Industry News
The specter of an economic downturn looms, but many companies are still in growth mode, according to Donald McCree, head of commercial banking at the Rhode Island bank. "We continue to hear from a lot of companies that they are doing quite well," he said.
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The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah.
March 1 -
A Piper Sandler survey of CEOs found a majority expect to expand their balance sheets this year. They also foresee increases in nonperforming credits, with office loans a key area of weakness, as well as heightened pressure on net interest margins.
February 27
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Banks with up to $225 billion of assets are making some progress in assessing climate-related financial risks, but they still lag behind bigger banks in taking action, according to a report from the consulting firm Baringa Partners US.
February 27 -
The Maryland bank is merging with Linkbancorp in a nearly $168 million deal that would create a $3 billion-asset company. The transaction comes just months after OceanFirst Financial and Partners nixed their merger plan, citing regulatory delays.
February 23 -
Driver Management Principal Abbott Cooper said the Dallas company failed to foresee the spate of interest rate hikes that have cut its profitability. Following the bank's latest rebuff, Cooper is threatening legal action.
February 22 -
The arrangement is designed to benefit commercial clients of both banks that operate on multiple continents. The companies reached the arrangement as part of the recent sale of Bank of the West.
February 22 -
The Los Angeles bank, which disclosed the layoffs in a securities filing, is undergoing a broader restructuring under its new CEO. The bank expects $30 million to $40 million of savings per year from the job cuts.
February 21 -
The findings suggest that it pays to build expertise in ESG, as some of the world's largest banks resort to deep cuts in more traditional corners of their business.
February 17 -
After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.
February 16
