Financial institutions

The Greenhouse Gas Reduction Fund, a major element of the IRA, provides a critical opportunity for banks to integrate green finance into their core strategies.

Though still feeling the effects of margin compression, the Columbus, Ohio-based company reported solid growth in loans and fee income and is projecting record spread income next year.

The Consumer Financial Protection Bureau's nonbank registry to address repeat corporate offenders goes live this week, but some experts have raised concerns about redundancy and costs for nonbanks.

The Pittsburgh-based company's earnings fell 4% in the third quarter from a year ago, although noninterest income climbed 11%.

River Run Bancorp near Boston said it would acquire Rollstone Bank and Trust, adding to a string of industry combinations as M&A activity gathers momentum in the second half of 2024.

Federal regulators have rewritten the rules for bank mergers in a way that will discourage the kinds of deals necessary to preserve healthy regional banks.

Only two de novo banks have opened in 2024, while more than 100 launched annually prior to the 2008 financial crisis. Experts don't agree on how to solve the problem.

The South Carolina-based bank considers itself a buyer, but has put the 17 months since announcing its last acquisition to good use, reassessing multiple business lines and upgrading technology.

Advocates for depositor-owned banks hope Warsaw Federal's $5 million capital raise will serve as a template for institutions in need of more capital than retained earnings can provide.

When it comes to delivering superior return on average equity, smaller banks frequently punch above their weight, according to a recent study by Capital Performance Group and American Banker.

The sale of the $318 million-asset portfolio comes five weeks after the Greenville, South Carolina-based company agreed to sell its investment advisory unit.

The planned Altos Bank in Los Altos cleared a big hurdle this week when state regulators approved its application to open a startup bank. Organizers are hoping for a soft opening before year-end.

The Federal Home Loan Bank of New York paid its departing director of diversity and inclusion $561,600 after an external review found "oversight issues" that led to a shake-up of the bank's human resources department; CDFI Friendly America launches an online mapping system to spotlight growth opportunities nationwide; global law firm A&O Shearman expands its U.S. debt finance team; and more in this week's banking news roundup.

Fortuna Bank in Columbus would be the third U.S. bank specifically formed to be women-owned, according to its organizers. Supporters say it's another win toward obtaining gender-equitable capital access.

The parent company of Fulton Bank announced the creation of three new management roles and promoted existing employees into those jobs. The changes follow the recent hiring of an outsider to be CFO.

The Biden Administration firmly rejects proposed cuts to key financial oversight and consumer protection agencies in the Republican-backed financial services appropriations bill for fiscal year 2025.

The Cleveland-based regional bank continues to benefit from strength in investment banking, though concerns about stalled loan growth emerged as CEO Chris Gorman described demand as tepid.