Retail & Commercial

Financial institutions in several Southeastern states had braced for impact of the Category 3 hurricane. Bank and credit union executives in Florida and Georgia say their facilities generally weathered the storm but that some communities they serve face substantial recovery efforts.

In August's roundup of American Banker favorites: The true cause of Heartland Tri-State Bank's failure, increased industrywide frugality among banks, two prominent credit union trade groups announce plans to combine and more.

The bank attributed the surge to impairments in the U.S. office loan portfolio and appeared to signal that higher provisions from commercial real estate may persist.

The card network has agreed to pay USAA licensing fees for the use of mobile deposit capture technology. USAA says it plans to keep trying to get other banks to do the same.

The storm is slamming housing markets already beset by some of the nation's highest property insurance premiums.

Both purchases and refinance volumes climbed higher, as interest rates flattened following earlier volatility, according to the Mortgage Bankers Association.

Innovations Financial Credit Union is purchasing First National Bank Northwest Florida, taking the place of Harvesters Credit Union, which terminated its 2022 deal to acquire the bank.

Many of the fees that the agency derides as unnecessary are funds owed to medical practices, homebuilders and educational institutions.

Uplinq, which helps lenders make credit decisions for small business owners using alternative data, already has large global banks among its clientele.

The Department of Justice cited American Bank of Oklahoma's lending record, as well as racially inflammatory emails it claims bank employees forwarded, in support of its redlining claims.