Banking

Several big investors say they will oppose reelection of several board members at Friday’s annual meeting; Aberdeen is hoping “Abrdn” will lift it in search results.

The quick adoption of financial technology, coupled with remote work, requires firms to focus on internal innovation as well as customer-facing advancements.

The Missouri company announced the deal just five months after buying Seacoast Commerce in San Diego.

At first the deal seemed an unlikely marriage of two mortgage-heavy companies. But acquiring the Michigan company would help New York Community accomplish its two chief goals — reducing deposit costs and its concentration of multifamily loans — while giving it the scale to pursue more deals.

On Dec. 31, 2020. Dollars in thousands.

On Dec. 31, 2020. Dollars in thousands.

On Dec. 31, 2020. Dollars in thousands.

The bank says it “misjudged” the reaction to its financing the botched European Super League; big shareholders say the board member in charge of risk management should leave.

Deposits keep flooding in, mortgage lending shows signs of cooling, and bankers can’t agree on when commercial lending will rebound. Here’s what we learned from first-quarter results.

The proposed acquisition is the second deal in as two days to involve an Atlanta-based seller.

CEO John Turner said green projects present a strong business opportunity for the Birmingham, Ala., company.

The legislation, which takes effect in July, follows a 2019 law that modernized the state's credit union statutes.

The Las Vegas-based institution has joined a small group of credit unions whose assets top $1 billion, which make up less than 10% of the total industry.

Bankers say the federal tax exemption for credit unions costs U.S. taxpayers $2 billion each year. But eliminating it would prevent the not-for-profit financial institutions from channeling their savings into higher rates and lower fees that stimulate commerce — and generate additional tax income.

Issuers should use the next year to build their own card program, tailored for their market's specific needs, says Zeta's Bhavin Turakhia.

The Illinois companies agreed to merge in a transaction that is expected to close later this year.

Citigroup could fetch as much as $6 billion from the sale of retail banking assets in 13 markets across the Asia-Pacific region, Europe and the Middle East as the lender forges ahead with plans to fine-tune its global branch network, people familiar with the plan said.

Brian King is coming back as chief risk officer after leaving for a similar job at Wells Fargo; the former Citi executive, who is running for mayor of New York, is getting $5.7 million.

The popular annual program is back and it has never been easier to participate, but the deadline to register is coming up quickly.

Regulators recently eased field-of-membership rules to promote growth of federal credit unions. A handful of institutions are taking advantage of the changes to recruit more members, but some may find the process too cumbersome.