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How can the requirements of T+1 help your organization implement a more efficient trade settlement life cycle and make the necessary upgrades for success?
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The combined entity would operate under the Genisys name and hold roughly $4 billion of assets.
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The $50 million subordinated debt issuance is large for a credit union and likely the first of its kind to receive an investment-grade rating. It comes days before a National Credit Union Administration rule will take effect to enable a wider range of credit unions to raise capital through debt offerings.
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The credit union is looking for its next leader after longtime CEO Bill Lawton announced he will retire this summer.
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The lender will start by cross-selling Digit's products, then gradually consolidate the two companies' platforms. Meanwhile, Oportun is working to put questions about its collections practices behind it.
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Analysts expect loan growth and higher interest rates to drive up equity prices next year, even in the face of the omicron variant and other risks.
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Average per-loan charges last year were little changed despite the addition of a new temporary fee for refinancing. Those for loan-to-value ratios above 80%, home-purchase financing and adjustable-rate mortgages only rose slightly.
