Banking

The Tupelo, Mississippi-based institution hasn't made a bank deal since 2018, but it has acquired two asset-based lenders in the past 10 months.

Mid Minnesota Federal Credit Union named Bob Gerads, formerly of Falcon National Bank in Minnesota, to succeed Chuck Albrecht as president and chief executive.

The parent company of Silicon Valley Bank has tapped Kim Olson, a former bank supervisor who most recently worked at Tokyo's Sumitomo Mitsui Banking Corp., to oversee its risk department.

Credit card interest rates are expected to reach a four-decade high this year, a positive for lenders poised to benefit from the increased income while painful for consumers facing escalated borrowing costs.

The top five have over five billion dollars in total loans and leases as of June 30, 2022.

John Deese stepped down as president and CEO of the West Palm Beach credit union, effective Dec. 31.

The California bank, which owns the technology underlying the Diem stablecoin from Meta, said its deposits plunged 68% in the fourth quarter but that it has more than enough cash on hand to weather the storm.

Rising interest rates and the potential for weakening economic activity could result in moderating loan demand in the new year. Some bankers are already being more selective in their lending.

Student borrowers in the U.S. are struggling to keep up with other kinds of debt even while college payments are frozen, and a surge in delinquencies is likely if the government's debt-relief plan fails, according to a new study.

Minority depository institutions have limited budgets and staff to upgrade their technology. Some are turning to secondment programs and like-minded fintechs to tackle these problems.

A new app for people with a criminal past and a challenger bank "of immigrants for immigrants" are among the neobanks forging their own path in the banking world.

The accident killed the plane's pilot, Utah businessman Nathan Ricks. The Seattle company has named an interim chief while Beardall recovers after surgery.

Land of Lincoln Credit Union in Decatur has agreed to acquire Colchester State Bank in Colchester.

But it's not that green financing is finally winning out over fossil-fuel lending. Rather, Big Oil looks to be getting more money from elsewhere.

Many in Utqiagvik, Alaska, say they like banking with the country's fourth-largest bank. But they also want more banking options in their town, a reality that rural communities across the United States face.

The Mississippi bank would take a big hit to capital and income but avoid the risk of a bigger payout from a guilty verdict in litigation against banks that did business with Allen Stanford's disgraced financial empire.

Roxane Bowering succeeded Andrea Thune as the next president and chief executive of the New York credit union.

Charles Vice, former commissioner of the Kentucky Public Protection Cabinet's Department of Financial Institutions, will advise the National Credit Union Administration's board on policy and tech-related initiatives.

The Spanish lender, aiming to become a leader among second-tier lenders in the U.S., expects to increase the number of bankers at its securities and advisory unit, its head of corporate and investment banking said.

Wells Fargo nabbed a spot among the top 10 advisors on mergers and acquisitions last year, a first for the firm as it ramps up its investment bank under Chief Executive Charlie Scharf.