Banking

Uncertainty surrounding the regulatory approval process and overall economic conditions will act as a brake on bank mergers and acquisitions in 2023, says John Corbett, CEO of Florida-based SouthState.

The National Credit Union Administration has held the rate cap for loans issued by federally-chartered institutions in place since 1987, despite recent calls to raise it.

JPMorgan Chase has a head start when it comes to developing and deploying artificial intelligence in banking, according to a new study. 

Technology that was seen as best-in-class 10 years ago is practically table stakes for banks today and does not differentiate one bank from another. Branches do.

It is rare for banks, especially large ones, to receive unsatisfactory ratings in their Community Reinvestment Act examinations. The San Antonio bank has now done it twice in a row.

North Carolina-based First Citizens blamed a rise in problem credit on certain office loans that it acquired in the CIT Group merger. Connecticut-based Webster also expressed caution about the segment, which has been impacted by remote work policies.

As deposits grow scarcer, the Stamford, Connecticut-based bank's acquisition of interLINK earlier this month promises to yield billions of dollars in core funding it can put to work paying down borrowings or purchasing securities, CEO John Ciulla says.

The nonprofit is entering phase two of its project with JPMorgan Chase intended to understand how conversational AI and emerging technologies can help low- to moderate-income consumers.

State-chartered credit unions say their fields of membership are too narrowly defined. Rather than convert to federal charters, they are backing a bill that would provide greater reach.

Almost a fifth of U.S. banks are offering savings rates of 2% or more, a huge spike from a year ago, according to new data. Banks are paying more out of fear their customers will flee to competitors offering higher rates.

Interest rates, liquidity and credit are among the National Credit Union Administration's top concerns.

With the $7.5 billion acquisition, the Minneapolis bank bolstered its customer base in the nation's most populous state by more than 1 million. Earnings accretion from the combination could offset slower loan growth this year.

While branch closings remain the norm throughout the industry, the hunt for suddenly scarce deposits is prompting some community banks to move in the opposite direction and expand their branch networks.

The McLean, Virginia-based bank is building its deposit base — in contrast with many banks that are starting to see outflows. But the growth is accompanied by rising interest expenses, which are expected to cut modestly into profit margins this year.

Artificial intelligence now has the potential to fundamentally change customers' relationships with banks, impacting everything from onboarding to retention and upselling.

California Attorney General Rob Bonta is standing by the state's commercial financing disclosure law, urging more protections for small-business financings and arguing that federal consumer law does not not apply to commercial lending.

The loan-growth projections are for Columbia Banking System itself, before the Tacoma, Washington, bank officially merges with Umpqua Holdings. The $5 billion deal is scheduled to close Feb. 28.

The company settled with the Federal Reserve after self-reporting that it had disbursed $1.1 million in wrongfully obtained Paycheck Protection Program loans.

The lending software and shared services provider was created by bankers for bankers.

The $1.4 billion-asset credit union said John Roemer officially became its new leader Jan. 23.