Growth strategies

From scams to watch out for to the role banks play in an SBA virus loan program, news about the pandemic's impact was everywhere. Also: As State Farm bows out, U.S. Bank seizes an expansion opportunity; CFPB sues Fifth Third for allegedly opening phony accounts; and more from this week's most-read stories.

The Biloxi, Miss.-based institution has been adding branches and entering markets and now has absorbed Mississippi Farm Bureau Employees Credit Union.

The agency will be tasked with providing $50 billion in loans to small businesses harmed by the pandemic. It is unclear whether the SBA will need help from banks and CUs.

The company will enter an affluent New Jersey county and a key New York market with the $209 million deal.

The North Carolina company will hold onto the loans after the Fed's decision to slash interest rates.

The Georgia company will expand into central and southern Florida by buying the parent of Seaside National Bank & Trust.

The outbreak and a free fall of oil and stock prices are rattling bankers at this year's ICBA gathering in Orlando, Fla.

State Farm struggled to make its bet on banking pay off and decided like other insurers to exit the business. U.S. Bancorp swooped in to add deposits and credit card accounts at little cost or risk.

With prices rising rapidly and loan terms increasing, some institutions may want to consider adding a leasing option to their auto loan portfolio.

The company will pay $25 million in cash for Carroll Bancorp in a deal between Baltimore-area banks.

The South Florida company said Alberto Peraza, who played a key role in its 2018 initial public offering, is leaving for personal reasons.

Now known as Explorers Credit Union, the Yankton, S.D.-based shop serves consumers across South Dakota and Nebraska.

Richard Herrington's buyout pitch to smaller banks is to offer them a way to survive and keep their local brands.

The company agreed to buy Advantage Community Bancshares weeks after announcing a deal for Commerce Financial.

San Francisco Bay Area Educators Credit Union became part of San Francisco Federal Credit Union earlier this month.

Credit unions could be feeling some of the heat from critics of their bank takeovers, or simply gearing up for another round of activity.

Tony Aylsworth, chief risk officer, is taking over as president so CEO David Milligan can concentrate on acquisitions.

The companies spent much of the past decade completing smaller deals that created complementary footprints in the Southeast.

Executives outlined changes in energy lending policies, said that the largest U.S. bank has only scratched the surface in middle-market credits and discussed their preparations in case of an economic slowdown.

NCUA board member Mark McWatters defended the agency's position on credit union-bank purchases and called out the ongoing sniping on both sides of the argument.