Industry News
MVB Financial's agreement to buy Integrated Financial Holdings has fallen through, with both sides citing an uncertain economic outlook and potential regulatory challenges. It's the second M&A deal to be scrubbed in the past week.
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Just 20% of financial-services companies require full-time in-office work, according to a new survey of 251 industry firms by Scoop, which helps companies coordinate hybrid teams.
May 9 -
Because the Canadian bank pulled the plug on its takeover of Memphis-based First Horizon, a deal it negotiated with community groups won't take effect. Still, community groups are asking TD to uphold portions of the agreement.
May 8
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Industry leaders had predicted that JPMorgan Chase's regulator-assisted purchase of First Republic would bolster investors' faith in the sector. But the stock prices of certain regional banks have continued to fall, prompting concerns that selloffs could lead to deposit outflows.
May 4 -
The companies cited an inability to secure regulatory approvals after postponing multiple times a closing that had been originally expected last fall.
May 4 -
Industry leaders hoped that the emergency sale of First Republic Bank would quell investors' fears, but many banks saw big stock price declines on Tuesday. The instability could put pressure on lawmakers and policymakers to take more decisive action.
May 2 -
Jeff March, president and CEO of Citadel Credit Union, will retire after nearly 23 years at the helm.
May 2 -
The faltering bank's sale could work to quell any lingering unrest among depositors at other banks, according to analysts. "No one likes to see a bank fail, but it's good to have really the last remaining source of uncertainty resolved," said Citigroup CEO Jane Fraser.
May 1 -
An emergency deal for First Republic Bank will help boost JPMorgan's wealth management business. But company executives acknowledge that there are questions about how many of the failed bank's clients and wealth advisors it will be able to retain.
May 1 -
First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. San Francisco-based First Republic was undone by low-rate mortgages it made to its wealthy customers as well as by the fallout from last month's banking crisis.
May 1
