Retail & Commercial

The $23 million cash transaction boosts Old Second's presence in its home Windy City market, while marking Muncie, Indiana-based First Merchants' exit from Illinois.

The Canadian lender's cushion for potential credit losses nearly doubled in the third quarter, while its U.S. business idled.

The combination, expected to close next year, would create a regional bank with $17 billion of deposits across 10 states.

The Bank of Nova Scotia increased its provisions for potential credit losses in the third quarter and said its KeyCorp stake would provide a hefty return on investment.

A federal judge excoriated banks for inflating data in a challenge to the Consumer Financial Protection Bureau's data collection on small-business loans.

Lower interest rates could bolster loan demand, credit quality and securities portfolios. But they could also curb lending profitability faster than they ease deposit costs, crimping net interest margins and eating into near-term profits.

The planned Altos Bank in Los Altos cleared a big hurdle this week when state regulators approved its application to open a startup bank. Organizers are hoping for a soft opening before year-end.

The third-largest Canadian bank's proposed minority stake in KeyCorp is an unconventional way to generate more U.S. revenue. Analysts say it's a less risky approach than buying an American bank outright.

The stock prices of banks that have large exposure to commercial real estate loans surged after comments from Federal Reserve Chair Jerome Powell. His remarks could be a sign that relief is coming on both sides of those banks' balance sheets.

Most financial institutions are seeking ways to speed up payments, but one neobank is looking to slow them down to protect a segment of the population frequently targeted by scams.