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Steep trade barriers that were set to go into effect on July 9 have once again been put on pause, giving banks a welcome reprieve, but adding still more pressure and uncertainty on the Federal Reserve and the broader economy.
July 9
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Business First Bancshares CEO Jude Melville and Progressive Bancorp head George Cummings are both second-generation bank CEOs — common ground that helped propel an $83 million merger deal.
July 8
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The bank worked with Atomic to embed the digital payroll deposit manager into its mobile banking app.
July 8
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The parent company of Wayne Bank said it would buy PB Bankshares for $54.9 million in cash and stock.
July 8
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The move their regulator Bill Pulte announced introduces competition for one metric but charges from three credit bureaus will remain in place.
July 8
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The voluminous resolution plans banks are required to submit to regulators are often set aside in the case of actual bank failures. There are far more efficient ways to ensure orderly bank resolutions.
July 8
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Baton Rouge-based Business First Bancshares would pad its margin as Louisiana's largest state-chartered bank with an all-stock deal for Progressive Bancorp.
July 7
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The show business-themed restaurant, which benefited from a federal loan near the start of the pandemic, says it now owes millions thanks to the Miami-based bank's "fraud, negligence, and misrepresentations." A BankUnited spokesperson declined to comment.
July 7
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Rocket Mortgage's acquisition of Redfin has been mischaracterized as harming competition in the mortgage lending space. The truth is that it could be a major boon for mortgage borrowers.
July 3
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3
