Banking

Union Bankshares in Richmond, Va., has sold $150 million in subordinated notes. The $8.2 billion-asset company said in a press release Monday that the notes will initially bear an annual fixed interest rate of 5%.

Nearly a decade after he was forced to resign as CEO of Commerce Bank in Cherry Hill, N.J., the retail banking innovator was named chairman at Republic First Bancorp, which has adopted many of Commerce's practices.

Deutsche Bank has hired two executives to fill newly created positions meant to foster development of fintech products.

While the designation of the retired neuroscientist Ben Carson to run the Department of Housing and Urban Development appears to be an unusual choice, lenders are hoping he can bring a fresh perspective to the industry.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

Mobile could become the one-stop shop that banking companies never quite achieved, blending basic banking, wealth management and other services, if efforts like those underway at Citigroup's fintech unit succeed.

Pinnacle Bank in Gilroy, Calif., is looking to raise about $3 million through a rights offering.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

Welcome to the new PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web. Today: Researchers hack Visa in six seconds; China's on top of the fintech world; e-commerce mitigates currency woes in Africa; an old smartphone attack is back.

Community Bank System in DeWitt, N.Y., has agreed to buy Northeast Retirement Services in Woburn, Mass.

While there are a handful of payment pilots underway, the real benefit of blockchain for banks is a long-term proposition--and most early projects will be internal.

Kevin S. Kim thought he was joining a bank board to bring youth to an aging slate of directors. Eight years, four acquisitions and a banking crisis later, he is now the chief executive of the nation's largest Korean-American bank.

American Banker is pleased to bring you Breaking Banks, hosted by Brett King, and featuring the editors of American Banker.

Key details — like exactly how many regulations companies will face — remain to be worked out on the Office of the Comptroller of the Currency's new limited-purpose charter for fintech firms, leaving the industry divided on whether the charter is a good idea.

Fentura Financial in Fenton, Mich., is the latest banking company to outline plans to sell common stock.

The Music City is booming because of entertainment and health care. Still, banks are monitoring growth in areas such as real estate development for signs of stress.

Carlyle Group has liquidated its remaining stake in Brand Group Holdings in Lawrenceville, Ga.

Construction loans are a big source of interest income for community banks but also carry a lot of risk. A few fintech firms say their platforms can reduce the risk and improve the lending process.

Iberiabank in Lafayette, La., is planning to raise at least $255 million from a common stock offering.

Piloting distributed ledger technology is important. However, banks need to temper expectations regarding the returns.