Banking

The KBW Nasdaq Bank Index is down more than 7% year to date. Analysts blame confusion caused by President Trump's evolving tariff policies and heightened worries about an economic downturn that could hurt banks' credit quality.

Five Star Bank's parent company denied wrongdoing but said the agreement spares it the uncertainty and expense that might have resulted from a trial.

A joint venture between the military-focused Palantir and investment conglomerate TWG will sell cybersecurity protection to financial institutions that are wary about the safety of artificial intelligence.

CEO George Gresham has left the struggling fintech, which will now explore potential strategic alternatives.

The 10-year-old lender, which reported a double-digit jump in profits, is benefiting from what its CEO called "animal spirits" at work on this side of the Atlantic.

First Busey finalized its acquisition of CrossFirst Bankshares; American Express agreed to buy expense management firm Center; Valley National Bank appointed a new president of commercial banking and a new CFO; and more in this week's banking news roundup.

Forecasters on an American Bankers Association panel predict continued economic growth this year, though they say President Trump's tariffs have created new inflation and recession risks.

Six proposals involving the purchase of a bank were terminated or rejected in 2024.

The New Jersey bank, which has been investing in its capital markets business, recently helped the fintech lender Best Egg securitize and sell $160 million of loans.