Finance

Based on the pace of deals through late March, the banking industry is on track for the most branch sales since 2021. Buyer interest has mounted alongside the need to acquire deposits, following hits to funding bases last year.

With high deposit and borrowing costs persisting amid the Federal Reserve's campaign against inflation, lenders face stress on their net interest margins and the potential of troubled loans ticking up.

The Evansville, Indiana bank named an interim chief financial officer after Brendon Falconer was charged with child molestation.

Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.

Each spring during the rush of annual meetings, a handful of financial institutions take heat from shareholders who demand new strategies, management shakeups and, at times, even a sale of the company.

Federal Reserve Gov. Lisa Cook said in a speech Monday the central bank is monitoring record highs in the stock market to see if it proves to be a bubble.

A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.

A trio of Republican Congressmen stated they will investigate how the program got fast-tracked by the Biden Administration.

Some 54% of small businesses said in a recent survey that elevated rates had led to higher debt payments. And in a sign that loan demand remains soft, 37% reported delaying expansion plans or capital spending.

Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction in the Senate. Backers, including banks that invest in the funds, hope to flip the script with a third version.