The expansion-minded Hampton Roads-based lender announced plans to acquire Dogwood State Bank just weeks before its plans to close a deal for a Virginia-based competitor.

Truist Foundation will fund a multiyear economic development initiative to revitalize business corridors in five Southeastern cities; First Horizon has hired Wells Fargo's Shaun McDougall to head consumer banking; Ally Financial commits over $150 million to support workforce development; and more in this week's banking news roundup.

The 2021 executive order had called on bank regulators to apply more scrutiny to bank deals. Trump-era regulators have already started rolling back those policies.

With its acquisition of a Cleveland-area bank still in the works, the Cincinnati-based bank struck a deal that would provide its first retail presence in Chicago.

As regional bank consolidation heats up, Comerica, First Horizon and Banc of California are among the institutions that analysts see as the most likely targets for takeovers.

In this week's banking news roundup: Fulton Financial's Angela Snyder announces plans to retire as president of the Lancaster, Pennsylvania-based bank; Columbia Banking System in Tacoma, Washington, finalizes plans for its latest acquisition; Flagstar Financial opens its first private banking office in Florida; and more.

Berkshire Hills Bancorp and Brookline Bancorp are eyeing a September closing for their merger of equals, to be followed by a phased rollout of the new Beacon Bank & Trust brand.

The New York-based digital-only bank is seeking to partner with more brands after a recent deal opened the way to serving millions of AAA customers.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

Deal for Clay County Savings Bank leaves Verimore Bank primed to add market share in a fast-growing Kansas City neighborhood

Columbus-based Northwest Bancshares finalized its acquisition of Penns Woods Bancorp; Barclays becomes the second U.K.-based bank to leave the Zero Banking Alliance; BankUnited announces the appointment of Michael Mitchell as executive vice president, director of branch banking; and more in this week's banking news roundup.

Companies that lack artificial intelligence governance may spend hundreds of thousands of dollars more in responding to cyberattacks, IBM found.

The largest bank in Missouri, which completed the acquisition of Heartland Financial USA early this year, is on track to switch Heartland's systems over to UMB's systems in mid-October. The conversion should help realize "the next big slug" of expense savings, UMB's CFO said.

Investor reaction to the proposed $8.6 billion deal has been sour, with both banks' share prices falling more than 11% as of Friday afternoon. The response appeared to reflect the market's distaste for mergers of equals and the risks associated with crossing the $100 billion-asset threshold.

The Dallas-based bank is the subject of a scathing new report by HoldCo Asset Management, which says it should take advantage of current market conditions to sell itself. The investment firm accused Comerica's management of making poor decisions and failing to address its lagging stock price.

BankUnited hires Wells Fargo's James Mackey to be its new chief financial officer; Ponce Bank President and CEO Carlos Naudon is named chairperson of the Community Development Bankers Association; Jefferson Bank announces the retirement of longtime President and CEO Danny Butler; and more in this week's banking news roundup.

The two Southeast banks agreed to combine in a transaction valued at $8.6 billion. Synovus CEO Kevin Blair would be chief executive of the combined bank, but a slim majority of board members would come from Pinnacle.

"During my tenure as CEO, we have never entertained discussions regarding the sale of the company with any financial institution," CEO Michael O'Grady told analysts Wednesday. The Wall Street Journal reported last month that the two banks' CEOs had at least one conversation about a potential merger.

The credit card giant must reckon with the high costs of integration before it can start reaping the benefits from its landmark acquisition. CEO Richard Fairbank said Tuesday that those costs will exceed the company's original $2.8 billion guidance.

The Columbus, Georgia-based bank is working with a financial adviser and has recently held merger talks with at least one rival, people familiar with the matter said.