Banking

Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.

The buyer said its $70 million cash-and-stock deal for Farmers State Bank will boost its presence in the northeast section of Ohio, and provide plenty of low-cost deposits

Historically high interest rates and falling late-payment rates suggest that credit card issuers are tightening their underwriting standards amid economic uncertainty.

Seven of the 20 top-performing banks with $2 billion to $10 billion of assets last year were based in Texas. But it's not about being bigger.

Banks that kept a lid on their cost of funds managed to outperform their peers, illustrating the fact that 2024 was a defensive year for the industry.

First Northwest Bancorp is parting ways with CEO Matt Deines "by mutual agreement," the Port Angeles, Washington-based company said. Deines' departure comes a month after a hedge fund sued, alleging the lender was complicit in a Ponzi scheme.

The digital bank had previously notified about 1,000 business customers that they would lose access to their debit cards for a week, amid a systems update.

The U.K. fintech has launched a series of products that expand on its core payments business and compete with banks and other payment technology firms.

Bill Martin, a real estate developer and athletics executive who founded the community bank in 1996, said he considers the privately held institution to be "like one of my kids."

The digital bank is also partnering with two pro pickleball leagues to court fans through a consistent presence at tournaments later this year.

The group expressed concern with the White House proposal to reduce the program's funding, and urged Appropriators to fund the bipartisan-backed Community Development Financial Institutions Fund.

Stablecoins are already disrupting traditional finance and have the potential to eat away at banks' deposit base. Banks should be looking for ways to turn this emerging threat into an opportunity.

Steep trade barriers that were set to go into effect on July 9 have once again been put on pause, giving banks a welcome reprieve, but adding still more pressure and uncertainty on the Federal Reserve and the broader economy.

Business First Bancshares CEO Jude Melville and Progressive Bancorp head George Cummings are both second-generation bank CEOs — common ground that helped propel an $83 million merger deal.

The bank worked with Atomic to embed the digital payroll deposit manager into its mobile banking app.

The parent company of Wayne Bank said it would buy PB Bankshares for $54.9 million in cash and stock.

The move their regulator Bill Pulte announced introduces competition for one metric but charges from three credit bureaus will remain in place.

The voluminous resolution plans banks are required to submit to regulators are often set aside in the case of actual bank failures. There are far more efficient ways to ensure orderly bank resolutions.