Financial institutions

The payments processor Square has big plans in banking — but even after filing an application to charter an industrial loan company, it still doesn’t see itself as a competitor to most financial institutions.

The Connecticut bank's president, John Ciulla, will succeed longtime CEO Jim Smith, who is retiring after three decades on the job.

Florida and Texas are normally major sources of mergers, but bankers in those states likely will take a break to assess damage from the hurricanes before returning to dealmaking.

The third-largest U.S. metropolis is entrusting $20 million to Illinois Service Federal Savings & Loan Association, the city’s treasurer, Kurt Summers, announced Monday.

David Dotherow, CEO of the newly formed Winter Park National Bank, stresses the need for strong management and a straightforward business plan when applying for a charter.

The Independent Community Bankers of America had initially called for a moratorium in response to SoFi's application, and says now that Square's bid "has significantly increased our concerns."

Banks could be busy supplying credit to manufacturers, hotels, multifamily developers and other businesses that will be helping residents get their lives back on track after two fierce storms.

Chemical Financial's decision to shutter nearly 40 branches and cut more than 200 jobs is a result of improved technology and an effort to become more efficient after years of pursuing acquisitions.

A few years after co-founding Level One Bank, CEO Patrick Fehring decided to survey his employees. It turned into a wake-up call.

Parents of IBs are exempt from bank holding company supervision by the central bank, but that is a strength, not a weakness.

A New Jersey politician has downplayed his Goldman Sachs career. The move shows that bankers have a ways to go rebuilding credibility with voters, though factors such as party affiliation, location and the type of banking career also matter.

The hurricane was expected by many to deliver catastrophe. Instead, bankers are largely looking to restore power and confirm the status of employees.

The agency has earmarked all funds from a Hurricane Harvey recovery package for direct relief, despite calls to get more bankers involved in the process. It remains to be seen how the agency will handle the cleanup for Hurricane Irma.

Square became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

Associated's agreement to buy Whitnell & Co. comes just weeks after the company lined up its first bank deal since the financial crisis.

Many of the arguments in this debate have less to do with the applicants’ qualifications than with traditional banks’ fear of new, innovative competitors.

Texas bankers recovering from Hurricane Harvey are reflecting on their experiences, identifying what went right and what they could do better. Their views could prove useful to Florida bankers hurriedly preparing for the nation's next big hurricane.

Readers opine on Square’s applying for an industrial loan company charter, the Federal Reserve’s role in faster payments, assumptions about operational security, and more.

Company is third fintech firm in the past few months to seek its own bank charter; vice chair’s departure gives Trump four vacancies to fill on the Federal Reserve Board.

The company's application, which is expected to be announced as early as Thursday, comes after the online lender SoFi applied in June for an industrial loan charter. The bank is expected to be led by a former Green Dot executive.