Banking

The Paycheck Protection Program propped up many banks' balance sheets in the first half of the year, but what will drive loan demand in the second half?

In spite of the pandemic, the Columbus, Ohio-based corporate credit union was able to return the funds to some owners on the strength of strong earnings through the firs two quarters.

Jelena McWilliams explains the agency's decision to enlist the help of tech innovators to modernize a reporting process that the coronavirus epidemic has exposed as outdated.

Mesaba, which is also based in Minnesota, is the parent of American Bank of the North and Lake Bank.

Wei Ke, partner at Simon-Kucher & Partners, shares research and analysis from a recent consumer survey on branch versus digital banking behaviors after the coronavirus lockdowns are over.

Investar Holding called off its deal to buy Cheaha Financial in Alabama.

The company seeks to help funnel more loans to minority businesses and consumers; the regulator says short-staffed banks are having trouble handling new government programs.

CB Financial Services, Mercantile Bank and Nicolet Bankshares said they would shutter a total of 12 branches.

The extension to Aug. 8 was offered by Sen. Ben Cardin, a Maryland Democrat, and cleared the chamber by unanimous consent. The House has yet to take up the bill but could pass it as soon as Tuesday night.

Federal Reserve Chairman Jerome Powell said about 300 lenders have signed on to the program and that the central bank is committed to making adjustments that could attract more borrowers.

Lenders are selling their Paycheck Protection Program loans or hiring outside companies to navigate the process in an effort to reduce risk and avoid overloading their employees.

Southwest Bancshares in San Antonio will have assets of $1.5 billion when it absorbs two affiliated banking companies in nearby cities.

The coronavirus outbreak forced BBVA USA to rethink a plan to add 15 branches in Texas, but it decided to move ahead anyway, albeit with a few tweaks.

The online TV giant will start by moving $25 million to a fund that invests in minority-run financial institutions that serve low-income communities and depositing $10 million into Hope Credit Union in Jackson, Miss.

Supreme Court says the president has the power to remove the director at will; the bank is the only one of the six largest U.S. banks to say it will cut its dividend next quarter.

Bank consolidation has been stagnant since the pandemic hit, and the outlook for the rest of the year is bleak.

The company said it had cut 20 positions and found a way to shed 35,000 square feet of office space by the end of 2020.

Eric Luse, who co-founded the Luse Gorman law firm, helped Community Bank Shares of Indiana create the first MHC in the early 1990s.

Goldman Sachs, the card’s issuer, has rolled out a new program in which it will provide personalized advice to consumers with marred credit profiles in hopes of making them customers down the road.

Thanks to their close relationship with the card networks, banks stand to benefit most from deals like Mastercard’s agreement to buy Finicity and Visa’s pending purchase of Plaid. The prospects for fintechs and consumers are dicier.