Banking

The $3.4 billion-asset organization based in Phoenix said it would acquire 1st Bank Yuma in the record-setting 17th deal of 2024 involving a credit union buying a bank.

As political campaigns become more expensive and more complicated, meet the banks that have become the preferred financial institutions for the Republican and Democratic parties.

The top five credit unions on this list have more than $36 billion in unsecured card loans and lines of credit.

Federal Deposit Insurance Corp. Chair Martin Gruenberg said an FDIC study proves relationship-driven lending practices remain crucial to small-business lending and economic stability, despite technological advancements in the banking industry.

As part of a wide-ranging speech on community bank oversight, the Federal Reserve governor said business models should determine regulatory scrutiny rather than asset size.

New Canaan-based Bankwell's digital solution relies on software designed by Lendio to compress the application-to-funding interval and appeal to speed-conscious small-business owners.

The Miami-area bank long ago exited New York and has plans to leave Texas, as CEO Jerry Plush expands its footprint in the Sunshine State. The shift comes as the bank, which competes in Florida with many out-of-state banks, is set to cross $10 billion of assets.

The top five credit unions have combined first mortgage loans and lines of credit of more than $104 billion as of June 30.

Multiple lenders recruited and promoted from within to fill leadership posts. Orrstown Financial Services disclosed the retirement of its planned CEO successor.

The Chicago-based bank said it would acquire First Security Bancorp in Elmwood Park. The transaction would push it close to $10 billion of assets.

Bank of Nova Scotia shuffled the leadership of its capital-markets business as it looks to increase its presence in the United States.

Banks in the hurricane's path are focused on finding employees and restarting operations. Those that do business in Western North Carolina are facing an especially grueling recovery.

Digital Federal Credit Union and First Tech Federal Credit Union, among the largest in the country, originated from technology companies.

An American Bankers Association panel of forecasters predicted slower growth, but it said the U.S. economy would likely avoid a recession, sparing lenders deep credit quality woes.

The Consumer Financial Protection Bureau's open banking rule is supposed to put small banks on a more even footing with their larger rivals. But PNC CEO Bill Demchak says larger banks' advantages in tech and economies of scale will win the day.

The National Community Reinvestment Coalition and four fintechs want the agencies to act on the White House's executive order on artificial intelligence.

First Republic's failure last year left its wine bankers available for poaching. The group joined Umpqua Bank, whose expansion in the wine business comes at a tricky time for the industry.

A recent deal with a gourmet cookie franchise highlights the business that Ogden-based TAB Bank has built lending to companies other banks shy away from.

The Federal Deposit Insurance Corp.'s proposed rule on brokered deposits would be a step backwards for the agency and the industry it regulates.

Democratic Gov. Gavin Newsom signed measures designed to bolster consumer protection rules. The bills target several issues that have also been percolating at the federal level.