Financial institutions

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

Personal-wealth businesses in the asset-management arm will be consolidated under the newly christened PNC Private Bank.

Ando, a challenger bank focused on sustainability, is helping Virginia Community Capital Bank expand its 5-year-old clean energy lending program by finding a bigger pool of depositors who are eager to fund solar loans.

Mutual banks tend to combine only with fellow mutuals. Spencer Savings' deal to acquire a stock-traded rival shows how the pressure to expand is forcing some buyers to get creative.

Community development financial institutions could do more lending in low-income neighborhoods if policymakers relaxed accounting rules, increased government support and encouraged more investment from hedge funds and other nonbank lenders.

With virus cases in its home state hitting their highest level since February, the San Antonio company declined to release reserves — a route that many banks took to boost their second-quarter profits.

The Rhode Island bank is doubling down on the nation’s largest market after agreeing in May to buy dozens of branches from HSBC. Meanwhile, Investors Bancorp’s decision to sell itself underlines the challenges facing smaller regionals.

Combined with its pending acquisition of HSBC's East Coast branches, the deal would give the Rhode Island-based Citizens a top-10 deposit market share in metropolitan New York.

While federal regulators attempt to overhaul the Community Reinvestment Act for banks, Congress has shown little interest in applying it to other lenders. But recent moves in Illinois and New York have given some stakeholders hope that state lawmakers will pick up the slack.