Retail & Commercial

Jack Remondi issued a direct call Wednesday for the agency to drop its lawsuit against the student loan servicer. “You’ve had five years to look for your evidence, you’ve found none,” he said.

As the company boosts originations to subprime and other borrowers, it remains to be seen if the improvements in asset quality will continue. A similar question mark is hanging over many consumer lenders these days.

The bank sees its global reach as an advantage in supporting evolving business customer needs.

The Ohio company said low unemployment is keeping business clients from expanding, while higher asking prices are forcing it to avoid bank acquisitions.

The bank, which would be only the second to call the Motor City home, would hire 500 people there while maintaining most of its workforce in Midland.

In addition to leading the company’s national business banking efforts, Peter Sefzik will also oversee small-business banking. Brian Foley, the chief credit officer for the Texas market, will succeed him as market president.

Prosperity Bancshares in Houston said that its earnings increased 19% from a year earlier as its efficiency ratio rose.

The company is once again positioning itself for growth now that it is no longer considered a systemically important financial institution.

The $26 million acquisition will allow Summit to enter two new counties in its home state.

That improvement and loan growth made up for a lower margin in a more profitable second quarter, but the loan growth relied heavily on the subprime lender's partnership with Fiat Chrysler that could be ending.