Banking

Asheville, North Carolina-based HomeTrust Bancshares is pulling back from the region, selling its two Knoxville branches for an undisclosed sum. Apex will assume the branches' deposits, valued at an estimated $42 million.

The Michigan-based institution lowered overdraft and nonsufficient fund fees to 99 cents amid a torrent of regulatory rulemaking and action related to overdraft.

Financial services providers in the region say they're ready to do their part rebuilding Southern California after a series of devastating fires. For many regional and community banks, initial fire-damage surveys identified limited impact.

The Raleigh, North Carolina-based company reported a double-digit increase in net income for the fourth quarter and continues to see upside in its Silicon Valley Bank unit.

The acquisition adds mortgage warehouse lending to Minnesota's Stearns Bank, the latest to offer the service during a multiyear period that has seen several new entrants and exits.

The Green Bay, Wisconsin bank lost $164 million after selling $2 billion of loans and securities for a loss. Asset quality remains strong while the balance-sheet restructuring tees Associated up for a strong rebound this year, executives say.

Christopher Mufarrige is named acting director of the FTC's Bureau of Consumer Protection; TD Bank promotes Andrew Stewart, Nadir Johnes and Jo Jagadish; PayPal's John Kim is leaving the company; and more in this week's banking news roundup.

The Dallas-based bank's fourth-quarter earnings beat analysts' forecasts. Texas Capital raised its estimate for 2025 adjusted fee income to $270 million.

Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.

The case against Yellowstone Capital, which state officials alleged deceived small-business borrowers, has brought attention to the industry.

The Bethesda, Maryland, company projects increases in loans and deposits as its C&I lending strategy gears up. Criticized and past-due loans appear to be declining even with a jump in nonperforming assets.

The Virginia-based bank said the Federal Reserve signed off on its acquisition of Sandy Spring Bancorp in Maryland. The transaction was the third-largest bank deal announced in 2024. It could be finalized as soon as April.

The Consumer Financial Protection Bureau found that auto lenders' use of reposession agents spiked to nearly 70% in 2022, up from 31% in 2018, resulting in higher costs for consumers.

The era of unchecked AI enthusiasm is giving way to a more measured and deliberate approach. Organizations are beginning to see AI not as a panacea but as a powerful, albeit complex, tool that requires thoughtful implementation.

The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."

Mercantile Bank Corp. in Grand Rapids achieved a 20% increase in deposits in 2024, an amount that was ample enough to fund robust loan growth and scale back reliance on costlier wholesale funding.

The New York Department of Financial Services has proposed several changes to overdraft fees including banning banks from charging more than three overdraft or nonsufficient funds fees per consumer per day.

The Dallas-based company expects average loan growth to be flat to up 1% from 2024, driven by the ongoing payoffs of commercial real estate loans, executives said.

Frontwave Credit Union said it would acquire Community Valley Bank in a deal that would expand its footprint in San Diego and nearby counties. It comes on the heels of a record year for CU-bank combinations.

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."