Americas

The bank is among a handful of de novos to have its charter approved since 2009.

The company also admitted that certain details in an October press release were inaccurate.

The $1.9 billion deal – the industry's largest announced in 2017 – will create a bank with nearly $20 billion in assets.

The South Carolina company plans to use proceeds for acquisitions and organic growth.

Quarterly profit fell at SunTrust Banks in Atlanta as noninterest expense rose 8.4% and its loan-loss provision increased.

The Connecticut bank said a spike in business lending and residential mortgages gave its fourth-quarter earnings a boost.

Once a relationship built on deceit, U.S. marijuana businesses and banks have begun opening up to one another to smooth the compliance burden of processing payments for the legal cannabis industry.

Fourth-quarter profits at Wintrust Financial in Rosemont, Ill., climbed 54% to $54.6 million from a year earlier, helped largely by acquisitions and increases in mortgage banking and other fee income.

The Western Union Company agreed to pay $586 million and admitted to a lapse in anti-money laundering controls in an agreement with the U.S. Justice Department and other U.S. authorities.

The $143 billion-asset company has agreed to buy the Retirement Corporation of America, an advisory firm based in Fifth Third’s headquarters city that focuses on the needs of retirees.