Retail & Commercial

Great service is important, but in the changing financial services landscape, credit unions aren’t likely to get top-of-wallet status from members without a digital payments strategy.

Strong gains in interest and fee income offset higher expenses and chargeoffs at the Kansas City, Mo., company.

The Salt Lake City company also benefited from increases in investment securities and several large loan recoveries during the quarter.

The New York company, which is preparing to buy Astoria Financial, reported year-over-year increases in commercial-and-industrial and commercial real estate loans.

Union Bankshares in Virginia lost several key lending officers after it bought StellarOne. Management as a result has made changes to minimize employee flight from its latest M&A target, Xenith Bankshares.

MPOWER Financing announced a deal Tuesday with Bank of Lake Mills in Wisconsin that will enable the Washington, D.C.-based company to lend to students in all 50 states.

The new Citigold program for affluent customers is more than a product — it is the centerpiece of Citigroup's vision for the future, which will also rely on branch closures and sophisticated apps.

Social Finance’s application for an industrial loan charter has not only drawn opposition from a coalition of incumbent banks and community activists, it also serves as a microcosm of several perennial debates in financial services policy.

Just as pre-crisis success was illusory, so too might be expectations that banks could ever regain that type of profit growth again.

A series of balance sheet moves and a focus on deposit gathering and business lending led to a $157 million profit in the second quarter.