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The $142 million deal would vault the buyer from the 21st-largest bank in Philadelphia to the 12th largest.
March 2
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Most loans to mortuaries are backed by the Small Business Administration, so they are capped at $5 million. The Delaware lender is teaming with an industry insurer to offer much larger loans to funeral home owners seeking to acquire rivals or refinance operations.
March 2
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Titi Cole will run the megabank’s legacy franchises division, which contains consumer businesses that Citi is looking to sell or wind down in other countries. The exits are part of CEO Jane Fraser’s efforts to reshape the bank.
March 2
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TriCo Bancshares said regulators will allow it to finalize its $165.6 million acquisition of Valley Republic. The deal was initially expected to close last year.
March 2 -
LendingClub is resisting pressure from stakeholders to jump into cryptocurrency as it completes a bank acquisition and works to introduce more traditional financial products.
March 2
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Alternative lenders should be held to the same standards as banks under the Community Reinvestment Act and other laws, M&T CEO René Jones argued in a letter to shareholders.
March 1
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Lawmakers in New Mexico recently approved a stringent rate limit, and similar efforts are underway in Rhode Island and Michigan. The state-level actions are among the "numerous headwinds" facing high-cost lenders, one analyst said.
March 1
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The New York bank recently converted 3 million GM Rewards cardholders to its Marcus app, the next phase of its plans to offer more banking services in unexpected places.
March 1
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Richard Adams Sr. will step down from United Bankshares' top job on April 1, after 47 years. Current President Richard Adams Jr. will take over.
March 1
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The industry reported a jump in trading revenue and investment banking fee income, which helped offset rising expenses, according to the Federal Deposit Insurance Corp.'s latest Quarterly Banking Profile.
March 1
