Commercial lending

LoanHero, an online lender specializing in consumer loans at the cash register, announced that it has raised $2.5 million in seed funding.

Online lenders like Aprenita, Payability and Pollen VC have all launched within the last 13 months to fill a need they say is not being met by traditional banks, and only partially by venture capitalists and invoice-financing companies.

Still facing revenue challenges, Regions, PNC and U.S. Bank vowed to reduce overhead in 2016. The cuts are less about bolstering short-term returns than funding investments in cutting-edge technologies or new products and services to remain competitive.

Regions Financial in Birmingham, Ala., reported double-digit earnings growth in the fourth quarter as gains in both fee income and loan balances helped to offset a sharply higher loan-loss provision related to weakness in its energy portfolio.

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Bank chiefs should brace for a barrage of questions about economic uncertainty, if JPMorgan Chase's experience after releasing fourth-quarter results is any indication. Double-digit increases in loans and profits were not enough to stave off questions about the odds of recession, energy risks and adequacy of reserves.

Umpqua Holdings in Portland, Ore., has hired Tory Nixon, who played for the San Francisco 49ers in the 1980s, as head of commercial banking.

Fundation Group, an online small-business lender, has hired an industry veteran as its first chief operating officer.

Eagle Bancorp in Bethesda, Md., has hired four bankers to a develop a business line making Federal Housing Administration-insured loans for multifamily rental properties.

Live Oak Bancshares in Wilmington, N.C., one of the largest 7(a) program lenders in the U.S. last year, has promoted Greg Thompson to chief operating officer.