Growth strategies

Midsize banks are more profitable overall than both their smaller and larger counterparts, and the strategy that some of the best performers in this group use to stand out is specialization.

Embers Credit Union and Upper Michigan Community CU will open their doors as a merged institution on June 3, nearly a year after members voted to approve the deal.

The bank will have about $1 billion in assets after it acquires Lighthouse Bank, which is also based in Santa Cruz.

SunTrust CEO Bill Rogers on Thursday explained the direction he and BB&T chief Kelly King are going with the new name, but gave no hints on what it is or when it will be unveiled.

Speaking at a conference on Wednesday, CFO Howell McCullough mostly ruled out a merger of equals as a growth strategy for the $108 billion-asset Huntington.

Having already recently absorbed Los Angeles-based Cedars-Sinai FCU, Credit Union of Southern California is now set to pick up tiny FedONE FCU.

More businesses are considering moving away from cash and checks, according to a recent survey by Citizens. That should be a wake-up call to smaller institutions, said Michael Cummins, who oversees treasury solutions at the regional bank.

The East Lansing-based credit union plans to open two branches in the Traverse City area, more than three hours north of its headquarters.

The McLean, Va.-based institution said that its capital hit a record $2.5 billion last year.

Anthony DeChellis’ strategy for staying relevant in a competitive metro market is a little odd — rebuild the private banking business his predecessor shrank — but observers say he might be the executive who can pull it off.