Retail & Commercial

Efforts to bring back a private-label residential mortgage-backed securities market have not been quick or wholly successful at this point. But they are persistent, which is why they will ultimately succeed.

PHH Corp. Monday morning named former General Electric energy executive David E. Tucker president of its mortgage division.

Union Bankshares of Morrisville, Vt., has named its president, David S. Silverman, as chief executive after Kenneth D. Gibbons stepped down from the position.

FNB United (FNBN) in Asheboro, N.C., is planning to sell up to two million shares of its common stock in a move that could net it close to $60 million of fresh capital.

The flagging bank M&A market needs a revival. This week bank executives and investors are sharing strategies to bring back the deals.

WASHINGTON – Members of the credit union-start-up REALTORS FCU, billed as the nation's first virtual credit union, voted over the weekend during the annual convention of its sponsor, the National Association of REALTORS, to merge the $75 million credit union into nearby giant Northwest FCU.

More than 100 former HSBC Bank branches across upstate New York and Connecticut are now operating as branches of First Niagara Bank.

If online and mobile channels are so crucially important, why don't credit unions spend the money to reflect that?

Online account opening has a strong future, but it's not there yet-and it's the primary reason the physical branch will have a robust role well into the near future, according to Scott Hodgins, research director for Cornerstone Advisors.

In a time most financial institutions are hesitant to open so much as one new branch, $130-million Community First Credit Union has found success opening three "smart offices" in the heart of California's wine country.