Industry News
Industry News
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The embattled bank said it reviewed and then turned down a $3.25-per-share bid from Dream Chasers Capital. Carver called the offer "unrealistically low" given the bank's "intrinsic value."
February 1 -
Deutsche Bank plans to cut 3,500 jobs over the coming years as Chief Executive Officer Christian Sewing seeks to make good on a pledge to lift profitability and return more money to shareholders.
February 1 -
Nasdaq is planning to cut hundreds of jobs as it integrates software provider Adenza into its business — an acquisition it closed last year amid efforts to propel a new phase of expansion at the firm.
January 31 -
An increase in deposits in recent months is prompting banks to seek out high-quality fixed-income assets to deploy money, market watchers say. The return of Wall Street buyers has pushed spreads well below year-end levels, jump-starting CLO creation and ginning up demand for loans.
January 31 -
The Seattle-based buyer now expects to finalize the deal in February, gaining entrance to California and eclipsing $30 billion of assets. The acquisition had initially been slated to close in mid-2023.
January 31 -
In this month's roundup of popular tech news: SEC responds to successful hack on its X account, community banks get closer to fintech hubs, the Office of the Comptroller of the Currency weighs in on Blue Ridge Bancshares and more.
January 31 -
The company declined to give specific details on how many jobs were affected. It has sought to rein in costs amid efforts to boost earnings.
January 31 -
PayPal, which employed around 29,900 workers at the end of 2022, announced a similar round of cuts last January.
January 30 -
The deal involving Southern California Bancorp and California BanCorp, expected to close in the third quarter, would form a $4.6 billion-asset lender with a footprint spanning San Diego, Greater Los Angeles and the San Francisco Bay Area.
January 30 -
Bank leaders have a rosier outlook about economic conditions over the coming year than they did three months ago, according to a new survey of industry executives.
January 30 -
Acting Comptroller of the Currency Michael Hsu said Monday his agency is rescinding a rule that requires merger applications to be considered approved 15 days after a comment period's closure, part of a broader effort to rethink the bank merger process.
January 29 -
Ten months after the Raleigh, North Carolina, company acquired a large chunk of Silicon Valley Bank, it says it is seeing good progress in keeping and winning back the latter's former customers. But the ongoing slowdown in private equity and venture capital activity will challenge the unit's growth.
January 26 -
National Bankshares in Virginia agrees to acquire in-state peer, Advia Credit Union in Kalamazoo strikes deal with Illinois bank, EBANX's annual Beyond Borders study launches and more in the weekly banking news roundup.
January 26 -
Fiserv's Money Network will officially start managing the state's prepaid debit card program for distributing unemployment and disability benefits to 850,000 beneficiaries. BofA had been trying to exit its contract for several years due to financial risks.
January 26 -
The UK bank is the latest to articulate the shifting zeitgeist among financial heavyweights who are increasingly pushing back against calls to shun the fossil fuel industry. Their view is that jettisoning high-emitting clients from balance sheets won't make those emissions disappear, and that bankers therefore need to work with polluters to help them decarbonize.
January 26 -
Workers are eligible for the one-time cash grants if they earned a salary of less than $75,000 last year, and their total cash compensation was less than $85,000. The payments come amid a unionization push at the San Francisco-based megabank.
January 26 -
The Los Angeles company has sold $6 billion of loans and securities since buying PacWest in November. CEO Jared Wolff said it might get smaller still as it strives to boost profitability.
January 25 -
Activity from the Bank Term Funding Program has spiked by roughly $50 billion since November, when its rate fell below the level where institutions could earn money by keeping reserves at the central bank.
January 25 -
Williams, who died this week at age 90, was CEO of SunTrust — one of the banks that would become Truist — for many years. He also served on the boards of several organizations in Atlanta, including Coca-Cola.
January 25 - AB - Policy & Regulation
Former Federal Deposit Insurance Corp. lawyer Mark Black of Virginia pleaded guilty Tuesday to conspiring to sexually exploit children.
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