Retail & Commercial

Kennebec Savings Bank will have $1.3 billion in assets after it absorbs Kennebec Federal Savings and Loan Association of Waterville.

Loan forbearances are wreaking havoc with firms that normally clean up during recessions; the Fed’s latest rescue plan is off to a rocky start as few banks show interest in making the loans.

Kyle Hauptman, who will be nominated to fill the seat held by Mark McWatters, is a staunch opponent of the Dodd-Frank Act. That could mean more policy clashes on the board if he is confirmed by the Senate.

The Delaware company said it received $22 million in net proceeds after selling 360,000 class B shares.

Eastern Bank in Boston could raise as much as $1.7 billion to spend on acquisitions and technology investments that it says will be necessary to respond to customers' increasing preference for digital tools.

Splitit has boosted its merchant access in the crowded install payment market through a series of deals with large payment companies, the latest being a five-year agreement with Mastercard.

A decision that expands the low-income definition to all active-duty military personnel will only enable large credit unions to push out smaller competitors, removing choice for people in the military.

Delmarva Bancshares, which was on the brink of failure during the financial crisis, will be sold to BV Financial for $54 million.

Sen. Deb Fischer, R-Neb., has introduced a bill that would convert the bureau's leadership to a five-person bipartisan commission. Similar legislation was introduced in the House in March.

A record amount of funds have flowed into banks since the coronavirus hit, but a low-rate environment and tepid loan demand are complicating efforts to put that money to work.