Banking

KeyCorp, Ohio's second-largest bank, has agreed to buy First Niagara Financial Group Inc. in a $4.1 billion cash-and-stock deal that extends the company's reach in upstate New York.

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.

Sandy Spring Bancorp in Olney, Md., has appointed executives from the technology and legal industries to newly created seats on its board.

Lending Club rebounded to profitability in the third quarter as revenue growth at the nation's largest marketplace lender outpaced an increase in operating expenses.

Antonio Weiss, a counselor to Treasury Secretary Jack Lew, called Thursday for greater transparency in the pricing of online small-business loans.

Great Western Bancorp in Sioux Falls, S.D., reported higher quarterly profit on loan growth and improved efficiency.

October saw the three main card networks invest in bitcoin-related companies, which comes on the heels of major banks exploring the use of bitcoin and blockchain technology to solve some industry pain points.

The auto lender has changed the way it calculates its closely-watched provision for credit losses, a move that added to third-quarter profits and raised questions about the transparency of its loan book.

Cybersecurity expertise is helping more women get board seats, as is the British government; MUFG Union's Stephen Cummings calls for faster progress on the diversity front; JPMorgan's Eileen Serra announces a new mobile wallet called Chase Pay; and Deustche's Susan Skerritt shares some leadership lessons.

Webster Financial in Waterbury, Conn., has promoted its head of commercial banking to president of Webster Bank and its holding company.

United Bankshares in Charleston, W.Va., recorded profit growth in the third quarter on higher average earning assets.

California’s Richmond Community Foundation will pursue a new social impact bond vehicle with a $3 million revenue bond private placement it hopes to close next month with the local Mechanics Bank.

Bank of America in Charlotte, N.C., is selling 23 branches in West Coast states. The bank also plans to sell a total of $1.2 billion in deposits and $821,000 in loans to TriCo Bancshares in Chico, Calif.; Bank of Commerce Holdings in Redding, Calif.; and Cascade Bancorp in Bend, Ore.

Ally Financial in Detroit drew more deposits into its online bank last quarter, which helped improve its lending margin even as profits declined.

The RushCard debacle should lead to consumer improvements, but it should not undercut the progress prepaid has made in helping consumers manage their finances.

Spencer Savings Bank and Southbridge Savings Bank in Massachusetts have agreed to merge in a combination of mutual thrifts in the Worcester, Mass., area.

MB Financial in Chicago has agreed to buy an asset management firm.

Opus Bank in Irvine, Calif., has promoted Jennifer Simmons to chief operating officer and appointed her to the executive committee.

BOK Financial in Tulsa, Oklahoma, reported a small drop in third-quarter profit, as a decline in the value of mortgage servicing rights offset loan and fee income growth.

All participants in financial services will have to start behaving, thinking, organizing themselves as technology companies and focus on three things: technology, data and customer (or, better yet, user) experience.