Banking

Marcus Castilla was recently named director of the Oklahoma bank's digital banking unit for service members; he shares what Roger offers today and some plans for the future.

A law that took effect this week allows Florida consumers to ask state regulators to investigate why a financial institution canceled an account or rejected a loan application. The law, which applies to federally chartered banks, could lead to a legal battle over the limits of state powers.

The OCC's new Vital Signs initiative gives bankers an important tool to help them assess the financial health and stability of their customers, and to help them build a strong foundation for the future.

Former employees of the Austin-based City National Bank still recall the 1981 flood that deluged the city and Whole Foods, and they take pride in the lender's role in rescuing what was then a fledgling health food store.

The focus should be on the millions of Americans whose credit reports contain serious errors, and who are increasingly desperate for relief.

With the line between banks and fintechs growing ever blurrier, financial services supervisors ought to consider adjusting regulation to fit the kinds of activity an institution is engaged in.

In this month's roundup of top banking news: a cease-and-desist issued by the Federal Reserve, high CFO turnover, the end of Chevron deference and more.

First Foundation will use the large investment to shrink its multifamily loan portfolio, which has weighed down its earnings since interest rates began rising.

Maryland-based Forbright Bank, which is led by a onetime Democratic presidential candidate, relied extensively on brokered deposits as it grew after a 2021 rebranding. The bank says it has made changes in response to regulators' concerns.

During a panel discussion at American Banker's Digital Banking conference last week, experts from American Commerce Bank discussed the launch of its virtual banking platform and theorized why other executives might be slow adopters.

With the Federal Reserve holding interest rates at elevated levels through the first half of the year, analysts are sharpening their collective focus on possible fallout from high deposit and borrowing costs.

Old Glory Bank, which has ties to conservative political figures and touts itself as "pro-America," needs to raise more capital to meet its regulator's requirements. "Failure is not an option. We're going to figure this out," the bank's president and CEO said.

The top five community banks have more than $1.2 billion in combined farm loan portfolios as of March 31, 2024.

New top executives were lined up for lenders across the West and Midwest, including Bank of North Dakota.

Executives from Citi and TDECU teased their plans for digital lending at American Banker's Digital Banking conference this week.

Bloom Credit Union and West Michigan Credit Union aim to join forces; Long Island-based New York Community Bancorp plans a reverse stock split; Providence, Rhode Island-based Citizens Financial hires longtime California banker to lead its middle-market team; and more in this week's banking news roundup.

The real test of the value of investments in artificial intelligence and other tech upgrades is the generation of measurable value across a bank's lines of business.

Large and regional banks again proved their resiliency in the Fed's annual exams. But analysts noted that a few lenders faced some negative surprises — a development that may scuttle investor hopes for share buybacks by those banks.

VersaBank plans to use the one-branch Stearns Bank Holdingford in Minnesota as a platform to expand a lucrative niche business acquiring loan and lease receivables from point-of-sale lenders.

Leaders that have created virtual "branches" weighed in at American Banker's Digital Banking conference on how to approach implementation and what results have been like.