The hiring comes roughly a month after Ida Liu resigned and the firm embarked on a regional restructuring.

The Illinois company plans to acquire neighboring Bancorp Financial in a cash-and-stock transaction that would form the second largest community bank in the Chicago area.

The Champaign, Illinois-based bank said Jeffrey Jones stepped down from his post days before it could close its acquisition of CrossFirst Bankshares. Jones' exit was not deal related, Busey said.

Community Bankshares has launched a unit that is originating Small Business Administration 7(a) loans for itself and aims to service them for other small lenders around the country.

The New York megabank facilitates much of the U.S. government's payment network domestically and internationally, making it a major federal contractor and vulnerable to the Trump administration's scrutiny.

The top five banks in this list closed a net total of 518 branches in 2024.

Deal advisors said the Trump administration's tariff threats and the specter of inflation have given some bankers reason to pause on acquisition plans. Momentum could still mount, but uncertainty in Washington is a detriment early in the new year.

Up from $26 million in 2023, Jane Fraser's compensation last year saw the largest increase so far among heads of big U.S. banks.

The executive appointments at the Consumer Financial Protection Bureau top the list of noteworthy moves by President Donald Trump to hit banks in recent days.

The $35 billion transaction has faced pushback from critics on antitrust grounds since it was announced a year ago. The vote today puts the deal one step closer to closing.