.

The company will close eight locations, noting that customers have been quick to adopt digital channels during the coronavirus pandemic.