Deposits

A class action lawsuit against the bank's top executives and its auditor in connection with its 2023 failure was dismissed by a federal judge, who said the court did not have the authority to hear the case.

Regulators' decision to lift a seven-year-old cap on the size of the megabank's balance sheet will produce benefits over the long haul, but it won't result in any sudden gains, according to CFO Michael Santomassimo.

Some banks hope to use M&A as a way to play defense, either because they need to shore up their deposits or because they have aging CEOs and are looking for an exit. But investors aren't wild about the deal math.

Freedom Bank is rolling out Freedom@Work, which offers perks for employees of participating companies, as part of a wider strategy to attract more consumer deposits.

Forbright Bank was reprimanded by the FDIC last year in connection with its use of brokered deposits. To address the issue, the Maryland-based lender has built out a digital banking arm.

The Senate's version of a stablecoin regulation bill cleared a key procedural hurdle as the Senate voted 66-32 to invoke cloture on the legislation. A final vote on the Senate floor is expected within weeks.

The Pennsylvania bank, which is working to diversify its deposit base and increase its access to low-cost deposits, has brought on some 10 commercial banking teams in the last year.

The Buffalo, New York-based bank also said Monday that the commercial real estate lending market has started showing signs of life, but that the renewed competition is crimping its loan growth.

The Connecticut bank disclosed that Nasdaq waived a shareholder approval requirement so it could urgently raise more than $50 million. Patriot also said its finance chief would step down.

London-based OakNorth has amassed a sizable U.S. loan portfolio and had been seeking a U.S. charter to simplify its funding model.