Banking

Richard Krauland will retire later this year as chief executive of NexTier Bank in Butler, Pa., after leading the institution through two mergers and name changes.

Revenue at Webster Financial in Waterbury, Conn., hit a record $240.6 million in the first quarter, but expenses related to its expansion in Boston and an uptick in net chargeoffs kept profits flat.

Summit State Bank in Santa Rosa, Calif., has a new chief executive.

Consumer credit default rates remained relatively flat in March despite a jump in bank card default rates, according to the S&P/Experian Consumer Credit Default Indices.

Community banks are at a crossroads as they face a threat from alternative lenders and the need to stay true to the traditional bank model. What they should do?

Comerica reported a steep decline in first-quarter profits as weak energy prices forced the Dallas company to sharply boost its reserves for loan losses.

Senate Banking Committee Chairman Richard Shelby, R-Ala., is seeking input from the Government Accountability Office and the Congressional Budget Office on the future of policies dealing with Fannie Mae and Freddie Mac.

A British author and a Singapore venture capital firm have formed a $5 million investment fund to help banks partner with startup companies in the blockchain industry.

WASHINGTON — Several Democratic senators are calling for the Government Accountability Office to investigate whether financial technology companies are properly regulated.

Porter Bancorp in Louisville, Ky., used part of $5 million it raised in a private placement to become current on interest payments on some debt holdings.

William Penn Bancorp in Levittown, Pa., is facing pressure from an activist to conduct a mutual conversion.

Ally Financial has launched a mobile app that uses geolocation to caution smartphone-carrying customers when they are arriving at stores where they overspend.

The U.S. Postal Service is neglecting its profitable money-order business, which has lost 25% of its sales volume over the last five years. Big changes are needed to revive the product, according to a new report.

M&T is squeezing savings out of its newly purchased Hudson City Bancorp after fighting long and hard for regulatory approval. But it's also taking steps to keep Hudson City's customers from leaving, like offering higher rates on CDs in the New Jersey area.

Carver Federal Savings Bank in New York announced a loan program for small businesses on Monday.

As mobile wallets become more popular they'll also become more popular targets for fraud. Banks ought to improve enrollment guidelines and other security tools in plotting their mobile-wallet strategy.

Peoples Bancorp in Prairie Du Chien, Wis., has agreed to buy four branches in Wisconsin from FirstMerit.