Industry News
Industry News
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Executives at the super-regional bank told investors that years of investments are poised to start paying off in rising profits, but the market seemed skeptical about the company's plan forward.
September 12 -
The South Carolina-based bank considers itself a buyer, but has put the 17 months since announcing its last acquisition to good use, reassessing multiple business lines and upgrading technology.
September 12 -
As the toll of financial crime rises, the card network is attempting to boost its fraud-fighting game by buying threat intelligence firm Recorded Future.
September 12 -
Mark McArdle advised attendees to remain cautious about the reasons behind implementation of artificial intelligence.
September 10 -
The North Carolina bank lowered its medium-term target for return on tangible common equity target, reflecting the fact that the financial projections for the merger of BB&T and SunTrust Banks have not come to fruition.
September 10 -
The Maine-based bank's bid for Northway Financial was valued at $86.6 million. It is expected to be finalized in the first quarter of 2025.
September 10 -
The all-stock transaction is slated to close in the second quarter of 2025. It would create a bank with more than $15 billion of assets.
September 10 -
Profits at Cleveland-based KeyCorp have suffered due to bonds it bought when interest rates were low. But a recent investment by Canada's Scotiabank gave Key more wiggle room — an early benefit of a deal that both companies hope to build on.
September 9 -
The bank faced credit setbacks in the nation's capital and margin pressure this year. But it made a series of hires to reduce risk and diversify its loan portfolio, preparing for a new era of demand as the industry awaits interest rate cuts.
September 9 -
After hikes pinched profits across the industry, a move in the opposite direction could be the start of a more promising trend. But bankers caution that the immediate effects of a September rate cut figure to be small.
September 6 -
Other estimates suggest nonbank mortgage employment grew in July as the industry cautiously added staff to handle incremental growth in demand for loans.
September 6 -
The deal to buy the First of Long Island Corp. would create a $14 billion-asset bank with $11 billion of both loans and deposits.
September 5 -
The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through online portals.
September 5 -
Between TD Bank's $3 billion anti-money-laundering hurdle and BMO Financial Group's increased provisions for loan losses, here are the earnings highlights for non-U.S. banks.
September 5 -
New Mountain Capital is combining three companies in its portfolio: the Rawlings Group, the payment-integrity business of Apixio, and a recently acquired firm called Varis. The new entity would use AI to track health plans' payments to doctors and hospitals.
September 5 -
The top five banks in this list closed a net total of 148 branches in this time period — and 492 branches in the past 12 months.
September 5 -
Diane Offereins retired from a top job last year amid scrutiny of the card network's charges to merchants. Now she's suing Discover over its decision to cancel unvested stock worth $7 million.
September 4 -
From Citigroup's positive earnings butting up against fines from the Office of the Comptroller of the Currency to First Guaranty's 15% layoff, here are earnings highlights to be mindful of.
September 4 -
Patrick Harker, the longest serving regional reserve bank president, will leave office in June 2025. Directors at the Fed bank have started the search for his replacement.
September 4 -
REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.
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