As part of the transaction, Scotiabank will take a 20% ownership stake in Davivienda, Colombia's third-largest bank, which has operations in Costa Rica, El Salvador, Honduras, Panama and Miami.

In his letter of resignation, Federal Reserve Vice Chair for Supervision Michael Barr said an attempt by the Trump White House to remove him could create a "distraction" for the Fed. He plans to retain his seat on the Board of Governors, which expires in 2032.

Chris Gorman and four other high-ranking KeyCorp executives have been granted a combined $16.7 million in performance-based equity awards that will vest in two years, as long as the Cleveland-based company meets certain capital requirements and earnings goals.

A recent industry survey finds most participating banks predict asset growth for 2025; Frax Finance launches a new stablecoin backed by BlackRock; Camden National closes its acquisition of Northway Financial; and more in this week's banking news roundup.

Lenders across the country promoted from within to fill top executive roles, including First International Bank & Trust in Watford City, North Dakota.

Bank of America, Citigroup, Wells Fargo and Goldman Sachs have also withdrawn from the Net-Zero Banking Alliance in the past month, as President-elect Donald Trump prepares to take office.

The Florida company completed its purchase of Independent Bank, increasing its liability sensitivity and jumping to $65 billion in assets.

Bill Ackman, founder of Pershing Square Capital Management, predicts Fannie Mae and Freddie Mac will be removed from conservatorship within the next two years.

The unprecedented number of deals came in a year when banks struggled to find merger partners in their markets.

The Honolulu-based utility sold a 90.1% stake in American Savings Bank. The deal valued the lender at $450 million.