Banking

The North Carolina company agreed to pay $38 million in cash for First South Bancorp.

Shareholder approval, usually a formality, is far from guaranteed when an acquirer's share price is sliding.

Affirm, which for six years has plied its trade as a point-of-sale lender, wants to move deeper into banking by offering a high-rate savings account.

Nicolas Kopp, head of N26 in this country, explains how the company plans to spend a chunk of the proceeds on its expansion here and add to the intensifying competition among fintechs.

Silver River Community Bank is the fifth de novo in Florida to apply with the FDIC in the last three years.

The subprime online lender said Thursday that it will spin off its credit card business into a new entity, Mission Lane. It also named a new CEO to replace its founder, Sasha Orloff.

Associated Banc-Corp in Green Bay, Wis., said Wednesday that it will close 17 branches as part of a previously announced deal to buy 32 branches from Huntington Bancshares.

Global Payout is providing software to the makers of point of sale hardware for the cannabis industry, integrating payment card processing with other business services common for dispensaries.

Its data-driven financial management services for workers who live paycheck to paycheck — and a contract with Walmart — have attracted executives from Facebook, Slack and elsewhere as well as a major investment from the head of Box.

Last year Corporate Central returned more than $725,000 to its member credit unions, bringing the three-year total to $1.8 million.

Housing and auto sales are just the first sectors to feel pain from rising rates; BlackRock may have identified its next CEO.

President Trump has threatened that the closure may go on for a prolonged period. This could lead to higher loan delinquencies at credit unions that serve federal workers.

The information you need to start your day, from PaymentsSource and around the Web. Today: Walmart tries driverless delivery; A new project to speed electric car charging; India appoints a digital pay panel; Central banks go slow on digital currency.

Tom Meuser, the chairman of El Dorado Savings in California, said he could not get the necessary two-thirds backing from his shareholders because of recent declines in bank stock prices.

The 10 startups will receive initial investments, mentoring and training as part of the ICBA ThinkTECH Accelerator.

Saul Van Beurden will have oversight of both technology and information security and will report to CEO Tim Sloan.

Consumer lending should also be a bright spot, while mortgage lending could be suppressed by rising rates and tight housing supplies.

Deposit premiums for bank mergers, which topped 10% in 2018 for the first time in years, are expected to keep rising as competition for cheap funding intensifies.

The banking industry is unduly worried that recent credit union deals could open the door for anyone to join.

Shane Knighton, who previously worked at Member Business Lending, will take over for the retiring Gordon Dames, who served as interim CEO.