Banking

Washington Federal in Seattle has named Erin Lantz, a general manager of mortgages at Zillow Group, to its board. Lantz, 37, worked at Bank of America from April 2003 to 2010, eventually serving as senior vice president of program management.

Wells Fargo is saying so long to product sales goals for retail bankers, and the industry may never be the same.

Increasingly, our conversations about digital banking are only about technology. We must expand our dialogue to include ways to make digital banking empathetic.

For large banks, the risks of partnering with marketplace lenders do not matter. But small community banks can't afford to partner with competitors angling to poach their customers.

Pilot Bank in Tampa, Fla., has recruited Rita Lowman, the chief operating officer of C1 Bank in St. Petersburg, Fla., to be its COO.

John Stumpf was coasting toward a carefully planned retirement. But the outcry over sham accounts at the San Francisco bank has put him in a precarious position as he testifies in front of Congress next week.

Angel Medina has been promoted to chief executive at Gibraltar Private Bank and Trust in Coral Gables, Fla.

PNC Financial Services Group plans to increase consumer lending with its current tilt toward commercial loans generating lower overall loan yields.

Old Dominion National Bank in McLean, Va., has raised $20 million through a private stock offering.

The opening of its new 5,000-square-foot innovation lab marks a reaffirmation of the French bank's interest in blockchain technology. But that's just one of the research areas its people will be working in.

When a mobile banking vendor told a San Antonio Federal Credit Union it didn't have the capabilities it wanted, the institution took a note from Facebook's strategy with Messenger and created a companion app.

For First Foundation, the government-backed program should help address a recent CRA exam's criticism that it has "poor penetration among businesses of different revenue sizes."

Blue Hills Bancorp in Norwood, Mass., expects to record a third-quarter chargeoff tied to a commercial borrower that may have committed fraud.

Provident Financial Holdings in Riverside, Calif., has restated earnings from its most-recent quarter after it booked higher loan-origination costs.

Community Savings in Caldwell, Ohio, has begun the process to convert from a mutual thrift to a stockholder-owned company.

Two big investors in Heritage Commerce have converted some of their ownership in the San Jose, Calif., company to common stock.

Under pressure from regulators and investors, banks that tout their sales cultures may have no choice but to follow Wells' lead and stop rewarding branch employees for hitting sales targets.

First Midwest Bancorp in Itasca, Ill., has entered a sale-leaseback agreement with Oak Street Real Estate Capital in Chicago.

Banks will report quarterly results in about a month, and big-bank chiefs cautioned that lending is sluggish because businesses have little desire to take on more debt amid economic and political uncertainty.

It would be hard for traditional institutions to close the gap with Venmo, but there is room for competition with the mobile payments app beloved by millennials … and nine other insights about this generation of digital natives.