Growth strategies

Bank of America revamped leadership across its wealth management business, placing more responsibilities on current heads Andy Sieg and Katy Knox.

The Tennessee bank reported an uptick in commercial lending during the fourth quarter. Executives pointed to the impact of a 2020 acquisition that allowed First Horizon to bulk up in in Florida, Georgia and Louisiana.

Citigroup CEO Jane Fraser is nearing the end of her organizational overhaul after deciding to cut loose retail-banking operations in Mexico. She will make the case at an upcoming investor day that the company is on the verge of producing stronger shareholder returns.

The Louisiana-based company is among a growing number of community banks that have taken on new talent in the wake of competitors' consolidation.

Kabbage and other firms are extending credit to fund higher salaries at the small merchants that are struggling to hire new employees.

Coming out of the pandemic, traditional banks will have just two years to update their business models or they risk falling behind more innovative peers and aggressive upstarts, the consulting giant warns in a new report.

Locality Bank in Fort Lauderdale and Gulf Coast Business Bank in Fort Myers would be the seventh and eighth banks to open in Florida since 2017 — the most of any state in that span. Organizers relish the chance to start from scratch, but some observers lament the drop-off in de novos from the pre-crisis era.

KeyCorp, Zions and Capital One are among the companies making big moves in a sector that is growing fast and viewed as recession-proof.

Despite some bumps in the early days of the Paycheck Protection Program, small businesses report that they had positive experiences with lenders. Savvy banks are channeling the good vibes to generate more revenue from a sector that has sometimes been overlooked.