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A series of deals over the summer suggests growing interest by private equity investors in acquiring community banks. Five such deals have been announced this summer alone.
August 22 -
Consumer loan balances fell in July for the first time since 2020 as banks have tightened lending standards in response to rising rates and jettisoned assets to bolster liquidity and capital levels.
August 22 -
News of the delisting, prompted by ongoing delays related to filing its 2022 annual report, triggered a selloff of the Philadelphia-based company's battered stock.
August 22 -
Credit unions held more than 66% of all assets in the community development financial institution ecosystem, according to research from the Federal Reserve Bank of New York.
August 22 -
The plan calls for the formation of Orca Bank in Bellingham, Washington. It would become a subsidiary of Savi, whose CEO would assume the same role at the bank.
August 22 -
Banks are holding their fintech partners to a higher compliance standard as regulatory scrutiny of banking-as-a-service increases.
August 22 -
Many depositors have "shifted their funds into higher-interest-bearing accounts, increasing banks' funding costs," S&P wrote in a note summarizing the moves.
August 21 -
The job cuts come amid caution about the industry's growth potential in the second half of the year. Some 45,000 positions have been lost in banking and related industries over the last two-plus years.
August 21 -
The New York megabank is considering splitting its institutional clients group division into three parts following the upcoming departure of top executive Paco Ybarra, the Financial Times reported. The heads of the three segments would report directly to CEO Jane Fraser.
August 21 -
Two-thirds of business executives expect to pursue merger-and-acquisition deals over the next 12 months, according to a new EY survey. That's good news for larger banks with M&A advisory operations.
August 21