Banking

The $116 million deal to acquire HMN Financial in Rochester would mark the 26th acquisition of this century for Alerus. The transaction is slated to close in the fourth quarter.

The VantageScore 4plus product pulls in standard credit file information while also analyzing bank account balance and other transactional data to create an adjusted score

The real-life British banker behind the hit Netflix movie 'Bank of Dave' talked with American Banker about the sequel due out next year and why opening more local community banks is so important.

The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.

The small business lender's bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.

Community Financial Development Institutions' mission-driven lending has traditionally been a small segment of the lending market. That's beginning to change, but plugging into secondary lending markets might not be the kind of change communities need.

Executives also say funding pressures have begun to ease, though high interest rates and deposit costs remain a leading worry, according to new surveys.

Quaint Oak Bancorp sold its majority stake in an equipment lender less than two years after the partnership helped drive record profits at the Southampton-based company.

Branch office deposit data is among the most confidential information at a bank, especially those with many branches. Why have regulators made this sensitive competitive data public for banks and thrifts annually for over 50 years but not for credit unions?

What lies ahead for the banking industry this year? Here's what analysts and investors are tracking after the latest bank earnings reports.

The Charleston-based company agreed to pay $267 million to acquire Piedmont Bank in Peachtree Corners, Georgia. It's United's 34th deal, but the first since 2021.

The Puerto Rico-based company's board of directors has given an additional title to COO Javier Ferrer, naming him president as of May 9. His career path closely resembles that of his boss, CEO Ignacio Alvarez.

Truist Financial completes the sale of its remaining stake in Truist Insurance Holdings; City National Bank has hired Rick Bechtel as executive vice president and head of mortgage and residential lending; Associated Bank names Chun Schiros as its first chief analytics officer; and more in the weekly banking news roundup.

American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.

Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.

Depositors are still flocking to online-only banking platforms offered by companies such as Ally, Capital One and Discover. But overall customer satisfaction took a "statistically significant" drop, according to a new J.D. Power report.

Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.

A group of 24 institutional investors say a recent pledge by the British bank to restrict financing for companies that focus exclusively on fossil-fuel exploration and extraction doesn't go far enough.

Banco Bilbao Vizcaya Argentaria SA took its offer for Banco de Sabadell SA directly to shareholders, a rare hostile move that the Spanish government said it opposed on concerns over job cuts and reduced competition. 

After a California woman spent more than a decade obtaining reparations for Nazi plundering of her family's belongings, the money disappeared from her bank account. Her saga highlights a gap in fraud cases between what consumers expect from their banks and what those banks are in a position to deliver.