Financial institutions

Despite clear evidence to the contrary, the mortgage insurer continues to insist that credit unions have the same risk profile as nonbank lenders. It’s now threatening to exclude nearly a quarter of credit unions from being qualified issuers of the securities it backs.

Banks are traditionally the target of anti-money-laundering regulations and law enforcement’s efforts to crack down on illicit finance. As the cryptocurrency sector grows, policymakers may subject it to customer identification requirements and other measures, analysts say.

On Mar. 31, 2021. Dollars in thousands.

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.

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.