Colonial's decision to sell its 21 Nevada branches and roughly $440M inloans to an entity tied to a private-equity firm has reignitedspeculation that the company could parcel itself out to multiple buyersinstead of completing a sale to Taylor, Bean & Whitaker MortgageCorp.
But strong g-fees, a positive credit-loss adjustment and stable home prices bolstered results despite declines in mortgage purchases to lows not seen in some time.
The Los Angeles-based company, which focuses on Korean Americans, said the acquisition of Territorial Bancorp will allow it to expand its customer base.
The first bank failure of 2024 will result in the Lancaster, Pennsylvania-based Fulton nearly doubling deposits in Philadelphia, a market it has viewed as strategically important for several years.
The combination of the two regional banks is set to create a $64.5 billion-asset company with a 13-state footprint across parts of the Midwest, South and West.
Banks and other financial market participants have been keyed into the central bank's communications around monetary policy expectations. But in an unpredictable economy, the guidance doesn't always hit the mark.
Michigan State University Federal Credit Union is working with the relationship-based lending app Zirtue to offer members a tool for outlining lending agreements and repayment plans.
