Retail & Commercial

The traditional way of doing business in the branch network may be dead, but bank branches themselves will survive in some form, says Bank of the West’s Andy Harmening, a senior executive vice president and regional banking group head. Bank of the West has been able to open de novo branches without hiring any additional staff, thanks to advanced technology, to meet customer demand for in-store mortgages, small-business loans and investment advice. Harmening spoke to American Banker at the annual Best Practices in Retail Banking Symposium.

MutualFirst Financial (MFSF) in Muncie, Ind., has reduced its involvement in the Treasury Department's small-business lending fund.

Heritage Financial in Olympia, Wash., plans to merge its two banks.

First Niagara Financial Group in Buffalo, N.Y., has hired a JPMorgan Chase executive to lead its new business unit for New York, New Jersey and Connecticut.

Part of the idea is to generate buzz. But market research is also driving the pay-what-you-want strategy, chief executive officer Steve Streit says in an interview.

The U.S. government did not wait too long to charge UBS and other mortgage underwriters with misleading investors in the run-up to the mortgage meltdown, a U.S. appeals court ruled Friday.

Executives at these banks will be braced for interrogation by investors, analysts and community activists this spring, when the seasons for annual meetings and conference calls on first-quarter results collide.

San Francisco, Calif.-based startup Balanced says it is gaining traction with online marketplaces, the eBay-like venues where small merchants gather to sell products and services online.

JPMorgan Chase (JPM) is rallying major holders of its stock to let Jamie Dimon keep his board chairmanship, the Wall Street Journal reported Friday.

WASHINGTON — State regulators in Arizona closed the $45 million-asset Gold Canyon Bank late Friday, the fifth bank failure this year.