Retail & Commercial

The Tennessee company said merger costs tied to its Iberiabank acquisition are up $40 million from previous estimates. However, savings from additional branch closings and unexpected revenue gains should soften the blow.

First Women's Bank received approval from the Federal Deposit Insurance Corp. this week and is set to open its doors in the fall. It is the first new bank to be chartered in Illinois since 2010.

The agency’s new chief said eliminating the “adverse market fee” — in place since December — will make it easier for families to refinance while mortgage rates are still low.

Blend Labs, a lending platform for financial companies, raised $360 million in an initial public offering price at the top of a marketed range.

A strong showing by the North Carolina bank’s insurance arm helped to overcome lower interest rates and sluggish lending in the second quarter.

United Community Banks in South Carolina and Blue Ridge Bancshares in Virginia have each struck agreements to buy or merge with banks in major metropolitan markets, where they will aim to siphon business from larger rivals.

Native American reservations have some of the country's highest concentrations of unbanked households. But tribes are finding ways to get their members access to capital — with or without banks.

Bank of America expects interest income to rise as stronger borrowing outweighs the impact of low rates. The upbeat forecast is in contrast with remarks from JPMorgan Chase executives.

The company fell short of net interest income projections as loans and leases in the consumer banking unit dropped 12% from a year earlier. However, loan balances grew from the first quarter — the first sequential increase in a year.

While customers of the nation’s largest bank are spending more, an unusually small percentage of their purchases are becoming debt. Executives warn that the bank’s predicament could persist for the rest of the year.