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First City Bank of Florida had suffered “longstanding capital and asset quality issues” that were unrelated to the pandemic, the FDIC said.October 16
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The Illinois company will shutter 17 locations, or about 15% of its branches, early next year.October 15
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The New York bank, which is conducting a search for its next leader, also said it expects to report strong third-quarter earnings.October 14
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On Jun. 30, 2020. Dollars in thousands.October 13
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The South Carolina company has agreed to buy the parent of Security Federal Bank.October 11
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Organizers of Scottsdale Community Bank must raise $16 million. The goal is to hit that goal and open by early 2021.October 8
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The company, which recently completed an audit, set aside funds to cover issues tied with a lending program it discontinued last year. The move cleared the way for Sterling to file an overdue annual report with the Securities and Exchange Commission.October 7
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Many community banks need brokered deposits to help fund loans, so policymakers must strike the right balance between promoting liquidity and guarding against reckless lending.October 7
CEOPeoples Bank
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The industry says the 2017 cut in the corporate rate helped position lenders to support the economy when the pandemic hit. But a plan proposed by Democratic nominee Joe Biden could strain banks’ capital investment and hiring, observers say.October 6
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The Small Business Administration has been covering six months of principal, interest and fees for loans that existed on Sept. 27. There are concerns the moves are masking weaknesses in lenders' 7(a) portfolios.October 6
