Susquehanna Bancshares Inc. in Lititz, Pa., said Monday that it would take an $11.8 million second-quarter charge to restructure its investment portfolio.
The $8.2 billion-asset Susquehanna said it sold $233 million of mortgage-backed securities, or about 16% of its investment portfolio, then reinvested the proceeds at a higher yield, increasing the return from an average of 3.76% to 5.75%.Bonnie McGeer
The Office of the Comptroller of the Currency issued a final rule saying that federal law trumps state mandates on interest in escrow accounts for national banks, wading into an ongoing court battle.
The Mortgage Bankers Association now predicts a Federal Reserve rate hike to arrive in 2027, as housing price growth also slows over the next two years.
The company says its mission-driven culture, family-supporting benefits and emphasis on flexibility are key factors.
An analysis of American Banker's 2026 Best Places to Work in Fintech finds that workers appreciate flexibility, as well as "meaningful" work.
The 33 companies that made it to this year's Best Places to Work in Fintech list are actively preserving remote work options and non-salary benefit packages.
Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
