Branch banking

The expansion program, entering its sixth year, gives the Cincinnati-based company a regional profile few of its competitors can match, CEO Tim Spence said on a conference call with analysts.

The North Carolina-based company said it expects to close about 4% of its branch network, or roughly 80 offices, by the end of the first quarter. The closures come amid Truist's $750 million cost-cutting initiative.

Overall merger-and-acquisition activity proved modest across the banking sector, but several prominent deals were reached. Read on for details of the year's biggest transactions.

The vote by workers in a New Mexico branch is the first union victory at a megabank in decades, though unionization efforts at another Wells branch took a step back.

The Cincinnati, Ohio, bank also promoted three other top executives to new roles. All of the changes will be effective in early 2024.

Across the industry, the pace of branch shutdowns slowed this year. Still, large financial institutions continued to trim their physical footprints, with two super-regional banks taking the most aggressive actions.

Xu Guojun, a former local branch head at Bank of China, was handed a life sentence over one of the Asian nation's biggest bank frauds.

The nation's largest bank has already completed many of the branch closings that can boost its earnings, leaving it with "less and less accretive opportunities to consolidate," according to a top executive.

Unions have historically had little success organizing bank employees, but recent high-profile gains for the labor movement have fueled hopes that will change. The two elections at Wells Fargo will be a test.

Diebold Nixdorf is using artificial intelligence to spot trouble proactively — a move that has already increased ATM uptime by up to 3.5%.

NCR Atleos and Diebold Nixdorf are signing deals that grant access to other industries and regions where there's demand for self-serve cash access — with additions such as artificial intelligence and better security.

Neglect of the employees who personally interact with customers can undermine even the most carefully crafted business strategy.

The two megabanks continue to shrink their branch networks, with BofA planning to close 20 locations and Wells recently shuttering 15. Both banks are also opening new branches in certain markets.

First Citizens extends its brand to CIT business lines, Discover launches TV campaign for debit account, Southern Michigan Bancorp announces leadership transition and more in the weekly banking news roundup.

Lisa Rickert and Ruth McCord, who manage branches for Nicolet National Bank, share a passion for connecting with their customers and supporting their communities.

When running a bank branch, there are certain employee behaviors that must be nonnegotiable. But that still leaves plenty of room for improvisation and creativity.

The two branches Julie Celozzi oversees for the Orlando, Florida, bank amassed $400 million of deposits in three years. Such production is often a steppingstone to bigger things, but Celozzi — who began as a part-time teller in high school — says she is "hooked" on branch banking.

Born in Venezuela, Lolita Peroza initially came to the U.S. to further her education and improve her English. Now 20 years into her banking career, she serves as a branch manager for Amerant Bank in Florida and is described by her boss as "always looking for additional opportunities to give back to the community."

The suit alleged that many off-duty cops picked up shifts at TD as security guards, only to go unpaid or wait months for their paychecks. The settlement did not include an admission of liability by the bank.

The Iowa-based bank says its two branches in Naples and Fort Myers were too small a presence to be competitive, so it decided to sell them to DFCU Financial.