Deposits

The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck.

The San Diego bank has agreed to assume $225 million in deposits at no premium from Modern Woodmen of America, which is shuttering MWABank, its direct bank subsidiary.

Nearly 60% of people thinking about switching banks would be open to banking with a big tech company if they ever get that option. Cash incentives or existing savings accounts are big factors in consumer decisions — and things that banks could keep in mind in their efforts to recruit or retain customers.

It’s still primarily a commercial bank, but the branding campaign — CIT’s first in a dozen years — is designed to appeal to the group driving its torrid deposit growth: retail savers.

On Jun. 30, 2018. Dollars in thousands.

Zions' Harris Simmons named Banker of the Year; distilling the hopes and hang-ups around CRA reform; new grist in still ongoing debate over Operation Choke Point; and more from this week's most-read stories.

The Bridgeport, Conn., company is developing a specialty in banking technology businesses. Like so many other small regionals with ambitious growth plans, it faces a tricky balancing act: how to take creative risks without getting in over its head.

Technology is often cited as the leg up large banks have in winning over customers, but regionals are worried about the “billions and billions” bigger rivals can pour into ubiquitous ad campaigns.

Readers react to trends in public banking, weigh potential changes for brokered deposits, consider oversight of foreign banks and more.

Decades-old measures designed to rein in risky lenders are now preventing healthy banks from tapping crucial sources of funds.

From digital assistants and new branching strategies to revamped hiring processes and improved cybersecurity, these are the winners of the 2018 Best Practices Awards.

Are midsize banks in position to disrupt, or are they investing billions in technology because they can’t afford not to?

On Jun. 30, 2018. Dollars in thousands.

Silvergate is selling the branch to focus more on fintech deposits and specialty lending.

Readers respond to the burgeoning debate over brokered deposits, consider the Democratic presidential hopefuls for 2020, weigh the Consumer Financial Protection Bureau's latest regulatory efforts and more.

After a previous campaign netted disappointing results, management narrowed the time frame and upped the advertising for bigger, better results.

Year to date Jun. 30, 2018. Dollars in thousands.

As the FDIC considers reforms to its brokered deposit rules, the agency should recall the problems these funds caused in the lead-up to the S&L crisis, argues former Chairman William Isaac.

Big banks have plans to open hundreds of branches in new markets to add deposits, but smaller regionals have largely sought to hold the line on costs. Cullen/Frost Bankers' decision to double its branch count in Houston may be a sign that midsize banks are rethinking their retail strategy.

Deposits topped $100 billion during the quarter while profits climbed 34% thanks to higher loan yields and lower taxes.