Capital

Hildene Capital, which is pressuring CIB Marine to issue subordinated debt to redeem preferred stock, has nominated two individuals to stand for election to the company's board.

The Fortune 500 conglomerate has had discussions about merging Thrivent Credit Union, which operates independently of the company, into the bank if the charter is approved.

A group led by Stephen Gordon has received conditional approval from the Federal Deposit Insurance Corp. to open Genesis Bank.

Organizers have been working raising capital and preparing an application for about four years.

The project will deploy $20 million as secondary capital to expand economic relief and financial inclusion, and follows a $1 million project last summer aimed at helping low-income consumers in Rust Belt cities.

Flush with excess capital, Bank of Montreal, TD Bank and others say they might be in the market to do a cross-border deal.

Bank stocks have climbed because of expectations that the change of power in Washington will hasten vaccine distribution and speed the economic recovery. The boost could give executives more flexibility to pursue acquisitions or make other strategic moves.

Organizers of First Bank of Central Ohio will need to raise $20 million before it opens.

After nine months of stockpiling capital to ensure they could withstand the strains of the pandemic, Canada's biggest banks are facing a new problem: how to spend all that extra money.

The company is also looking to hire more senior lenders as it expands in markets around Los Angeles and San Diego.