Retail & Commercial

New Jersey-based ConnectOne Bancorp received FDIC approval for its merger with First of Long Island Corp; lending-services fintech Oportun makes changes to its board of directors; Associated Banc-Corp's Steven Zandpour will succeed David Stein as head of consumer and business banking; and more in this week's banking news roundup.

While Vista Bank is focusing on organic growth in Florida, it's positioning itself as a Texas buyer.

Ending the separation of banking and commerce would open the door to dangerous concentrations of power and influence, and would threaten financial and economic stability as well as access to credit for consumers and Main Street businesses.

Incentive pay for investment bankers at major firms is expected to fall this year by 13% from 2021 levels, according to a consulting firm's report. But stock traders may reap the rewards of market volatility.

Credit risk transfers, which gained traction in 2022 and 2023 as banks sought to manage their capital levels, may now become a solution for lenders looking to reduce their exposure to commercial real estate loans.

Average Americans are souring on their own financial health, according to a New York Fed survey. That includes their ability to pay off their debts.

The Dallas-based company's broker-dealer arm, Texas Capital Securities, has also made several recent hires as it continues to expand its capabilities.

Customers expect fast loan approvals, CEO Brad Calhoun says, so the credit union now lets artificial intelligence decide who will get credit cards, auto loans and personal loans. 

The neobank reported a 47% increase in revenue in the first three months of the year.