Retail & Commercial

The expanded credit access in its automated mortgage decisioning goes into effect in mid September.

It may seem odd that Citigroup has created an online lending platform that matches small businesses with minority-run and other banks for no financial benefit. Yet company executives and observers say it makes sense.

Small increases in commercial real estate loan volumes, particularly at midsize banks, may be indicators that the sector has weathered the worst of the pandemic. Construction loan originations, which tend to fall sharply during a recession, are leading the way.

Despite clear evidence to the contrary, the mortgage insurer continues to insist that credit unions have the same risk profile as nonbank lenders. It’s now threatening to exclude nearly a quarter of credit unions from being qualified issuers of the securities it backs.

The $119 million-asset Ergo Bank in Wisconsin, which is working with the fintech Neocova, says artificial intelligence and modern data management are attainable for even the smallest financial institutions — and essential to competing with larger banks for consumers.

Abbott Cooper, the head of Driver Management, says Codorus Valley Bancorp is not as profitable as its peers. Cooper, who has successfully forced the sale of at least two other banks, has indicated he's ready to launch a proxy fight.

The combination of American Express and its fintech subsidiary Kabbage is starting to bear fruit at an opportune time, as credit card companies increasingly expand their range of products to boost revenue.

The Arkansas bank has hired an 11-member team to develop its new operation. Much of the team joins from TCF Financial, which was sold to Huntington Bancshares in June.

Ann Arbor Bancorp had agreed to buy FNBH in February 2020 but backed off four months later amid economic uncertainty. The two sides have reunited, though the price tag rose.

The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.