Banking

The 15 largest banks had an average NCO ratio of 0.66% in the first quarter.

The Florida bank plans to buy Villages Bancorp for $710.8 million, marking its second in-state acquisition of 2025.

Maryland passes legislation to oversee the earned wage access industry; Truist Financial adds ex-Morgan Stanley Finance Chief Jonathan Pruzan to its board; The Citizens Bank agrees to buy a First Capital Bank branch in North Carolina; and more in this week's banking news roundup.

The transaction comes as the megabank is determined to simplify its operating model and shed units that have slower growth prospects or aren't core to its business.

The request for information was issued as part of an executive order aimed at eliminating paper checks as a form of federal payment in most cases, which the administration says aims to curb fraud, modernize disbursements.

As banking customers' expectations for digital experiences rise and fintech competition grows, the cloud has become essential to staying relevant.

Three current and former employees of the New York City-based bank allege that executives made racist comments, misused corporate money and retaliated against protected complaints.

Princeton Bancorp, which has $2.3 billion of assets, reported a sizable impairment charge tied to participation loans on a pair of office properties.

The top five credit unions had more than $234 billion in loans and leases as of the end of Q4 2024.