Industry News
The addition of investment bank Capstone Partners and the wider geographic footprint that resulted from the acquisition of TCF Financial helped drive a 58% increase in net income during the third quarter.
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The Cincinnati bank reported strong growth from Dividend Finance, which offers renewable energy loans, and Provide, which lends money to health care professionals. The two units were bright spots as the company's net income dropped by 7.2%.
October 20 -
Citizens Financial said it would pay $67.4 million to buy HV Bancorp, the holding company for Huntingdon Valley Bank, in a bid to expand in Greater Philadelphia.
October 19
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The Boston company said Tuesday that its $3.5 billion acquisition of Brown Brothers Harriman's investor service business is facing pushback from regulators. The deal's completion is now in doubt even though State Street has come up with a number of modifications, including lowering the purchase price.
October 18 -
Third-quarter results at the Minneapolis bank were powered by loan growth and rising interest rates, partially offset by lower noninterest income. Shortly after the company released its earnings report, it received regulatory approval for its acquisition of MUFG Union Bank.
October 14 -
The regulators laid out several measures that would change how large but not global systemically important banks capitalize and structure themselves.
October 14 -
The Southern California branches will be sold to HomeState Bank, a Seattle-based community bank. The Department of Justice required the sale as part of U.S. Bancorp's pending acquisition of MUFG Union Bank.
October 13 -
The megabank made its first-ever disclosures about financed emissions in a report aligned with the Task Force on Climate-related Financial Disclosures. "The complexity of this process only served to highlight the critical need for consistent, verified public reporting of emissions and other climate-related data," the bank stated.
October 6 -
Daniel D. Robb of Jonesburg State Bank takes over as chairman of the American Bankers Association, which elected officers and board members for 2022-23 at its annual convention.
October 4 -
Financial institutions of all sizes — from JPMorgan Chase to SouthState to Fairwinds Credit Union — have reopened many branches, rolled out mobile banking units as well as reemployed pandemic-era digital and loan-forgiveness strategies in parts of Florida and South Carolina devastated by the powerful hurricane.
October 3
