Executives at Wayne Savings Bancshares and Main Street Financial grew progressively more comfortable with the idea of a deal during six months of talks, Wayne Savings CEO James VanSickle says.

Attorney General William Tong is asking state lawmakers to grant his office more power to investigate consumer complaints after problems marred M&T Bank's integration with People's United Financial.

The Maryland bank is merging with Linkbancorp in a nearly $168 million deal that would create a $3 billion-asset company. The transaction comes just months after OceanFirst Financial and Partners nixed their merger plan, citing regulatory delays.

Net income for the country's six largest banks is expected to fall 15% in the fiscal first quarter, according to data compiled by Bloomberg. That would be the largest drop since the third quarter of 2020.

Former Mastercard chief executive Ajay Banga is a surprise pick to be the next president of the World Bankm as Washington pushes the lender to expand its financial firepower and confront global issues such as climate change and public health.

Apollo Global Management is in talks to inject the funds to support the leveraged-finance business of Credit Suisse Group's investment banking spinoff First Boston, potentially making it one of the biggest backers of the Swiss lender's revamp.

Driver Management Principal Abbott Cooper said the Dallas company failed to foresee the spate of interest rate hikes that have cut its profitability. Following the bank's latest rebuff, Cooper is threatening legal action.

The arrangement is designed to benefit commercial clients of both banks that operate on multiple continents. The companies reached the arrangement as part of the recent sale of Bank of the West.

Buckeye State Bancshares near Columbus said it would buy cross-state rival Rockhold Bancshares. Only six such deals were announced in January, making it the slowest first month of a year for M&A since the financial crisis.

The cut reverts the mortgage insurance requirement to pre-financial crisis levels.

The Moon Township-based credit union promoted Lisa Florian, its senior vice president of experience, digital strategy and marketing, to replace Ron Celaschi, who is leaving to become CEO of Patriot Federal Credit Union in Chambersburg.

The Los Angeles bank, which disclosed the layoffs in a securities filing, is undergoing a broader restructuring under its new CEO. The bank expects $30 million to $40 million of savings per year from the job cuts.

Polygon Labs, the operator of an eponymous protocol used by developers to make Ethereum transactions quicker and cheaper, has cut 20% of its workforce, or around 100 employees, as part of a consolidation of business units.

Federal Home Loan Bank of Chicago has a new CFO, while Visa's CFO plans for retirement. These stories and more in banking news this week.

Brady Torgerson, former president of First Security Bank-West, was sentenced to two years in federal prison after pleading guilty to fraud at two banks.

The findings suggest that it pays to build expertise in ESG, as some of the world's largest banks resort to deep cuts in more traditional corners of their business.

Banks expect strong global consumption of U.S. oil and gas, driven in part by the supply strain that followed Russia's invasion of Ukraine.

After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.

The bank was one of the last major holdouts to bow to expense pressures that have left no one immune.

The five-year, $50 billion agreement with community groups includes a pledge to open 25 branches in marginalized communities. TD is seeking regulatory approval for its acquisition of Memphis, Tennessee-based First Horizon.