Practice and client management

The Long Island bank is the latest financial institution to use new equity to restructure its balance sheet and unload low-yielding assets. Its stock price tumbled after the shares were priced at a considerable discount.

The bank said it redeployed proceeds from the sale into high-yielding investments. It also said it would end an employee pension plan to curb expenses.

A close result was complicated by an hour-long adjournment of the New York-based company's annual meeting that angered dissident investors and left them mulling legal action.

The Canadian bank received approval from the Federal Reserve to increase its ownership stake in KeyCorp to up to 14.9%. The investment is expected to close by the end of this month.

The Delaware-based bank filed a complaint against two companies that built a WSFS logo display in downtown Philadelphia. Part of the signage eventually broke off in what the bank called an "almost-tragedy."

Natural disasters are becoming more frequent and more severe, and victims will always require support from their banks. A plan for delivering that support needs to be in place before disaster strikes.

The Dallas bank's new CEO, Thomas Shafer, served in top roles at a number of banks that were subsequently acquired before he stepped away from the industry in 2022.