On Dec. 31, 2021. Dollars in thousands.

Five Star Bank, which is based in a rural part of New York state, has embraced digital lending, banking-as-a-service, real-time payments, bitcoin and more. “Those that don’t innovate don’t survive,” says Chief Administrative Officer Sean Willett.

Russia reverberations, a rebranding, a resignation and more in banking news this week.

The misclassification of certain cash flows in 2021 was a “material weakness,” according to a securities filing. Management restated the relevant financial statements and promised to lay out a “plan to remediate” the issue.

Credit unions and banks need to ask themselves if they're finding ways to say "yes" to consumers who too often hear "no" from mainstream institutions. Otherwise, they perpetuate a system that excludes the poor and people of color and drive them toward nonbanks, said Pablo DeFilippi of Inclusiv Network and other experts.

The Louisiana-based Barksdale has agreed to purchase HomeBank of Arkansas. It is the fourth deal involving the sale of a bank to a credit union in less than two weeks.

At the bank’s investor day, CEO Jane Fraser and other top executives outlined where they are investing, how they are reorganizing and what it will all cost.

The $142 million deal would vault the buyer from the 21st-largest bank in Philadelphia to the 12th largest.

Titi Cole will run the megabank’s legacy franchises division, which contains consumer businesses that Citi is looking to sell or wind down in other countries. The exits are part of CEO Jane Fraser’s efforts to reshape the bank.

TriCo Bancshares said regulators will allow it to finalize its $165.6 million acquisition of Valley Republic. The deal was initially expected to close last year.

LendingClub is resisting pressure from stakeholders to jump into cryptocurrency as it completes a bank acquisition and works to introduce more traditional financial products.

The New York bank recently converted 3 million GM Rewards cardholders to its Marcus app, the next phase of its plans to offer more banking services in unexpected places.

Richard Adams Sr. will step down from United Bankshares' top job on April 1, after 47 years. Current President Richard Adams Jr. will take over.

Consumers are expected to be their own chief financial officers, and students should be formally prepared for the job like any professional. Banks can support such education programs and reward those who complete them.

Customers who have access to suitable credit and other offerings and know how to use them appropriately can seize economic opportunities, open businesses and contribute to the collective success of communities, F.N.B. chief Vincent Delie Jr. argues.

Robins Financial Credit Union is acquiring the $430 million-asset Persons Banking Co. The deal, announced Monday, comes less than a week after Georgia’s Own Credit Union in Atlanta said it is buying Vinings Bank in Smyrna.

The New York bank said it called off the acquisition of Amalgamated Bank of Chicago because it has been unable to obtain regulatory approval. But the seller expressed hope that the deal could still move forward.

On Dec. 31, 2021. Dollars in thousands.

On Dec. 31, 2021. Dollars in thousands.