Practice and client management

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.

Advisors predicted that more banks will do deals and those transactions will be larger in 2025 amid expectations for lighter regulatory scrutiny.

The largest U.S. bank by assets has elevated Jennifer Piepszak to chief operating officer, in preparation for Daniel Pinto's retirement in 2026. But Piepszak is not interested in being CEO, the company said.

The bank said it would acquire Bank of Idaho for $245.4 million in stock. It marked the 12th bank deal for Glacier over the past decade.

The Consumer Financial Protection Bureau issued a proposed rule that would protect consumers from abusive contract provisions modeled on the Federal Trade Commission's credit-practices rule.

High winds continue to impede firefighters' progress in the Pacific Palisades and Eaton fires.

Bankers are putting pre-established action plans for disaster recovery into motion as wildfires in Los Angeles sweep across the region.

The Federal Reserve Board on Friday approved UMB Financial's pending $2 billion acquisition of Heartland Financial.

Heightened expectations for increased economic activity could boost loan demand after a soft 2024.

Florida-based Amerant Bancorp recently restructured its securities portfolio after selling its Houston branches.

Arrow Financial in Glens Falls kept busy in December, consolidating its two subsidiary banks, expanding its board and restructuring its securities portfolio.

The Florida company completed its purchase of Independent Bank, increasing its liability sensitivity and jumping to $65 billion in assets.

The Honolulu-based utility sold a 90.1% stake in American Savings Bank. The deal valued the lender at $450 million.

Transactions grew larger and more frequent this year. As a result, aggregate value more than tripled from 2023 and topped $15 billion.

The New Canaan, Connecticut-based company agreed to allow Larry Seidman, who sits on its board, buy an additional 5% of its shares. Seidman currently owns about 9.5% of Bankwell.

The Pennsylvania-based buyer said it would pick up nearly $350 million of assets and a commercial-focused loan portfolio as part of the $54.6 million deal.

The Federal Reserve and OCC approved the company's plan to buy Independent Bank Group in Texas, putting the deal on track to close early next year as expected. In an atmosphere of M&A delays for banks, the deal is on a relatively smooth path.

The combination would create a Northeast regional bank with nearly $24 billion of assets. It would rank as the eighth-largest bank in the Boston metropolitan area by deposit market share.

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.