Retail & Commercial

The company is leveraging its bank charter and strong customer acquisition, with app logins up nearly 50% from borrowers.

The Dallas-based regional bank's return on average assets exceeded its goal of 1.1% for the first time, coming in at 1.3% for the third quarter. The bank has been in transformation mode since 2021.

U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.

Farmers National Banc Corp. in Ohio plans to acquire in-state rival Middlefield Banc Corp. in a deal that will deepen the buyer's footprint in Columbus.

An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.

A proposal before Congress to raise the federal deposit insurance cap to $10 million for non-interest-bearing business accounts would help community banks continue recycling deposits into local lending.

The president of the planned Georgia Skyline Bank says he's cautiously optimistic that his group can raise $35 million of startup capital in time for an opening early next year.

The McClean, Virginia-based bank said Tuesday that credit quality remained strong in the third quarter, and that it has approved a plan to buy back $16 billion of common stock. It's temporarily tapping the brakes on loan growth as it digests the Discover acquisition.

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.

Financial services firms have a responsibility to help more people — especially younger generations — navigate an increasingly complex financial landscape with clarity, confidence and optimism.