Americas

The company has reapplied to buy Civic Bank more than a year after a regulatory snag forced it to put the deal on ice.

Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable.

SDCCU’s member base increases 10.4 percent in one year, total assets up to $8.2 billion.

Outsiders gained access to customer information at Southern National Bancorp of Virginia using a malicious email. Other financial institutions, meanwhile, are implementing policies in hopes of avoiding the same fate.

Volunteers, staffs, participants and their families are now able to bank with the credit union as a result of a partnership that grew into a business opportunity for NWCCU.

The disagreement is tied to Walnut Street, an entity formed in 2014 to move certain commercial loans out of the bank. Separately, the company is facing a civil money penalty from the FDIC tied to issues with a third-party payment processor.

Letters from CUNA and NAFCU say credit unions are facing significant litigation threat from frivolous suits.

Most of Sterling Bancorp's operations are in San Francisco and Los Angeles. The company plans to use some of the $93 million it will raise to expand in New York and Seattle.

The credit union's board has appointed CFO Arlene Bernard to the position of interim CEO while a nationwide search for McFadden's successor is underway.

Pat Hickman, CEO of Happy State Bank, wants his institution to remain viable in the face of stifling regulation. As for selling? That'll happen over his dead body, he says.