Banking

Elevations Credit Union is paying athletes at the University of Colorado Boulder by way of a new credit card. The annual fee, plus two cents per transaction, will go to a collective that provides financial support to Buffaloes players.

The number of banks announcing plans to sell this year reached 108 by the end of Oct.; Truist Financial promoted Brad Bender to chief risk officer; Old Point Financial made Cathy W. Liles its chief financial officer; and more in this week's banking news roundup.

Treasury yields rose the day after President-elect Donald Trump was picked. The short-term result: It's harder for commercial real estate lenders and borrowers to find common ground.

Agriculture lenders expect more than a third of their borrowers to lose money this year, a development that could result in credit quality deterioration and impacts on banks' bottom lines.

Customized perks, AI-driven solutions and even freelance employees are all in play at banks as human resource managers confront the challenge of recruitment and retention.

The Arkansas Republican, who could be the next chairman of the top banking panel in the House, could find some areas of agreement with Democratic Senate Banking Committee ranking member Elizabeth Warren on issues like failed bank resolution reform.

The top five community banks averaged a return on average equity of 115.97% as of June 30.

California's banking market, shaken up by big acquisitions and last year's crisis, is drawing financial institutions seeking opportunity.

The agency had been on the verge of downgrading Philadelphia-based Republic First Bancorp's CAMELS rating to the lowest level but opted for a less severe remedy after a November 2020 visit.

The Dallas-based bank is accusing the Consumer Financial Protection Bureau of "pursuing an aggressive and overreaching investigation" into its role in a Treasury Department prepaid card program.

The reduced pace of consumers moving into delinquency adds evidence to the thesis that households are facing lower financial stress.

Senior loan officers polled by the Federal Reserve reported that they further upped their standards for approving credit for customers. But they also signaled that concerns are easing and credit quality is poised for improvement.

Amid growing awareness of mental health needs in the workplace, some banks are doubling down on benefits that go beyond traditional employee assistance programs. What's behind banks' heightened focus, and what's the long-term strategy for investing in this area?

Credit Union Service Organizations such as Prizeout, have seen increased interest as credit unions get on board with automation.

The top five banks have combined construction loans of more than $71 billion.

Anthony Gressak III, who also served as interim CEO of Nano Banc, allegedly obtained pandemic relief funds fraudulently.

CEO Robert Fehlman will retire at the end of the year and be succeeded by his predecessor, George Makris Jr., the Arkansas-based company said Tuesday.

The New York bank's planned $125 million public offering comes less than a week after Valley National raised more than $400 million with a similar transaction.

The growth in mobile banking has lowered barriers to accessing the banking system, but the Federal Deposit Insurance Corp.'s National Survey of the Unbanked and Underbanked released Tuesday reveals that minority households are still disproportionately underserved.

Financial advisers have been retained to find a buyer for the Saint Paul-based lender, people familiar with the matter said. The sale of the bank has been a sore point for about five years.