Donald Felix, who has previously worked at JPMorgan Chase and Citi, will become Carver's president and CEO on Nov. 1. He succeeds interim CEO Craig MacKay, who's been running the unprofitable bank for the past year.

The New York community bank cited the contribution of BaaS to its core financial results, evolving regulatory expectations, and the cost of talent and technology needed to scale as factors in this decision.

EverBank Financial in Florida said the deal would give it $900 million of loans and $2 billion of deposits. Should the deal close in early 2025 as planned, it would end a long saga for Sterling.

Community bankers have found that demonstrating efficiency, providing proper training and describing use cases can help get employees on board with AI products.

Anticipated interest rate cuts could help stressed borrowers, but such a shift in monetary policy may curb lending income.

Banks should embrace Kamala Harris' effort to drive sustainable, equitable economic growth. Doing so will open them up to underserved communities where they can build customer loyalty among a population primed for rapid development.

Advocates for depositor-owned banks hope Warsaw Federal's $5 million capital raise will serve as a template for institutions in need of more capital than retained earnings can provide.

When it comes to delivering superior return on average equity, smaller banks frequently punch above their weight, according to a recent study by Capital Performance Group and American Banker.

The Maine-based bank's bid for Northway Financial was valued at $86.6 million. It is expected to be finalized in the first quarter of 2025.

The all-stock transaction is slated to close in the second quarter of 2025. It would create a bank with more than $15 billion of assets.