Financial institutions

Small Business Administration lenders have reported strong quarterly results, but those gains could evaporate later this year. Here’s why.

A flurry of activity in recent weeks has prompted chatter on earning calls about banks’ merger ambitions. While some CEOs bemoaned high asking prices, others said they are making more inquiries, identifying targets and, in some cases, closing in on deals.

Comerica, which focuses on the energy sector, reported strong payment trends last quarter, while M&T, which concentrates more on real estate, showed deterioration. The divergence reflects varying exposures to sectors hit hard by the COVID-19 recession.

Year to date through Mar. 31, 2021. Dollars in thousands.

Full-time equivalent, as of Mar. 31, 2021. Dollars in thousands.

Year to date through Mar. 31, 2021. Dollars in thousands.

First Women's Bank received approval from the Federal Deposit Insurance Corp. this week and is set to open its doors in the fall. It is the first new bank to be chartered in Illinois since 2010.

The Minneapolis company recently advised a nonprofit on a $30 million issuance that will provide financing to developers building multifamily housing and community facilities. It includes a framework, which the bank intends to deploy again, for informing investors on how the money is being used.

Recent delays may be frustrating, but the Office of the Comptroller of the Currency isn't closing the door on financial technology companies. However, applicants will have to be patient, forthright about their business plans and willing to actively engage any state or federal regulatory agencies that the OCC consults.

Native American reservations have some of the country's highest concentrations of unbanked households. But tribes are finding ways to get their members access to capital — with or without banks.