Industry News
Industry News
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ELGA Credit Union said it plans to acquire Marine Bank & Trust in an all-cash deal. The combination marks the 12th of the year involving a credit union buying a bank, keeping the industry on pace to establish a new record for such deals.
June 5 -
The compensation committees at PNC, BOK Financial and a few other banks decided that their top leaders performed well amid industry challenges, and rewarded them for it.
June 4 -
Sandro DiNello, who briefly led New York Community Bancorp amid turmoil earlier this year, is staying on the company's board. But Joseph Otting, the company's recently installed CEO, is taking on the executive chairman position.
June 4 -
The Indiana bank said it struck a $40 million cash deal to sell its insurance brokerage to the Hilb Group. It joined a growing number of lenders announcing such transactions.
June 4 -
Total direct compensation for the CEOs of large and midsize banks declined by 6.6% in 2023, and annual bonus payouts tumbled by 30%. The decreases came as banks grappled with the fallout from last spring's banking crisis.
June 3 -
In this month's roundup of top tech news: A firsthand look at the impact of Zelle fraud, the Supreme Court upholds the Consumer Financial Protection Bureau's funding, Walmart's split from Capital One and more.
June 3 -
In this month's roundup of top banking news: a Supreme Court ruling on CFPB funding, TD Bank's money laundering woes, an FDIC workplace probe reveals a culture of misconduct and more.
June 3 -
In this edition of the American Banker news quiz, test yourself on topics such as Visa and Mastercard's shift away from relying on interchange, the Federal Reserve's efforts for balance sheet reduction, which financial services sector consumers trust the most and more.
June 3 -
The bank backed off its ban on lending to companies that make assault-style guns used for non-military purposes. Instead, the firm will now make such decisions on a case-by-case basis with senior risk officers.
May 31 -
Atlanta Postal Credit Union's bid to acquire Affinity Bank marked the 11th deal overall this year involving a credit union buying a bank, matching the total for all of 2023. Separately, members voted against the merger of two credit unions in Indiana.
May 31 -
The announcement comes after weeks of criticism from the bureau's director over fees including title insurance and credit scores.
May 30 -
Gesa Credit Union in Washington agreed to acquire a 103-year-old community bank in Centralia, as it eyes opportunities for additional growth in the Pacific Northwest. In the District of Columbia, a bank group is calling for exit fees on banks selling to tax-exempt credit unions.
May 30 -
Leaders of financial institutions and industry trade groups are working together to provide impacted communities across the U.S. with basic necessities and quick, online emergency loans.
May 29 -
First Federal Bank of Kansas City finalized a plan to reorganize its corporate structure; Regions Bank in Birmingham, Alabama, was one of 10 to win the "President's 'E' Award for Export Service"; Rhode Island-based Citizens Financial Group named Jim Weiss as Florida market president; and more in this week's banking news roundup.
May 24 -
New York Community Bank's acquisition of the failed Signature Bank helped with its liquidity. But there were other considerations that decisionmakers overlooked in allowing the transaction to take place.
May 24 -
There were significant red flags that regulators overlooked when allowing New York Community Bank to acquire Signature Bank. Those include the fact that the company was still integrating the Flagstar Bank transaction.
May 24 -
SouthState Corp. plans to purchase Independent Bank Group in a $2 billion deal, marking an end to the latter bank's long run of buying companies. Chairman and CEO David Brooks pointed to a challenging interest rate environment and heightened regulatory scrutiny as reasons he decided to sell.
May 23 -
In this week's edition of the American Banker news quiz, see how well you know current items about the Federal Deposit Insurance Corporation, mergers and acquisitions, the Consumer Financial Protection Bureau and more.
May 23 -
The outgoing CEO, now executive chairman of the Wall Street firm, told a conference at the Federal Reserve Bank of New York this week that cultural values are a critical element in any prospective merger or acquisition deal.
May 23 -
Two years on, U.K. regulators on Wednesday revealed the result of their long-running probe into Citigroup's actions that day as they saddled the bank with £61.6 million ($78 million) in penalties for the mistake.
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