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The Securities and Exchange Commission just gave unregistered banks a way to quickly raise capital at a fortuitous time and marketplace lending platforms a way to reclaim their peer-to-peer roots.
March 26 -
A top Democratic lawmaker said Wednesday that the compliance burdens placed on small and medium sized banks outweigh the risks they pose to the financial system.
March 25 -
WASHINGTON The Federal Reserve Board finalized a rule Thursday that could spur small bank deals by expanding the number of bank holding companies that qualify for an exception allowing them to carry more debt.
April 9
Financial Institutions Inc. in Warsaw, N.Y., increased the size of its debt offering by 14% due to high demand.
The $3 billion-asset parent of Five Star Bank said in a press release Friday that it issued $40 million of subordinated notes; its original plan was to issue $35 million.
The debt has a 6% annual yield until April 15, 2025, when it will convert to a floating rate.
Financial Institutions said it will use the funds raised for contributing capital to its bank, organic growth, acquisitions and other general corporate purposes. The offering is set to close on Tuesday.
