Failures

New York Community Bank's acquisition of the failed Signature Bank helped with its liquidity. But there were other considerations that decisionmakers overlooked in allowing the transaction to take place.

There were significant red flags that regulators overlooked when allowing New York Community Bank to acquire Signature Bank. Those include the fact that the company was still integrating the Flagstar Bank transaction.

Investors are facing recent pressure after Republic First's collapse, allegations of criminal activity by an executive at Old National and a pending CFPB rule affecting credit card fees.

The first bank failure of 2024 will result in the Lancaster, Pennsylvania-based Fulton nearly doubling deposits in Philadelphia, a market it has viewed as strategically important for several years.

The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.

A report reveals Heartland Tri-State Bank's failure last year was due to its CEO being ensnared in a sophisticated investment scam that is taking more victims.

Federal prosecutors allege that Shan Hanes, the former CEO of the now defunct Heartland Tri-State Bank, illegally took money from customers to fund cryptocurrency investments. He could face up to 30 years in prison if convicted.

Months prior to its failure, Citizens Bank in Sac City had entered into a consent order with the Federal Deposit Insurance Corp. and the Iowa Division of Banking due to problems in its portfolio of commercial trucking loans.

The economic tremors caused by the COVID-19 crisis led some analysts to argue that it was only a matter of time before some financial institutions collapsed. But thanks to government stimulus, the industry’s ample capital levels and moderate risk exposure, bank closings have become a rarity.

The $6.4 million-asset institution was placed in conservatorship in January and is the first credit union to be liquidated this year.