Industry News
The Columbus, Ohio, company expects to record a pretax gain of $57 million from the transaction, which will more than offset the costs of two other recently announced initiatives.
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Lexicon Bank's cautious approach to its balance sheet helped it weather the pandemic and avoid some of the mistakes that plagued other failed banks.
April 11 -
Police identified the gunman as Connor Sturgeon, a bank employee who used a rifle to kill four people inside the bank. He was later killed by police, according to the authorities.
April 10
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Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.
April 2 -
Plaus had planned to leave the bank after March 31. But Merrill head Andy Sieg's sudden departure for Citigroup triggered an executive shuffle.
April 1 -
Since 2011, and in ever-growing volume, credit unions have been buying community banks. Some see it as the free market at work while bankers say this is another example of credit unions' unfair advantage.
March 31 -
In a sudden shift, Merrill's leader of the past six years is heading back to rival Citi, where he will be head of global wealth and drive its expansion.
March 30 -
Organizations must have fully-staffed internal controls to manage risk and ensure regulations are properly followed.
March 23 -
On top of recession fears and elevated regulatory scrutiny, worry about the banking industry's weakness could delay the approval of mergers such as Toronto-Dominion Bank's pending acquisition of First Horizon.
March 20 -
The high-stakes acquisitions of 2008 and subsequent legal liabilities have sapped enthusiasm from many prospective buyers for Silicon Valley and Signature Banks. The Federal Deposit Insurance Corp. may end up having to sell assets piece by piece.
March 17
