Banking

The $119 million-asset Ergo Bank in Wisconsin, which is working with the fintech Neocova, says artificial intelligence and modern data management are attainable for even the smallest financial institutions — and essential to competing with larger banks for consumers.

Tom Young is stepping down as president and CEO of the Green Bay, Wisconsin, credit union. His successor has not yet been named.

Abbott Cooper, the head of Driver Management, says Codorus Valley Bancorp is not as profitable as its peers. Cooper, who has successfully forced the sale of at least two other banks, has indicated he's ready to launch a proxy fight.

The combination of American Express and its fintech subsidiary Kabbage is starting to bear fruit at an opportune time, as credit card companies increasingly expand their range of products to boost revenue.

The Arkansas bank has hired an 11-member team to develop its new operation. Much of the team joins from TCF Financial, which was sold to Huntington Bancshares in June.

Ann Arbor Bancorp had agreed to buy FNBH in February 2020 but backed off four months later amid economic uncertainty. The two sides have reunited, though the price tag rose.

The $1.5 billion-asset SAFE FCU in Sumter, South Carolina, is combining with the $3 million-asset Sumter City Credit Union.

The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.

On Mar. 31, 2021. Dollars in thousands.

David Willis, the Oklahoma City credit union’s co-president and chief operations officer, has been selected as Kloiber’s successor and will take the helm on Sept. 1.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

The deal would mark a first step in Chief Executive Jane Fraser’s plan to exit 13 retail markets across the Asia-Pacific region, Europe and the Middle East.

Local financial institutions have fewer branches than big banks, and closing even one location makes it harder for them to serve their communities.

In the short term, the Biden administration is asking the industry to help previously unbanked households access their funds. Longer term, some banks see a real opportunity in advising their customers on what to do with the large cash influx.

The San Francisco company says it will "modify and strengthen" its filings with the Federal Deposit Insurance Corp. and Utah officials and "resubmit at a later date." It's the latest fintech to encounter such a setback, though some later secured approval.

Ando, a challenger bank focused on sustainability, is helping Virginia Community Capital Bank expand its 5-year-old clean energy lending program by finding a bigger pool of depositors who are eager to fund solar loans.

Chabot Federal Credit Union is combining with University Credit Union, which was founded on the UCLA campus.

Steven Schnall, the New York community development financial institution's founder and CEO, discusses its plans to let customers buy and sell bitcoin through their bank accounts, use a ring to make debit card purchases and have a better shot at a home loan.

Alabama Credit Union's agreement to buy Security Federal Savings Bank, a small commercial lender, renews lingering questions about whether small banks are prey for tax-advantaged credit unions.