Banking

The Maryland bank is merging with Linkbancorp in a nearly $168 million deal that would create a $3 billion-asset company. The transaction comes just months after OceanFirst Financial and Partners nixed their merger plan, citing regulatory delays.

Net income for the country's six largest banks is expected to fall 15% in the fiscal first quarter, according to data compiled by Bloomberg. That would be the largest drop since the third quarter of 2020.

Centric Federal Credit Union, which previously covered only Ouachita and Lincoln parishes in north Louisiana, has received regulatory approval to add an additional 26 parishes and counties in its home state and neighboring Arkansas.

Apollo Global Management is in talks to inject the funds to support the leveraged-finance business of Credit Suisse Group's investment banking spinoff First Boston, potentially making it one of the biggest backers of the Swiss lender's revamp.

The sweeping legislative package would require digital-asset businesses to get licensed and add to the authority of the state financial services regulator. Illinois officials say the changes would protect consumers and level the regulatory playing field, but a banking trade group is pushing back against some of the ideas.

Driver Management Principal Abbott Cooper said the Dallas company failed to foresee the spate of interest rate hikes that have cut its profitability. Following the bank's latest rebuff, Cooper is threatening legal action.

The arrangement is designed to benefit commercial clients of both banks that operate on multiple continents. The companies reached the arrangement as part of the recent sale of Bank of the West.

Derrick Bailey, the Ohio credit union's president, will become chief executive as expected. He will succeed Leslie Bumgarner, who announced her plans to retire last year, on July 1.

The move comes after rivals Bank of America and Goldman Sachs Group cut CEO pay, while JPMorgan Chase and Wells Fargo left theirs unchanged.

Customers will enter or modify their financial goals in Life Sync, which will immediately alert their financial advisor. 

Buckeye State Bancshares near Columbus said it would buy cross-state rival Rockhold Bancshares. Only six such deals were announced in January, making it the slowest first month of a year for M&A since the financial crisis.

The Moon Township-based credit union promoted Lisa Florian, its senior vice president of experience, digital strategy and marketing, to replace Ron Celaschi, who is leaving to become CEO of Patriot Federal Credit Union in Chambersburg.

TD Bank estimates it hands out 20 million pens every year. Huntington is getting close to offering its 80 millionth pen. It's a way to get a bank's brand to travel with customers across the globe, but is it worth it?

Octaura, an electronic portal backed by seven global banks, completed its first syndicated loan trades earlier this month.

The Canadian-owned bank is retiring its Hubert the Lion mascot, which Harris Bank originated more than a century ago. Other furry representatives have also faded out as the banking industry has become more nationalized.

JPMorgan Chase, Morgan Stanley and Bank of America threatened to leave climate group NZBA late last year if limits on their fossil-fuel activities were imposed, concerned that they would be legally bound, according to people familiar with the process.

The National Credit Union Administration proposed a rule that would, among other changes, allow remote workers to join credit unions in their employer's market.

If the industry's largest players reported more payment information to the credit bureaus, many consumers would qualify for better offers from competitors, the Consumer Financial Protection Bureau said. It's the latest example of the bureau's increased scrutiny of credit card companies.

Even the newest technological innovation cannot beat personal interactions when it comes to forging a deep and meaningful association with clients, which typically lasts for years.

Priscilla Sims Brown's values and experiences over a long and storied career were a perfect fit with Amalgamated Bank, where she became CEO in 2021.