Special Program Root Tag

Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.

Plaus had planned to leave the bank after March 31. But Merrill head Andy Sieg's sudden departure for Citigroup triggered an executive shuffle.

Banks have been reclassifying their losses to avoid taking steep write-downs that could be helping them stay in business.

Throughout 2022, the California bank shed interest rate swaps that some believe could have prevented its failure.

M&T Bank joins a Massachusetts fintech-focused hub; Republic Bancorp in Louisville, Kentucky, once again expands in the Cincinnati market; ChatGPT suffers a security lapse and more in this week's banking news roundup.

Shares of the firm have plunged 34% in March. The rout has wiped out $47 billion in market value from Schwab.

A case of mistaken identity is sparking a sell-off in Republic First Bancorp Inc., which is down more than 40% this month because investors have it confused with embattled First Republic Bank.

More congressional scrutiny is being directed at the San Francisco Federal Reserve bank and its role in supervising Silicon Valley Bank.

Peapack-Gladstone Financial CEO Doug Kennedy is betting that giving his workforce the same hospitality training hotel employees receive will lead to better customer service and a healthier bottom line.

The quest to make instant settlement ubiquitous in all countries requires scale and connectivity, creating opportunities for intermediaries that can handle the last mile.

In March's roundup of American Banker's favorite stories: How rising interest rates took community banks by surprise, small banks and credit unions react to the collapse of Silicon Valley Bank, ex-Wells Fargo executive Carrie Tolstedt faces potential jail time and more.

The latest figures suggest efforts by policymakers to stem contagion following a string of bank collapses is working, though banks are still borrowing much more than is typical during periods of low stress.

Since 2011, and in ever-growing volume, credit unions have been buying community banks. Some see it as the free market at work while bankers say this is another example of credit unions' unfair advantage.

In a sudden shift, Merrill's leader of the past six years is heading back to rival Citi, where he will be head of global wealth and drive its expansion.

The rules President Joe Biden calls for include minimizing the financial burden that replenishing the Deposit Insurance Fund would impose on community banks.

The regulation — mandated more than a decade ago to combat discrimination — will make lenders provide data on approvals and denials of small-business loan applications, the cost of credit and demographics of borrowers.

A group of Democratic lawmakers led by Sen. Elizabeth Warren, D-Mass., wrote to regulatory agencies urging them to complete capital rules, just as Treasury Secretary Janet Yellen suggested bank deregulation has gone too far.

The Federal Reserve and Treasury Department fined the San Francisco-based bank for allegedly helping a foreign bank skirt sanctions on more than half a billion in transactions between 2010 and 2015.