Charter conversions

The Saginaw, Mich.-based institution has yet to reveal the new name, though management indicated that it won't include a religious reference.

The combined bank would be chartered in North Carolina, with the FDIC serving as its lead federal regulator, N.C. Banking Commissioner Ray Grace says. The merger partners had other options, including the Fed and the OCC.

The Lake Mary, Fla.-based shop will also convert to a state charter and plans to drop the phase "credit union" from its name.

In a speech in Japan, the comptroller of the currency urged overseas institutions to consider a “single regulatory framework” instead of applying to multiple states.

The Mass.-based credit union is the latest to drop its federal charter in favor of state oversight.

A proposal to let certain thrifts operate like national banks blurs the line even further between the two institution types.

Northern Credit Union in New York has shed its federal charter, while Gale CU in Illinois has converted to a community charter.

Cobalt Credit Union serves 14 counties across Nebraska and Iowa, but hopes to change to a state charter to help fuel further expansion.

The Hudson, N.Y.-based credit union hopes a community charter will better enable it to serve the high population of unbanked consumers in the region.

The bank sought to evade the consequences of compliance failures including weak scrutiny of transactions that could be tied to North Korea, the N.Y. banking superintendent said in demanding access to communications between the bank and its new supervisor, the OCC.

The move is expectedto take effect June 1.

Citizens Financial Group plans to merge its two banking charters into a single national bank. The move would make the OCC the bank's primary regulator and eliminate the costs of dealing with the FDIC and state officials.

Japan's biggest bank has been accused by New York officials of dodging tough oversight by swapping its state license for a federal one, putting itself under a U.S. agency on the front lines of President Donald Trump's push to ease financial rules.

The holding company for Union Bank — itself a unit of the Japanese giant Mitsubishi UFJ Financial Group — is on a mission to double its size and become one of the nation's 10 largest banks. Under Steve Cummings, its first-ever American CEO, MUFG Americas has expanded middle-market lending and amassed $3 billion of consumer deposits through its new online bank. Is a splashy acquisition next?

Mid-Southern Bancorp could use proceeds to make more loans or to pursue acquisitions.

Anyone who lives, works or worships within a five-county region can now join the Fort Worth, Texas-based credit union.

Delaware-based CU's new charter will allow it to branch out further into the First State, as well as into Maryland.

Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.

Bridge Bancorp, which plans to rebrand is bank as BNB Bank, also plans to boost 2018 profit by $3.3 million by closing 14% of its branches.

The $73 million CU is transitioning to a state charter to expand to other communities