Gesa Credit Union in Washington agreed to acquire a 103-year-old community bank in Centralia, as it eyes opportunities for additional growth in the Pacific Northwest. In the District of Columbia, a bank group is calling for exit fees on banks selling to tax-exempt credit unions.

Shan Hanes, who led Heartland Tri-State Bank in Kansas until it failed last year, pleaded guilty to one count of embezzlement by a bank officer. He now faces up to 30 years in prison. He is scheduled to be sentenced on Aug. 8.

Effective coaches understand that the same message, delivered at different points in an employee's career, can resonate in new ways as they gain insight and experience.

The retail giant has scrapped its credit card partnership with Capital One, its second public spat in recent years with a partner bank. Analysts say it may be a sign that Walmart wants to launch its own credit card on what it hopes will be a financial super-app.

The Toronto-based company's U.S. banking segment continues to face headwinds from muted loan growth and higher deposit pricing. Net income for the division tumbled by more than 25% last quarter.

The financial services industry has largely recovered from the negative shocks of the 2008 financial crisis. Still, the results from the most recent release of the Edelman Trust Barometer found that banks need to address a significant level of skepticism among consumers.

Gone are the days when Wall Street executives dressed in conspicuously expensive clothing. Now the industry has adopted a more relaxed and casual dress code.

First Federal Bank of Kansas City finalized a plan to reorganize its corporate structure; Regions Bank in Birmingham, Alabama, was one of 10 to win the "President's 'E' Award for Export Service"; Rhode Island-based Citizens Financial Group named Jim Weiss as Florida market president; and more in this week's banking news roundup.

The bank took a big hit on an office property in Washington, D.C., during the first quarter. This month, it filed a shelf registration statement for an offering of up to $150 million that could be used to bolster capital or refinance debt.

Executives from JPMorgan Chase, Bank of America and Wells Fargo are expected to get grilled in Congress this summer over victims of Zelle scams who don't get reimbursed. A Senate panel has spent much of the last year examining fraud on the bank-owned payments network.

Irvine-based CBC Bancorp's $121 million deal for Bay Community Bancorp in Oakland stands out at a time when high rates have put a damper on both the number of deals taking place and the multiples sellers are paying.

West Coast Community Bancorp agreed to acquire 1st Capital Bancorp in an all-stock deal slated to close in the fourth quarter.

Gaps in traditional means of assessing creditworthiness are being filled by new kinds of information, such as cash flow data. The result will be good for both banks and borrowers.

Community banks are in the early days of experimenting with AI and the earlier days of writing policies to govern its usage. It's key to do both at once.

Pima Federal Credit Union in Tucson plans to buy Republic Bank of Arizona in a cash transaction slated to close in the second half of this year. It's the ninth deal in 2024 in which a whole bank would sell itself to a credit union.

Even the conservative Supreme Court could see through the baseless arguments put forward by opponents of the Consumer Financial Protection Bureau, assuring that the agency will continue to fight to protect American consumers.

UMB Financial, Fulton Financial and Provident Financial Services have recently announced capital raises in connection with M&A deals. "They're setting a precedent," one consultant said.

The utility, under financial pressure following its involvement in the 2023 fires that ravaged Maui, reportedly is considering a sale of its profitable American Savings Banking unit. An executive declined to "speculate on any strategic transactions or alternatives."

CEO Kevin Cohee is convinced WiseOne, the AI companion OneUnited Bank rolled out late last year, can help customers make better financial decisions. Cohee also wants to see his passion for personal fiscal improvement play to a wider audience, through development of a nationwide financial literacy curriculum.

The $116 million deal to acquire HMN Financial in Rochester would mark the 26th acquisition of this century for Alerus. The transaction is slated to close in the fourth quarter.