Texas

Harvey slammed the Houston area this summer, but Prosperity Bancshares' profit dropped only slightly in the third quarter, and it described the financial impact as "manageable."

The Dallas company reported a 40% increase in net income from the same period in 2016.

The company agreed to buy Commercial Bancshares for $59 million in stock.

While social media is helping get younger members in the door, observers say credit unions won't get far without the right mix of products and services for millennials.

The loan product, which allows consumers retroactively to adjust a payment amount, illustrates how community-based institutions are trying to reach technologically savvy consumers.

The Louisiana company also set aside funds to cover efforts to settle litigation tied to its mortgage business.

The merger of Texas Trust and Qualtrust Credit Unions has been completed from a legal standpoint, though full integration and rebranding are not expected until 2018.

Florida and Texas are normally major sources of mergers, but bankers in those states likely will take a break to assess damage from the hurricanes before returning to dealmaking.

Banks could be busy supplying credit to manufacturers, hotels, multifamily developers and other businesses that will be helping residents get their lives back on track after two fierce storms.

The agency has earmarked all funds from a Hurricane Harvey recovery package for direct relief, despite calls to get more bankers involved in the process. It remains to be seen how the agency will handle the cleanup for Hurricane Irma.

First Data is one of many payments companies working to get its customers back up and running in the wake of the severe storms, but it's also a victim — its center in Sugar Land, Texas, suffered flooding, causing the Atlanta-based company to set up operations at a hotel in Houston for 400 staff.

Texas bankers recovering from Hurricane Harvey are reflecting on their experiences, identifying what went right and what they could do better. Their views could prove useful to Florida bankers hurriedly preparing for the nation's next big hurricane.

“You can’t serve the public if your employees are shellshocked,” said one top banker, comments echoed by other institutions dealing with the aftermath of Hurricane Harvey.

The long-term recovery for thousands of Texans whose homes were decimated by Hurricane Harvey rests with a Trump administration government outsider who wants his agency's budget cut by billions of dollars.

The Houston company doesn't expect any material impact on its commercial-and-industrial book, though there is potential risk tied to residential mortgages. Management, meanwhile, has started rolling out programs to help customers recover.

Several banks and industry groups are pledging money to help bankers and their clients recover from the hurricane and its aftermath.

Their immediate effort is to ensure colleagues and clients are safe and that banking services are available to hurricane victims. The next big issue is preparing for the financial hit banks and customers will take from wind and water damage.

With Hurricane Harvey rapidly making its way toward the Texas coast, lenders and servicers have activated business continuity plans to accommodate pending transactions and provide options and support to existing borrowers affected by the storm.

Many financial institutions have activated their emergency centers, closed branches and stocked ATMs in advance of landfall.

The agency's statement comes as Tropical Storm Harvey gets closer to the Texas shore.