Capital

Craft Bank, which plans to open this summer, is in the final stage of raising $30 million in initial capital.

The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."

The Ohio Democrat's criticism of Rodney Hood, chairman of the National Credit Union Administration, echoed complaints from bankers that the regulator was using the chaos from the pandemic to push through changes.

The regional bank’s $240 million investment from 1995 is now worth $17 billion, which it could use to fund acquisitions; the debt deal will count towards the German bank’s capital buffers.

The Pittsburgh company has owned a 22% position in the money manager since 1995.

The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic.

Organizers representing five tribes aim to create a financial institution to serve their members.

Seneca-Cayuga Bancorp's capital levels have fallen steadily since peaking in 2013.

The Wisconsin regional said the funds will support loan growth and its dividend policy as well as create an added capital buffer.

Organizers of Rockpoint Bank still need to raise $30 million before opening.