Banking

The Illinois company plans to combine Guaranty Federal Bancshares in Springfield with another bank it bought in the region.

Meghan Hinds, a 15-year veteran at the San Francisco bank, leads a group that’s been reorganized following several key departures last spring.

The Portland, Oregon, company has tapped former Bank of the West executive Kevin Gillette to lead its expansion in Arizona.

The Pennsylvania community bank lacked the resources to go all-in on developing a diversity, equity and inclusion policy, so it turned to grad students at Georgetown University for help.

Kevin Jones, the longtime leader of MidFlorida Credit Union — one of the largest credit unions in Florida — will retire March 1. He will be succeeded by S. Steve Moseley, who was MidFlorida’s president for the past four years.

The company, whose software is used by four of the top five U.S. banks, says it will use the money to improve its identity verification and fraud detection technology.

The smallest of the Best Banks to Work For have figured out how to thrive in an environment where many employees are working fully or partly from home. Some are using flexibility as a tool to stave off burnout.

Brett King, founder of Moven, host of the radio show “Breaking Banks” and co-author of the forthcoming book “The Rise of Technosocialism,” has strong opinions about how technology is changing finance and the world. His forecast includes more automation, fewer jobs and the emergence of central bank digital currencies.

A recent report from banking regulators says the digital assets pose too big a risk to the financial system to be issued by state-chartered entities that don’t have deposit insurance. Stablecoin issuers and others reject that claim and say regulators are discouraging competition.

The U.S. unit of Spain’s Banco Santander is the latest bank to make it easier for customers to avoid the charges.

Bank of New York Mellon will sever ties with the billionaire Gautam Adani’s contentious Carmichael thermal coal mine in Australia, the latest global financial institution to distance itself from the project.

On Jun. 30, 2021. Dollars in thousands.

Even as the pandemic has hastened adoption of digital banking, industry officials say branches remain vital points of contact with consumers.

On Jun. 30, 2021. Dollars in thousands.

The Houston companies emphasized the need for added size to compete with megabanks such as JPMorgan Chase and Wells Fargo.

On Jun. 30, 2021. Dollars in thousands.

Citigroup said it plans to take charges of $1.2 billion to $1.5 billion as it winds down retail banking operations in South Korea, part of CEO Jane Fraser’s sweeping efforts to focus on more profitable businesses for the Wall Street giant.

Wellby, Powered by JSC Federal Credit Union has named Martyn Pell as its president and CEO. He most recently was chief lending officer at Coastal Federal Credit Union in North Carolina.

Northern Hills Federal Credit Union in South Dakota is one of several institutions testing tools that can deliver faster loan decisions, an edge they need against digital upstarts.