Paycheck Protection Program

Derek Ellington will replace Steve Troutner, who is stepping down for personal reasons. He will report to Mary Mack, the bank's CEO of consumer and small-business banking.

Mortgages and wealth management generated fees that gave top midtiers an edge, as the pandemic halted most lending outside of the Paycheck Protection Program.

Though the Paycheck Protection Program is winding down, the Small Business Administration has prolonged several other pandemic relief programs. Community banks can help local businesses sort through their options.

As attitudes about corporate responsibility evolve, regulators will expect banks to take a more proactive approach to environmental, social and governance issues. That means going beyond assessing climate-related risks to incorporate a focus on ethics, culture, inclusion and customer protection.

The Fed’s decision to extend a key liquidity program keeps the prospect of additional Paycheck Protection Program loans alive through July 31.

Just as small and midsize businesses had to adapt to survive the coronavirus emergency, lenders need to adopt new underwriting practices and technologies that modernize how they evaluate borrowers' creditworthiness.

Nearly a quarter of Black business owners seeking Paycheck Protection Program loans last year applied to fintechs — not far behind the percentage that turned to community banks, according to a New York Fed study. Deepening those new relationships could be a major source of growth for online lenders.

Huntingdon Valley Bank in Pennsylvania and First Savings Bank in Indiana are among the banks extending their relationships with software providers to make small-business lending more efficient after the Paycheck Protection Program is phased out.

The Small Business Administration’s sluggish pace in forgiving the biggest Paycheck Protection Program loans is straining relations between banks and some borrowers.

The best-performing banks' revenue rose at nearly twice the rate of expenses thanks to mortgage refinancing and the Paycheck Protection Program.

The Paycheck Protection Program has about $8 billion remaining, with those funds earmarked for community development financial institutions, minority depository institutions and other mission-driven lenders.

With the Paycheck Protection Program likely winding down at the end of the month, many lenders are seeing heightened demand for the Small Business Administration’s 7(a) and 504 loans.

The Portland, Ore., company has a simple growth plan: convert more Paycheck Protection Program borrowers into long-term customers.

The legislation, led by Sen. Ben Cardin, D-Md., would qualify many farmers, ranchers and self-employed Americans for more Paycheck Protection Program funds.

The time has come for the payments industry to take a long, hard look at how we market and sell enhanced pricing programs, says Clearent's Phil Ricci.

Loan growth and wealth management revenue drove a 53% increase in the San Francisco bank's profit from a year earlier.

When it was launched a year ago, the program was criticized for glitches and a focus on larger borrowers. Since then technical improvements have been made, smaller loans have been prioritized, and other changes favored by lenders have been implemented.

Bankers are concerned that the Paycheck Protection Program could run out of money before it officially ends on May 31.

Legislation the president signed this week will extend the deadline for the Paycheck Protection Program to May 31 from March 31, giving businesses two additional months to apply for loans.

Lawmakers approved a bill that will allow the Paycheck Protection Program to remain open until May 31. It was originally set to expire on March 31.