Retail & Commercial

Former Citigroup executive Gordon Baird plans to launch an application at Independence Bancshares that ties together mobile banking and real-time processing – a technology that some industry experts say could revolutionize banking.

A breakdown of M&A announcements in the financial services industry for the week ended Oct. 12

First Republic Bank (FRC) in San Francisco reported a 9% rise in quarterly profit on increased lending and continuing improvement in its wealth management income.

The Federal Reserve Board has hit three Southern banks — Highlands Community Bank and New Peoples Bank in Virginia, and North Georgia Community Financial Partners — with enforcement actions.

Toronto-Dominion Bank is thinking of making a play for Royal Bank of Scotland’s Citizens Financial Group, according to a report published Sunday.

Wintrust Financial in Rosemont, Ill., recorded higher quarterly profits on increased net interest income and benefits from buying Diamond Bancorp in Schaumburg, Ill.

Monitoring fraud and deception is an immense undertaking for third-party payment processors and banks. Trying to make them into first responders to various social pathologies is a step too far.

Commerce Bancshares (CBSH) in Kansas City, Mo., beat quarterly earnings estimates as its asset quality and fee income improved.

Citigroup Inc., the third-biggest U.S. bank, reported a $3.23 billion profit that missed analysts' estimates as bond trading slumped 26 percent and U.S. mortgage revenue declined.

Capitol Bancorp said late Monday that it will sell its four remaining banks to Talmer Bancorp in Troy, Mich.