Banking

SRP Federal Credit Union in North Augusta named Eric Jenkins as the organization's next leader, effective Sept. 1. He will succeed current interim president Woody Shuler, who has led the $1.7 billion-asset credit union since November, 2020.

10 things to know in August: Community banks are partnering with smaller core providers for tech overhauls, Bread's outage leads to a consumer uproar and more.

The Delaware-based bank sees a particular opportunity to serve senior living communities and long-term care facilities. It has hired Kevin McKeown from Fulton Bank to run the new group.

Merely telling employees what to do may get the job done, but telling them why they're doing it fuels engagement.

New policies, aided by partnerships with local organizations, are helping credit unions make significant progress on DEI.

At least two credit unions — Wright-Patt Credit Union in Ohio and Weokie Federal Credit Union in Oklahoma — have recently handed out bonuses to help employees meet rising expenses.

The acquisition of Central Financial, expected to close in the first quarter of 2023, would create a bank with more than $10 billion of assets.

Since last year, banks have sharply reduced what they charge when consumers spend more money than they have, according to new research. Monthly maintenance charges and fees for using out-of-network ATMs have remained much more stable.

BofA has launched two programs, one focused on increasing homeownership for Black and Hispanic Americans, and the other on small businesses owned by women and minorities that buy commercial real estate in federal opportunity zones.

The Federal Reserve is closing in on the launch of its real-time payment settlement system next year. By that time it will be six years behind the private-sector alternative, and it could prove to be redundant to a future Fed-issued digital currency.

The pending deal will help keep the Canadian bank's funding costs low, since Bank of the West has a strong core deposit portfolio, executives said Tuesday. BMO is sticking with its year-end timeline for closing the acquisition.

After a decade of multibillion-dollar tech investments by banks, efficiency ratios have begun to improve and headcounts drop, some industry watchers say. Skeptics counter that other reasons are at play and that it's all hard to measure.

Credit unions in Georgia, Virginia and Mississippi plan to combine, creating an institution with $216 million of assets.

A group of 18 U.S. representatives is demanding Credova Financial answer questions about its no-interest financing options for the purchase of guns and ammunition.

Sumitomo Mitsui Banking Corp.'s new consumer-focused digital bank will be born out of its Manufacturers Bank subsidiary — a relatively small commercial bank with nine branches and no consumer business to speak of.

The 70 institutions on this year's list create a great work environment by offering robust benefits, recognizing a job well done and providing clear communication from the C-suite.

Data as of Jun. 30, 2022. Dollars in thousands.

Data as of Jun. 30, 2022. Dollars in thousands.

The financial industry is offering loans for solar energy projects, carbon emission trackers, green mortgages and cash-back incentives to help customers go green.

The privately held First Missouri Bank has rebranded as Verimore Bank.