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Lincoln Savings Bank has tapped Sean Willett, chief administrative officer at Financial Institutions, as its next leader after a six-month search.

The changes include elevating several recently hired executives while eliminating nearly two dozen jobs and trimming annual operating expenses by $6 million.

The acquisition would deepen Orrstown's presence in its home state and Maryland. In recent years, Codorus Valley Bancorp had faced pressure from an activist investor to consider selling.

The 130-year-old Warsaw Federal Savings & Loan achieved a minority status after retooling its board this summer. Its CEO, who is also new to the job, has no plans to slow the pace of change at the depositor-owned bank.

The Canadian bank reported a 70% decline in profits at its U.S. commercial banking and wealth management unit in the most recent quarter and boosted reserves amid distress in the commercial real estate market.

The whistleblower who brought the case, Minnesota-based municipal advisor Johan Rosenberg, will receive $14.4 million under the deal.

A selloff of the French company's shares sparked similar issues at other publicly traded payments firms in Europe. The question is whether the underlying issues — inflation and fears of recession — are severe enough to drag down American companies as well.

Ripple, Coinbase and Circle all received licenses to operate under the nation's stablecoin regulations, which offer more clarity than American rules do.

The goal is to reflect the increasing threat to financial stability that regulators now see from ESG factors such as climate change and inequality.

The company now has 35 million users worldwide and launched new features this summer that include automated investing and expanded account access for non-citizens living in the U.S. But the features come amid controversies at the fintech.

It's a challenge Japan's largest lender must overcome as it focuses on growing its corporate banking presence in the US, said Fumitaka Nakahama, the firm's head of global corporate and investment banking. 

The Attorney General's office found the firm complies with a 2021 state law banning contracts with companies that "discriminate" against the firearm industry.

The state treasurer's revisions, which shrank the list to six financial firms from 13, includes Bank of America, JP Morgan Chase and Wells Fargo.

Dan Sheehan, former CEO at Professional Bank in Coral Gables, said he's "putting the band back together" to spearhead his new, Texas-based employer's expansion plans in the Sunshine State.

UBS Group AG decided to end an agreement with the Swiss government to cover losses it could incur from the rescue of Credit Suisse, a sign that the mammoth integration is on track and the stricken lender's assets might be less troublesome than initially feared.

Alison Rose stepped down after the British government, the UK lender's largest shareholder, signaled she had lost its confidence after a political dustup.

Cincinnati-based Fifth Third Securities is the seventh firm charged by the Commission for failing to comply with the appropriate disclosures in connection with the limited offering exemption.

The Montreal-based bank reportedly hired JPMorgan Chase to consider its options.

Canada's banking regulator is proposing to make it more costly for lenders to accommodate mortgage borrowers who stretch out their loans in an effort to limit housing-market risks in the financial system.

"I got cut," he told The Bond Buyer. "I'm looking for a new job now."