Commercial banking

A month after Gunjan Kedia was named the company's president, the Minneapolis firm has promoted Stephen Philipson and Felicia La Forgia into new roles that will cover Kedia's former duties.

Sandro DiNello, who briefly led New York Community Bancorp amid turmoil earlier this year, is staying on the company's board. But Joseph Otting, the company's recently installed CEO, is taking on the executive chairman position.

The beleaguered Los Angeles-based bank reported its strongest quarterly results in more than a year, but executives at its Canadian parent company cautioned that improvements may not be linear.

The top five credit unions in our ranking have more than $267 billion in deposits as of the end of Q4 2023.

The top five credit unions in our ranking have more than $223 billion in loans and leases as of the end of Q4 2023.

The financial services industry has largely recovered from the negative shocks of the 2008 financial crisis. Still, the results from the most recent release of the Edelman Trust Barometer found that banks need to address a significant level of skepticism among consumers.

New York Community Bank's acquisition of the failed Signature Bank helped with its liquidity. But there were other considerations that decisionmakers overlooked in allowing the transaction to take place.

There were significant red flags that regulators overlooked when allowing New York Community Bank to acquire Signature Bank. Those include the fact that the company was still integrating the Flagstar Bank transaction.

SouthState Corp. plans to purchase Independent Bank Group in a $2 billion deal, marking an end to the latter bank's long run of buying companies. Chairman and CEO David Brooks pointed to a challenging interest rate environment and heightened regulatory scrutiny as reasons he decided to sell.

Executives at the Toronto-based bank said last year that they planned to add 150 branches in the United States. But when pressed on Thursday, they could not say how much they'll scale back their ambitions due to investigations over TD's anti-money laundering practices.