Branch banking

The acquisition of locations owned by HomeStreet Bank will mark the Idaho bank's entry into the Evergreen State.

The Minneapolis company announced $100 billion in investments, including substantial spending in California, over the next five years. The agreement with groups that previously withheld their support removes a major hurdle in winning regulatory approval for the $8 billion deal.

The San Antonio bank is preparing to offer all customers — not just those with direct deposit — a break on overdraft charges. But CEO Phillip Green explained in an interview why he’s not prepared to step away from the fees altogether.

Bruce Van Saun, the Rhode Island bank’s CEO, previewed a branch-light strategy in new markets like South Florida and Washington, D.C. Citizens recently closed acquisitions of Investors Bancorp and much of HSBC’s U.S. retail banking business.

Metaverse aversion, car chargers at Chase branches and more in banking news this week.

The benefits Alabama One Credit Union is seeing from a migration from MPLS to SD-WAN networking help explain why other financial institutions are making the same change or have it on their road maps.

Burke & Herbert, which is based in Alexandria and has been in operation since 1852, has joined a long list of banks planting their flags in Richmond, where the overall deposit market has grown 32% in just five years.

Dontá Wilson, American Banker’s Digital Banker of the Year for 2021, succeeds Brant Standridge, who recently left the North Carolina company for a position at Huntington Bancshares.

Citing customers’ increased adoption of digital services over the past two years, banks are shrinking their physical presence, while also renovating the locations they keep — but credit unions are bucking the trend.

Key advocacy organizations are negotiating a community benefits agreement with Minneapolis-based U.S. Bancorp. Until a deal is reached, they are vowing not to back approval of the $8 billion acquisition.

Large and regional banks are not only slashing overdraft fees, they’re introducing small-dollar loans to help customers cope with income shortfalls. The policy changes made recently by just five banks could save consumers as much as $2 billion a year, according to a new analysis.

When big banks trim their branch networks, community banks operating in the same markets see a chance to pounce.

A $28 billion agreement with the National Community Reinvestment Coalition could help win regulatory approval for the acquisition of Michigan-based Flagstar Bancorp. The deal was originally expected to close last year.

The number of U.S. bank branches dropped by a record 2,927 last year as lenders both large and small sought ways to cut costs and keep pace with a digital transformation sweeping the finance industry.

The branches will provide services in clients’ preferred languages and employ local residents. Executives say the strategy will help M&T pull in new customers at a time when nonwhite populations are expanding.

The last three months of 2021 were strong for most lenders, which will report results soon. But the outlook for the coming months has been clouded by the spread of the newest coronavirus variant, which has many banks grappling with staffing shortages and branch restrictions.

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.

First Premier Bank in South Dakota revamped its online sign-up process to allow customers to name the banker who referred them. This helps bankers overcome their reluctance about digital accounts and lets them start relationships with new customers.

The $6.7 billion-asset Byline Bancorp plans to invest most of the savings into digital banking.

A new survey of industry executives finds substantial interest in cryptocurrencies and mergers but anxiety about competition from large technology companies.