The Office of Thrift Supervision closed Northfork, WV-based Ameribank, Inc. on September 19. Pioneer Community Bank in Iaeger, WV and The Citizens Savings Bank in Martins Ferry, OH took over all of Ameribank’s deposits and some of its assets under a purchase and assumption agreement with the Federal Deposit Insurance Corp. Pioneer reopened the failed bank’s five branches in West Virginia on September 22; Citizens reopened Ameribank’s three Ohio branches on September 20. At the end of the second quarter Ameribank had assets of $115 million and deposits of $105 million. The failure reduces the Deposit Insurance Fund by $42 million.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
April 19 -
New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
April 19 -
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19 -
The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
April 19 -
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
April 19 -
The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
April 19