Finance

The Buffalo-based company donated a record $50 million to its charitable foundation to honor its former CEO Robert Wilmers, who passed away in late 2017.

Merger- and tax-related charges took a bite out of fourth-quarter profits at the Cleveland company, but its CEO emphasized that a recent deal and tax reform are promising for growth.

Bank says most of the benefits from tax reform will be used for dividends and buybacks; Michael Loughlin will stay on until his replacement is named later this year.

A large writedown on its portfolio of taxi medallion loans marred an otherwise strong fourth quarter for Signature Bank in New York.

The Mississippi company reported strong loan growth, even as it reduced exposure to energy-related borrowers. Higher revenue also helped Hancock lower its efficiency ratio.

Endeavor Bank, which raised nearly $27 million, will become the second new bank to open in California in the past year when it debuts next week.

Executives at U.S. Bancorp and Bank of America plan to use their tax savings to ramp up spending on new technology to stay competitive — but they sought to reassure investors that they would not abandon cost control.

Liberty will add a branch in Kansas City, Mo., along with three locations in nearby communities.

Blue Lion Capital, which had a recent request for a board seat rejected, plans to nominate multiple people to run for the board at HomeStreet's next annual meeting.

Ameris, which was operating under a regulatory order when it agreed to buy Atlantic Coast, agreed to pay more money if it failed to complete the acquisition by mid-2018.

Total loans rose 3% at the Minneapolis bank, but its net interest margin climbed 10 basis points. It also booked a one-time accounting gain of $910 million related to tax reform.

The company is gaining heft in Michigan's Upper Peninsula with its $34 million purchase of First Federal of Northern Michigan.

Costs fell less than 1% to $54.7 billion in 2017, and its goal for 2018 is $53 billion. Analysts question whether revenue growth and tax relief will reduce the incentive to get leaner.

Write-down clears the decks for better times ahead; the agency’s acting head is looking to revamp strict rule that went into effect on Tuesday.

The company, which bought BNC Bancorp to enter North Carolina last year, recorded $19.1 million in merger-related expenses and an $8.3 million pretax loss tied to investment securities.

Tax reform and other regulatory factors could allow Citigroup — and other banks — to maintain high capital levels and strong rewards for shareholders.

The company agreed to buy First Priority Financial for $82 million in stock.

Kevin Fitzsimmons, who had recently covered banks for Hovde Group, will become FIG Partners' deputy director of research.

Though business owners are more optimistic about the direction of the economy since the tax law was passed, it's doubtful their borrowing will increase meaningfully until they see more signs of more robust growth, bankers say.

Gift card giant Blackhawk Network will be acquired by the tech investment firm Silver Lake, along with P2 Capital Partners, for $3.5 billion in a move underscoring investor interest in the shift to mobile digital technology, where Blackhawk devoted millions in recent years.