Financial institutions

A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

Criticized assets are on the rise, especially in commercial portfolios, and may be the forerunner of a wave of loan losses later this year or next year unless economic conditions strengthen.

A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.

Anemic loan demand and contracting net interest margins hurt overall profitability for banks with more than $50 billion of assets last year. With the pandemic still going strong, an even more dramatic decline in revenue and profitability is likely this year.

Year to date through Mar. 31, 2020. Dollars in thousands.

Year to date through Mar. 31, 2020. Dollars in thousands.

Full-time equivalent, as of Mar. 31, 2020. Dollars in thousands.

Cypress Trust Co. has requested deposit insurance from the Federal Deposit Insurance Corp.