Retail & Commercial

On top of running a bank’s day-to-day operations, chief operating officers particularly at smaller banks play the additional role of CEO-in-waiting.

Banco do Brasil, the largest bank by assets in South America, wants to make more of a name for itself in the United States. It expects a new online banking platform to help draw mainstream consumers, and says an expansion from South Florida into the Northeast is likely.

In an industry of more and more specialists, the chief operating officer is a jack-of-all-trades. But the title has different meanings for different banks. Some COOs help craft strategy, others just implement strategy. Some are CEOs-in-waiting, others stay in the background. We asked COOs about their role, M&A's effects on job security, and how they interact with CEOs.

In June, SourceMedia Research — an affiliate of American Banker — conducted a survey of 52 chief operating officers and other operations executives on a range of topics, including COOs' top priorities and what they think will be their future role. The data suggests COOs are concerned with regulatory trends and security threats and view themselves as change agents. Many aspire to one day become a CEO. Here are some data snapshots.

The private equity firm GTCR is interested in fintech companies looking to disrupt the status quo, so long as they have proved themselves and are paired with managers who have a long track record of success.

Provident Financial Services in Iselin, N.J., reported relatively flat quarterly results as lower fees offset loan growth.

Carver Bancorp in New York is dealing with a new set of challenges just months after being released from a longstanding enforcement order. The company’s woes highlight the challenges for banks with narrowly constrained business models.

The popular German digital startup Fidor Bank has agreed to be acquired by Groupe BPCE, the second-largest French bank.

Columbia Banking System in Tacoma, Wash., reported higher quarterly profits that reflected increased lending.

CCB, the parent of the $1.3 billion-asset Country Club Bank, recently announced that it had absorbed Capital Corp. in Lenexa, Kan. CCB did not disclose the price.