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The Federal Reserve is tracking the competitive climate among community banks, including the dearth of new charter activity. Key officials also used opening remarks at the Fed's community banking conference to outline ways they are trying to improve communication with bankers.
September 23 -
Esther George, president of the Kansas City Fed, highlighted the shortcomings of banking regulation, especially as applied to community banks, and said the "pendulum has swung too far" on consumer protection.
September 23 -
QCR Holdings (QCRH) in Moline, Ill., has redeemed more preferred stock it issued to the Treasury Department under the Small Business Lending Fund.
April 1
Two River Bancorp in Tinton Falls, N.J., has received regulatory approval to redeem half of the preferred stock it issued under the Small Business Lending Fund program.
The $775 million-asset company said in a press release Friday that it plans to redeem 6,000 shares, worth $6 million, issued to the Treasury Department in August 2011.
The SBLF program provided Tier 1 capital to banks with less than $10 billion in assets in an effort to encourage small-business lending.
"We continue to deliver on our long-term capital management strategy of exiting SBLF in a deliberate and timely manner," William Moss, the company's president and chief executive, said in the release. "We will repay 50% of the total with no dilution to our current shareholder base and without any detriment to our growth plans."
Two River plans to redeem its remaining SBLF stock before the program's planned dividend increase in 2016.
