Banking

Investors homed in on the benefits of positive economic data for lenders, rather than the possibility of a strong job market delaying interest rate cuts that would help to lower deposit costs and boost credit demand.

This year a California bank takes the No. 1 spot on American Banker's annual list of the best performing community banks.

Though hard times put a dent in profitability, asset quality and net interest margin continued to shine among the list of the best performing publicly traded community banks.

During New York Community Bancorp's annual shareholder meeting, executives reiterated their mission to restore value in the beleaguered Long Island-based company. Questions from shareholders suggested at least some discontent following a capital influx that significantly diluted their position in the company.

In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.

Most banks are starting their generative AI experiments with closed-source models before progressing to open source. For some, the ultimate goal is to be model-agnostic.

The 3-year-old Climate First in St. Petersburg appears primed to take its renewable energy lending nationwide now that it's exiting the de novo phase.

Rather than fueling uncertainty, the Consumer Financial Protection Bureau should be devising strategies that facilitate clearer policies that bring more certainty to lending markets.

A month after Gunjan Kedia was named the company's president, the Minneapolis firm has promoted Stephen Philipson and Felicia La Forgia into new roles that will cover Kedia's former duties.

The Kansas financial institution is using Copper Financial's Guided Investing product that matches members to predesigned portfolios that suit their risk profile.

ELGA Credit Union said it plans to acquire Marine Bank & Trust in an all-cash deal. The combination marks the 12th of the year involving a credit union buying a bank, keeping the industry on pace to establish a new record for such deals.

Sandro DiNello, who briefly led New York Community Bancorp amid turmoil earlier this year, is staying on the company's board. But Joseph Otting, the company's recently installed CEO, is taking on the executive chairman position.

The Indiana bank said it struck a $40 million cash deal to sell its insurance brokerage to the Hilb Group. It joined a growing number of lenders announcing such transactions.

Integrating artificial intelligence into banking operations needs to be done with a clear business purpose in mind, and the articulation of that purpose needs to come straight from the top of the organization.

The San Francisco fintech's newest product seeks to improve lenders' underwriting decisions by identifying gig-work wages, buy now/pay later loans and other income streams gleaned from bank-account data.

Total direct compensation for the CEOs of large and midsize banks declined by 6.6% in 2023, and annual bonus payouts tumbled by 30%. The decreases came as banks grappled with the fallout from last spring's banking crisis.

Though Jenius Bank hasn't reached breakeven, it's evidencing solid progress gathering deposits and making loans as it gets ready to celebrate its first birthday.

Traditional financial institutions have much to gain from collaboration with digital asset natives — and vice versa. It's time to realize that potential.