Retail & Commercial

The Federal Reserve flagged multiple "deficiencies" at Du Quoin State Bank in an order that bars the Illinois depository from paying dividends without its regulators' approval. The central bank has identified interest rate risk as a key issue at a time when rising rates have contributed to three bank failures.

Liberty Bank, an $11.6 million-asset lender in Salt Lake City, is the first FDIC-supervised bank in six years to be hit with the lowest Community Reinvestment Act rating possible twice in a row. Regulators identified an unspecified "illegal credit practice" during their review of the bank's performance.

Merger arbitrage traders were expecting hiccups in Toronto-Dominion Bank's proposed takeover of First Horizon, but they were unprepared for its cancellation.

A potential pause in the cycle by the Federal Open Market Committee is welcomed by housing industry observers, but inflation and inventory hinder activity.

The companies cited an inability to secure regulatory approvals after postponing multiple times a closing that had been originally expected last fall.

On one level, the failed bank's narrative mirrors the interest rate misplay and depositor panic at Bay Area neighbor Silicon Valley Bank. But it's also a deeply personal story about Herbert, who founded First Republic in the 1980s, championed its aggressive growth and failed in a last-ditch attempt to engineer a private-sector rescue.

Ninety-eight percent of owners reported that they had not changed their business's primary financial institution in the last month, according to a National Federation of Independent Business survey out Wednesday.

A noted futurist argues that banks that rely on traditional methods of attracting and growing deposits are setting themselves up for failure in an increasingly online world.

Meow and Vesto are two firms that help companies invest idle funds in safe instruments such as Treasury bills.

Industry leaders hoped that the emergency sale of First Republic Bank would quell investors' fears, but many banks saw big stock price declines on Tuesday. The instability could put pressure on lawmakers and policymakers to take more decisive action.