Banking

Standing on the sidelines when it comes to the implementation of artificial technology in the investment banking sector is no longer a viable strategy. Companies must move ahead, or risk being left in the dust.

The Federal Reserve Board on Friday approved UMB Financial's pending $2 billion acquisition of Heartland Financial.

The action rids the Montana bank of a $62.8 million loan that's long been on its watch list. It comes as First Interstate's new CEO looks to put his own stamp on the bank.

Texas Capital Bancshares promotes Aimee Williams-Ramey to chief human resources officer; M&T Bank hires Wells Fargo veteran Krista Phillips for newly created post of chief customer officer; Paul Connolly and Paul Speiss age out of their positions on Eastern Bankshares' board; and more in this week's banking news roundup.

Clearfield-based CNB Financial's planned acquisition of ESSA Bancorp in Stroudsburg would create an $8 billion-asset company with 49 branches and nearly $5 billion of deposits in the Keystone State.

Regulatory shifts and loan growth are some of the hot-button topics banks will seek to address as they start sharing their fourth-quarter reports next week.

The San Antonio-based insurer and bank has named Juan Andrade as its next CEO. The company's bank has suffered a series of regulatory penalties.

As the flames continued to spread, banks closed more branches while others donated to relief efforts.

The Bethesda, Maryland-based company called its success in luring a team from Capital One as its most "newsworthy" move to date executing a strategy aimed at diversifying its lending operation.