Deposits

Year to date Dec. 31, 2020. Dollars in thousands (Dec. 31, 2020)

The Cincinnati company's new Momentum checking and savings will give customers extra time to avoid overdraft fees, quicker access to paychecks and the option for advances on future direct deposits.

The Texas company kept allowances steady, citing lingering concerns over the pandemic and commercial real estate. Yet it plans to open 25 offices in Dallas after a similar expansion in Houston drove asset and customer growth.

At first the deal seemed an unlikely marriage of two mortgage-heavy companies. But acquiring the Michigan company would help New York Community accomplish its two chief goals — reducing deposit costs and its concentration of multifamily loans — while giving it the scale to pursue more deals.

Deposits keep flooding in, mortgage lending shows signs of cooling, and bankers can’t agree on when commercial lending will rebound. Here’s what we learned from first-quarter results.

Unlike many of its peers that are plowing funds into securities, M&T has opted to wait and see if the deposits stick around before investing them in “low-return assets," said CEO René Jones.

The Connecticut company has struggled to put deposits from its health savings account business to work across the Northeast. Buying Sterling Bancorp for $5 billion will provide Webster with new opportunities in a number of business lines, including asset-based lending and equipment finance.

BofA is awash in liquidity, but an uptick in credit card applications and heightened interest from commercial borrowers have executives hopeful that loan demand will soon rebound.

With its deal for Century Bancorp, Eastern will significantly boost its deposit share in greater Boston while gaining an entrée into several new business lines, including cannabis banking.

One in five Americans started banking with a new financial institution while dealing with economic hardships over the past year. But data suggests the relationships are tenuous and competition for customer loyalty will intensify.

The California company will gain $4 billion of low-cost deposits with its $250 million acquisition of the homeowners association services division.

MapleMark Bank in Dallas and the German fintech will let consumers choose from among three types of savings products including automated CD ladders that they can tailor to their own needs.

CUNA Mutual Group's latest Credit Union Trends Report shows consumers continue to deleverage thanks to stimulus payments and cash-out refinancing, though membership picked up slightly.

On Dec. 31, 2020. Dollars in thousands.

A new report from CUNA Mutual Group shows just how much COVID-19 and the economic slowdown impacted the credit union industry in 2020.

M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.

Todd Harper, chairman of the National Credit Union Administration, said new assessments are likely needed because of an influx of deposits, but industry groups and other board members say the agency should wait to see if the reserve ratio recovers on its own.

Year to date Sep. 30, 2020. Dollars in thousands.

Harris Simmons of Zions Bancorp. warned that excess deposits could suppress loan demand and pose an inflation threat, while Darren King of M&T tried to reassure investors that deposits will be less volatile than some fear once the economy improves.

Mexico’s central bank is set to announce Monday that it will lend money to local banks that can’t find U.S. financial institutions to take their stashes of bulk cash in dollars, according to a draft of a statement seen by Bloomberg News.