Retail & Commercial

A proposed settlement between the Philadelphia-based community bank and an activist investor group that has waged a nearly two-year battle for control also calls for overhauling the board of directors.

Two months after the mysterious failure of the Heartland Tri-State Bank in Elkhart, Kansas, a news article sheds light on its downfall. CEO Shan Hanes was involved in a cryptocurrency hoax involving a $12 million wire payment, according to the Bloomberg Businessweek report.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg said despite earlier proposals for reforming deposit insurance following this spring's bank failures, congressional interest in major reforms has waned and prospects for legislative changes are dim.

Lisa Rickert and Ruth McCord, who manage branches for Nicolet National Bank, share a passion for connecting with their customers and supporting their communities.

Peoples Financial Services has agreed to pay $129 million of stock for FNCB Bancorp. Peoples' CEO Craig Best would lead the combined company for a year after the merger closes, and then Gerard Champi, FNCB's current chief, would take over.

When running a bank branch, there are certain employee behaviors that must be nonnegotiable. But that still leaves plenty of room for improvisation and creativity.

Camino Financial and Fundation, which are combining, serve distinct slices of the small business market. The deal's architects say it will enable the combined firm to provide more financing options to entrepreneurs, and they argue that now is a good time to lean into small business lending.

Bank of America CEO Brian Moynihan said that consumer activity has slowed throughout the year, but should remain strong enough to position the economy for growth later in 2024.

Ally Financial and Workers Credit Union say they've successfully infused marketing campaigns with AR to hype their brands and communicate their corporate values even as skeptics question whether customers are clamoring for the technology.

Credit unions and banks are lending more to merchants based in the Western U.S., reflecting trends reported in the Umpqua Bank 2023 Business Barometer and running against broader economic pessimism.