Elizabeth Magennis started out as a teller in Brooklyn, New York, and is now the president of the $9.8 billion-asset ConnectOne Bank.

VersaBank plans to use the one-branch Stearns Bank Holdingford in Minnesota as a platform to expand a lucrative niche business acquiring loan and lease receivables from point-of-sale lenders.

Darren King, who has been overseeing retail and business banking, will depart from the bank in August, M&T said Wednesday. A company spokesperson cited personal reasons.

General Motors' financial arm has halted its quest for an industrial loan company charter from the FDIC, but is signaling that it will try again. Observers said the automaker may wait until after the presidential election to decide how to move forward.

Funding Circle US fought to win a coveted license to make SBA 7(a) loans only to see its London-based parent company agree to a sale before it could make its first government-guaranteed loan

Later this week, the Federal Reserve will release the results of its annual check-up on larger banks' balance sheets. Experts say there are always surprises, but that pending capital rules may have a bigger impact than the stress-test results on banks' dividend and buyback decisions.

There were 27 bank acquisitions worth $5.45 billion announced in the second quarter as of mid-June. That was more than the $5.2 billion combined value of deals announced over the previous five quarters.

See how familiar you are with potential changes to the Consumer Financial Protection Bureau's rulemaking ability, the Synapse bankruptcy, industry turnover of chief financial officers and more.

The Minneapolis-based Thrivent Financial for Lutherans received approval from the Federal Deposit Insurance Corp. on Friday for its industrial loan company application and planned merger between the institution and subsidiary Thrivent Federal Credit Union.

Vancouver, Washington's Riverview Bancorp announces Nicole Sherman as its next president and CEO; Happauge, New York-based Dime Community Bancshares is expanding its deposits strategy to Manhattan; UBS hires Guggenheim banker Ananya Das; and more in this week's banking news roundup.