Corporate finance

The company warned that the move will likely reduce its first-quarter profit by $8 million.

With an implementation deadline less than a year away, bankers will be pressed to detail how a new accounting rule for loan losses will affect reserves, earnings and capital.

A plan to join Deer Valley and Canyon State credit unions still needs approval from regulators and members of both institutions.

The Bedford, Ind.-based credit union distributed a $2.7 million dividend to members in recognition of a year that saw loan growth exceed 9%.

The San Jose, Calif.-based credit union decided to make the change because there were too many other financial institutions with a similar name.

The Houston-based institution said investments in financial technology have led to operational efficiencies that enabled it to return more than $263,000 to members.

Today’s global citizens face risks that extend far beyond crumbling highways. Although reliable physical infrastructure is necessary for economic growth, immature and anemic payment infrastructures may present another serious threat to the global economy, writes Tomas Likar, head of business development and strategy at Hyperwallet.

The Delray Beach-based credit union entered into the deal as part of a broader expansion push along Florida's Treasure Coast.

Some contracts are not "adequately" defining which party — the bank or the vendor — is responsible for managing risks, the agency said.

Growth in the KeyStone State was close to or surpassed national averages across a number of fields.

The Los Angeles bank will take a $1.4 million hit to earnings after the multifamily properties sold for less than their book value.

The flagship division is on course to miss next year’s financial projections; Investors may be using SOFR swaps as a hedge against expected volatility.

Credit unions in Arkansas and Florida argue that allowing the industry to take deposits from cities and other public entities would help with funding and control for risk.

The Scarborough, Maine-based credit union also posted a more than 4 percent uptick in membership.

The Rhode Island-based institution also finished building a 27,000-square-foot operations center and branch.

Power Financial Credit Union's deal for TransCapital Bank marks the fourth time this year a bank has agreed to be sold to a credit union in the Sunshine State.

The Association for Black Economic Power will receive an interest-free forgivable loan and a grant from the city to help pay for a retail space and equipment for the effort.

Andy Reed, who currently leads Texas People Federal Credit Union, will become president and CEO of the Dallas-based institution in May.

These programs are becoming a more common employee benefit but many lack some of the tools users need to be successful.

One credit union marketing expert offered tips on how to break down silos to create "smarketing."