Americas

California lawmakers have voted to authorize the establishment of state-chartered banks for the limited purpose of serving the marijuana industry.

Fulton Financial, Univest Corp. of Pennsylvania and Franklin Financial Services disclosed a total of $75 million in exposure to the commercial relationship.

Two major Canadian banks, Bank of Montreal and Simplii Financial, have become victims of hacks that affected some 50,000 and 40,000 customers respectively. Neither bank decided to pay the ransom by the hackers' May 28 deadline.

As other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio.

The Hudson, N.Y.-based credit union hopes a community charter will better enable it to serve the high population of unbanked consumers in the region.

A group in North Carolina has finally gone public with its brand, and three other de novos have already been rebranded.

Blue Gate Bank, which opened in January 2017, is being sold to Big Poppy Holdings.

Stock Yards Bancorp in Louisville, Ky., has named James Hillebrand as its next CEO when David Heintzman retires later this year.

Seneca-Cayuga Bancorp wants a limited-use charter to maneuver around a New York law that bars mutuals from working with municipalities.

The company will also acquire three branches in Worcester County, Mass., when it buys the parent of Milford National Bank and Trust.