Corporate governance

Bankers in Florida and Texas are dusting off their disaster-recovery playbooks, which focus on retrieving customers' valuables, ensuring employee safety and minimizing the bank's own legal exposure.

Banks could be busy supplying credit to manufacturers, hotels, multifamily developers and other businesses that will be helping residents get their lives back on track after two fierce storms.

Approximately two-thirds of the state's 136 credit unions suffered damage from high winds and flood waters, but CUs are reopening their doors to members and staff — though some are still without power and internet access.

Chemical Financial's decision to shutter nearly 40 branches and cut more than 200 jobs is a result of improved technology and an effort to become more efficient after years of pursuing acquisitions.

The Michigan company said the branch closures will save it $20 million a year. It also plans to devote fewer resources to indirect auto, where returns have trailed other lending categories.

As hurricanes wreaked havoc over the last couple of weeks, several banking-related narratives have emerged. Here is a look at those stories.

The hurricane was expected by many to deliver catastrophe. Instead, bankers are largely looking to restore power and confirm the status of employees.

Along with activating CUAid for Irma, an online community for credit union disaster-response efforts has also been launched.

The agency has earmarked all funds from a Hurricane Harvey recovery package for direct relief, despite calls to get more bankers involved in the process. It remains to be seen how the agency will handle the cleanup for Hurricane Irma.

Credit unions across the state are closed today, but the storm also brought out some of the best the industry has to offer.

Associated's agreement to buy Whitnell & Co. comes just weeks after the company lined up its first bank deal since the financial crisis.

Texas bankers recovering from Hurricane Harvey are reflecting on their experiences, identifying what went right and what they could do better. Their views could prove useful to Florida bankers hurriedly preparing for the nation's next big hurricane.

The credit union insurer is advising CUs in the southeastern U.S. on how they can best prep for the historic storm bearing down on South Florida.

Spanish-speaking consumers have long been touted as one of the biggest potential growth markets for credit unions, and a demographic that needs better access to safe and affordable banking services.

Serving on multiple boards while holding full-time executive positions weakens a director’s ability to fulfill the governance demands at complex institutions.

Credit unions are advised to stay in touch with local authorities and provide emergency contact information to examiners in advance of the storm.

Jeffrey Seabold, Banc of California’s former vice chairman, alleges that he and ex-CEO Steven Sugarman were scapegoats for inappropriate behavior by certain directors and that the company manipulated its first-quarter earnings.

BankGuam, which is looking to sell $20 million of common stock, warned investors that North Korea represents a unique risk to its stock price.

The partnership -- the first of its kind for either organization -- is expected to bring new opportunities to First Tech members and the surrounding community

Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.