Proceeds from the sale provide the bank with "flexibility to evaluate and pursue various strategic initiatives to redeploy capital in support of our core banking business," Evans CEO David Nasca said.

The top five have more than $1.3 trillion in combined total assets as of March 31, 2023.

Aarthi Murali, M&T's chief customer experience officer, is now in charge of employee experience as well. Murali said she is focused on the "human experience" at all levels.

A.E.A. Federal Credit Union in Yuma said it would acquire West Valley National Bank in a bid to expand into Phoenix and Las Vegas.

A sweeping class-action suit in Miami federal court by investors who claim they lost billions in the collapse of FTX and seek to pin blame not just on Bankman-Fried and his inner circle, but also on celebrities who were paid to endorse it to the masses, as well as bankers, accountants and lawyers who propped up the empire's legitimacy.

The agency said its investigation did not find that Rose had breached data protection law when she discussed the closing of a politician's bank account with a reporter, and said it regretted giving the impression that she had. 

The Zurich-based bank posted a net loss of $785 million for the three months to September, its first quarterly loss in almost six years, as costs to absorb Credit Suisse came in at $2 billion. However, client inflows in its wealth management business — which included $3 billion of that was at Credit Suisse's wealth arm — exceeded expectations.

Goldman, which oversees $267 billion in fee-earning alternative assets, is trying to bring compensation more in line with rival investment firms as it moves toward third-party capital to fund its investing activities instead of relying on its own balance sheet.

Many banks tapped the brakes on mergers and acquisitions this year amid economic and regulatory challenges. But executives at banks with a history of dealmaking say conditions could be right for them to return to buying mode next year.

Months prior to its failure, Citizens Bank in Sac City had entered into a consent order with the Federal Deposit Insurance Corp. and the Iowa Division of Banking due to problems in its portfolio of commercial trucking loans.

Banks have been working to sell portfolios of commercial-property debt as they seek to manage their exposure to the sector. Soaring borrowing costs have weighed on valuations, with commercial real estate prices slumping 16% in September from a peak in March 2022, according to real estate analytics firm Green Street. 

Financing buyouts with "payment-in-kind" loans can preserve cash, but cost more; banks are losing out to private lenders on some of these deals.

Achieva Credit Union, which previously bought two community banks, is furthering its growth through the acquisition of an insurance company.

The island state's biggest banks — which reported lower profits in the third quarter — say it is too soon to fully assess the economic fallout from the deadly August wildfires. The rebuilding effort could boost near-term deposit growth and long-term loan demand, they said.

Equity capital markets deal flow remains tepid, hovering around $101 billion this year. That's an improvement over the $92.6 billion for all of last year, but still far below the $200 billion average in 2018 and 2019.

Amid intense regulatory scrutiny, market volatility and economic uncertainty, 10 bank M&A deals have been scrubbed so far this year after 13 were scuttled last year. Deal activity has risen slightly lately, but the new normal is hard to gauge.

The bonuses were paid to incoming Chief Executive Officer Ted Pick and his two deputies, Andy Saperstein and Dan Simkowitz. 

The FDIC had sought bids for the bank on Oct. 23, but told potential buyers two days later that it would delay making a decision until this week, said the people, who asked to not be identified because the matter isn't public.

The British bank, which generates most of its income in Asia, has been deploying more resources in the region to tap into faster-growing markets and saw a "good wealth performance," particularly in Hong Kong, it said.

Thomas Nides, who until recently was U.S. ambassador to Israel, is leaving his post as the megabank's head of lobbying, communications and community relations. He said recent events in Israel and Gaza "have had a profound effect on me, in ways that I could not have imagined."