Banking

The $2.5 billion-asset company will freeze pension benefits for the 10% of its workforce that still receive a pension.

First National Bank of Orwell in Vermont has named Bryan Young chief executive. Young, 38, will succeed his father, Mark Young, as CEO of the $56.1 million-asset bank beginning Jan. 1.

KeyCorp is partnering with fintech firms to offer innovative payments products to its commercial clients, as interest in payments technology begins to spill over from retail into commercial.

Banks face a growing risk of complacency given years of improved credit quality. They should periodically evaluate the status of loans and underlying collateral to make sure they proactively manage risk.

The $364 million-asset company named Steve Rownd to the positions, effective Jan. 1. Rownd will also be named president and CEO of FNB Bank.

The board of Pascack Bancorp in Waldrick, N.J., spent years debating whether to sell the company or remain independent.

Roy Barnes, a former Democratic governor of Georgia, and his brother have agreed to buy WestSide Bank in Hiram, Ga., for $3 million.

Legislative proposals to reform the housing finance system have failed to garner enough support, but a surprisingly simply reform idea is in plain sight: deeper private mortgage insurance coverage.

Attempts to sneak provisions into a final budget deal may be sold as helping community banks, but many of the measures really help big banks and undermine consumer protection.

Lake Sunapee Bank Group in Newport, N.H., has exited the Small Business Lending Fund.

The healthcare industry will be a target for data breaches next year because of the high value of medical records sold on the black market and the ongoing transition to electronic medical records, according to a new forecast.

Missouri Attorney General Chris Koster proposed reforms Thursday to stop debt collection practices that he believes unfairly target minority and low-income residents.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

An estimated 1,300 former students of defunct for-profit Corinthian Colleges Inc. will have their federal student loans canceled by the U.S. Department of Education after it found students were tricked into taking on the loans, according to a government report released Thursday.

The $3.8 billion-asset First Busey said in a press release Thursday that it will pay $210.7 million, or $17.24 a share, in stock for the $1.5 billion-asset Pulaski.

Athens Bancshares in Tennessee has decided to delist its stock from Nasdaq and deregister with the Securities and Exchange Commission.

Since consumers have been able to lock in historically low rates, the monthly payment on a 30-year fixed-rate mortgage has been within reach for most borrowers. That could change with a rise in interest rates.

Flagstar Bancorp in Troy, Mich., has picked Andrew Ottaway for the newly created position of managing director of lending.

The $1 billion-asset Charter said in a press release Thursday that it will pay $58.8 million, or $20.50 a share for the $369 million-asset parent of Community Bank of the South.

Goldman Sachs is seeking to create its own cryptocurrency for post-trade settlement, according to a recently released patent filing.