Financial institutions

The Detroit company said David Provost, former CEO of Chemical Financial, will become its CEO.

Spence’s promotion to president could signal that the Cincinnati banking company is grooming him as a potential successor to Chairman and CEO Greg Carmichael.

Bank of America made three more investments in minority-focused lenders, bringing its total to 10 in the past two months.

Full-time equivalent, as of June 30, 2020. Dollars in thousands.

Year to date through June 30, 2020. Dollars in thousands.

Deposits have piled up, curtailing overdrafts and other fees. The trend could force lenders to find other ways to make money — or start cutting to the bone.

Citigroup said Peter Charrington, global head of private banking, will leave to spend more time with family and pursue new opportunities.

Many of the Buffalo, N.Y., bank’s commercial loans have exited forbearance granted in the early days of the pandemic — except hospitality and retail, which were given longer dispensation.

The Cincinnati company, one of just a handful of lenders to reduce its cushion against bad credits in the third quarter, was grilled by analysts who suggested it was being too optimistic about the long-term effects of the pandemic recession.

Highlands Banking would be based in a community near the state's borders with Georgia and South Carolina.