Growth strategies

Chuck Shaffer will take the helm in December, becoming the first leader outside of the Hudson family since the bank's formation in 1926.

The Michigan institution's asset base increased substantially in 2019 thanks to a merger but has continued to grow in 2020.

PNC open to deal that would boost assets to $700 billion; banks take hard line against accountants seeking fees for PPP referrals; rush to online banking during coronavirus has hackers salivating, bureau says; and more from this week's most-read stories.

Members at Malheur Federal Credit Union will vote later this year on whether to join Medford, Ore.-based Rogue.

The Oregon company tapped Tory Nixon to serve as president of its bank.

The credit union will pay an undisclosed amount for Community State Bank of Southwestern Indiana.

The Odon, Ind.-based credit union would gain six branches by acquiring Community State Bank of Southwestern Indiana.

The group behind NewBank is pursuing a charter with the Office of the Comptroller of the Currency to offer banking services nationwide.

Stephen Gordon would become chairman and CEO of Genesis Bank, which is looking to raise $53 million in initial capital.

Big banks call for blanket forgiveness of PPP loans under $150,000; Wells Fargo struggling to stay under asset cap amid pandemic, CEO says; banks are getting aggressive — and creative — to boost profits; and more from this week's most-read stories.

Butte Community Federal Credit Union, which previously served just one county, added five more after getting regulatory approval.

Past is not prologue, and a successful strategy for becoming a top-performing bank in 2020 is very different from what it might have been just six months ago.

The Warner Robins, Ga.-based institution, which switched to a state charter in 2016, has passed $3 billion in assets.

Stu Lubow, who succeeded Kenneth Mahon, gained more responsibilities. Mahon remains Dime's CEO.

Banks would be wise to dust off their Great Recession playbook and shed nonperforming loans while growing through M&A.

At least four pending deals have been canceled since the economy was locked down to slow the pandemic's spread. With banks' market values falling and loan-loss provisions piling up, more terminations are likely.

Texas Capital also said that Keith Cargill has stepped down as president and CEO.

The pandemic has already shown the importance of a robust tech platform for credit unions and that's only going to increase as things return to normal.

Some lenders are issuing debt and preferred stock to provide an extra buffer for credit losses. Others are preparing for growth opportunities.

Mike Maddox will succeed George Jones on June 1.