Banking

The company agreed to buy Steuben Trust for $107 million.

The Columbus, Ga., company had been counting on increased volume to offset a squeeze in net interest margins.

The $32 million merger will create a bank with nearly $1 billion in assets.

Ellen Alemany said that CIT's deal for Mutual of Omaha Bank will immediately lower the bank's deposit funding by 20 basis points. She also reiterated that the acquisition would make CIT more attractive to potential buyers.

U.S. Bancorp is eliminating thousands of branch workers as it adjusts to changing customer preferences, according to a person briefed on the decision.

A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, the consultancy said in its annual review of the industry released this week.

The deal, which is expected to close in mid-2020, would create a company with nearly $18 billion of assets and more than $14 billion of deposits.

The new CEO is the first outsider to head the scandal-ridden bank in decades; Facebook CEO faces the House Financial Services Committee on Wednesday to discuss Libra.

HTC's blockchain phone; South Korea's digital ID project; Kik still kicking; and other information you need to start your day, from PaymentsSource and around the web.

An analysis of industry data shows CUs are not the leader in that space they have long claimed to be. Here's why that could come back to bite institutions later on.

Complaints that banks, credit unions and nonbanks compete on an uneven playing field should be heard, just as community banks must take seriously the threats from high-tech rivals, says Julie Stackhouse, a retiring supervision official at the St. Louis Fed.

Declining interest rates took a toll on its profit margin, but the Salt Lake City company still beat earnings expectations in the third quarter.

The chairman acknowledged the timetable is "ambitious."

The credit card lender responded to the closing of Toys R Us stores last year by issuing Synchrony-branded cards to the retailer's customers. Now it's testing a general-purpose card with a wider array of clients.

The move follows similar offers from other major brokerages in the last two weeks, as the wealth management industry races to woo clients with the lowest-priced products possible.

At TCF National Bank in Detroit and First National Bank of Omaha, early results from artificial intelligence pilot programs are strong.

The group's Wake Up initiative will include legislative and regulatory proposals, along with added resources to help members push for a level playing field.

Fisher Investments is out more than $1 billion following Ken Fisher’s controversial remarks at a conference. Where do men pull ahead of women in promotions? Right from the start. Plus, a girls’ high school soccer team makes national news.

The National Credit Union Administration board is expected to tackle a rule on nonmember shares this week while the House Financial Services Committee will examine Facebook's effect on financial services.

On Jun. 30, 2019. Dollars in thousands.