Industry News
About two-thirds of respondents in a survey of roughly 300 Bloomberg terminal users said the anti-ESG movement that started in the U.S. last year will force firms to stop using those three letters in conversations with clients.
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Jay K. Oberg, a 32-year veteran of the Comerica Bank and a top deputy to CEO Curtis C. Farmer, plans to retire in December 2024.
August 11 -
Bankers say regulatory burden, rising costs and intensifying competition will reignite a drive for scale and spur dealmaking provided interest rates level off and the economic outlook improves.
August 8
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The five-year employment agreement with CEO Bryan Jordan follows a failed acquisition effort by TD Bank. The deal suggests that Jordan is seen as critical as the Memphis, Tennessee-based bank charts an independent course in the coming years.
August 4 -
Kansas Banking Commissioner David Herndon told American Banker that his agency declared Heartland Tri-State Bank insolvent because of a "very sudden" event that crippled the bank financially.
August 4 -
The Minneapolis company is issuing stock to the Japanese banking giant that previously owned MUFG Union Bank in order to repay part of a $3.5 billion obligation. The move will also boost a key capital ratio, which sagged after the deal was completed, but is expected to cut into U.S. Bancorp's earnings per share.
August 3 -
While financial markets wobbled after Fitch Ratings reduced the U.S. government's credit rating, analysts said the action should have little long-term impact, similar to a downgrade by Standard & Poor's in 2011. JPMorgan Chase CEO Jamie Dimon argued that Fitch's action "doesn't really matter that much."
August 2 -
Seibly, a 35-year banking industry veteran, takes over the Jacksonville, Florida, online bank now that private equity investors have purchased it from TIAA.
August 1 -
Big Poppy Bancorp has applied to the Federal Reserve to acquire up to 24.99% of Summit State Bank. Both institutions are headquartered in Santa Rosa. Combining them would create the city's biggest bank.
July 28 -
The Hicksville, New York, company says its deposit base is stable and poised for growth four months after its acquisition of the failed Signature Bank, some of whose depositors fled to larger banks. Private bankers — including new hires from another failed bank, First Republic — are trying to win back lost deposits.
July 27
