Corporate governance

The North Carolina-based credit union, which purchased the vacant bank branch last summer, serves some members across the state line but has not had a brick-and-mortar presence there until now.

First Foundation is relocating its corporate headquarters to Dallas, where the tax burden is lighter and it sees more opportunity to beef up lending, add wealth management clients and pursue acquisitions of community banks.

The onset of COVID-19 forced the industry’s largest trade group to put its Open Your Eyes campaign on hold, but nearly a full year later it’s still struggling for industry buy-in.

Scott Ford is the new president of the 1,400-employeee wealth management unit that caters to affluent clientele of the Minneapolis company.

The San Antonio-based company has promoted Paul Vincent to president of its banking unit. Neeraj Singh, previously chief risk officer for Citi’s U.S. consumer bank, has joined the parent company as chief risk officer.

The Miami bank, which called off a proposed sale to a credit union last year, recruited Ramon Rodriguez from City National Bank of Florida to oversee its local lending and global banking operations.

The Flint-based credit union is the state's third in just over one year to get the OK for an expansion allowing anyone who lives or works in the state to join.

The California company acquired Civic Financial Services, which makes loans to residential real estate investors.

Any business loan growth the industry sees this year will be closely tied to mass vaccination efforts and a broader economic recovery, meaning it may take until at least the third quarter for pent-up demand to translate into new opportunities.

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.