The agency overreached in its proposal to revamp the Community Reinvestment Act when it should have simply required branchless banks to invest more in areas where deposits are taken.

The Mississippi company said Duane Dewey, the president of its bank, will succeed Gerard Host as CEO in January.

The agency found a 40% error rate in the 2016 data submitted by the Seattle bank. In addition to the fine, the institution is required to improve its compliance systems.

The acquisition will consolidate United's position in the St. Joseph market, where both institutions are based.

The Iowa company said it will pursue a two-step acquisition to address unspecified issues raised by the Federal Reserve as part of its review of the acquisition.

The Paycheck Protection Program and encouraging digital innovation are top priorities for James Edwards, CEO of United Bank in Georgia. He also expects the American Bankers Association to promote diversity and regulatory reform in the next year.

Bank of America made three more investments in minority-focused lenders, bringing its total to 10 in the past two months.

Deposits have piled up, curtailing overdrafts and other fees. The trend could force lenders to find other ways to make money — or start cutting to the bone.

Equity Bank agreed to buy most of the assets, and assume all the deposits, of Almena State Bank.

The bank said the move will give it more flexibility for raising capital.

The assertion by former Goldman Sachs executive Gary Cohn that smaller banks won't be viable in a high-tech world overlooks their success in partnering with fintechs, according to the Independent Community Bankers of America.

The company will close nine branches over the next three months.

Agility Bank, one of two women-led groups seeking charters, is looking to open next spring.

The Dallas bank has begun encouraging larger borrowers to seek forgiveness of Paycheck Protection Program loans first as it holds out for the government to streamline the process for loans below $150,000.

The company will close eight locations, noting that customers have been quick to adopt digital channels during the coronavirus pandemic.

Southern Bancorp in Arkansas, which raised $35 million in capital from private investors, is out to prove that community development financial institutions can deliver attractive returns and fulfill their missions to help the underserved.

Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.

First City Bank of Florida had suffered “longstanding capital and asset quality issues” that were unrelated to the pandemic, the FDIC said.

The Illinois company will shutter 17 locations, or about 15% of its branches, early next year.

The New York bank, which is conducting a search for its next leader, also said it expects to report strong third-quarter earnings.