Retail & Commercial

The relationship between traditional financial institutions and startups is a recurring theme in BankThink's series, "The Future Model of Banking." While young companies are nimbler and more innovative, banks have the advantages of regulatory protections and incumbency. So while the disruptive newcomers could make banks obsolete, these entrepreneurs may be able to accomplish more by working with banks than they might on their own.

FirstMerit (FMER) in Akron, Ohio, reported higher second-quarter profit after completing its acquisition of Citizens Republic Bancorp.

Our model must change to reduce embedded friction, whether in the form of fees or complicated processes. We must keep up with the simplicity, usability and transparency customers now demand.

In a case against a payday lending operation, a judge has ruled that American Indian tribes are subject to the FTC Act.

Synovus Financial (SNV) in Columbus, Ga., will raise roughly $125 million through a preferred stock offering.

Improved credit quality pushed up quarterly profit at TCF Financial Corp. in Wayzata, Minn., despite declines in interest and fee revenue.

Shopkick now allows consumers to make purchases directly from its mobile app, which rewards consumers for visiting its merchant clients in-person.

Regions Financial reported lower second-quarter earnings after the Birmingham, Ala., company restructured its debt and redeemed certain securities.

PacWest has agreed to buy CapitalSource for $2.3 billion, a transaction that would fulfill CapitalSource's longtime goal of becoming a full-fledged bank. It is the year's biggest bank deal.

Quarterly profit at BancorpSouth (BXS) in Tupelo, Miss., were nearly unchanged from a year earlier after the company struggled to boost revenue from its balance sheet.