Practice management

Technology that was seen as best-in-class 10 years ago is practically table stakes for banks today and does not differentiate one bank from another. Branches do.

The Boston bank reported broad-based increases in loans during the fourth quarter, and said it's upbeat about its forecast for 2023. "I think the reason why we're comfortable is because we haven't changed our credit box at all," said CEO Nitin Mhatre.

Market professionals and day traders are rattled and waiting for the exchange to elaborate on what it publicly called a "manual error" involving its "disaster recovery configuration."

Almost a fifth of U.S. banks are offering savings rates of 2% or more, a huge spike from a year ago, according to new data. Banks are paying more out of fear their customers will flee to competitors offering higher rates.

Artificial intelligence now has the potential to fundamentally change customers' relationships with banks, impacting everything from onboarding to retention and upselling.

Caren Gabriel, who joined the credit union in 1985 as a staff attorney and became president and chief executive in 2004, will be succeeded by executive vice president and chief operating officer Matt Jernigan on April 8.

Alaska USA Federal Credit Union, the 18th-largest credit union in the country by assets, said the new name better reflects its worldwide member base.

Alongside the merger, Orrick is launching a unit focused on regulatory advice.

Three men are widely considered the longtime CEO's slate of replacements.

The Evansville, Indiana, company introduced a boutique-style wealth management business called 1834, which caters to high-net-worth clients.

Digital Currency Group, the struggling crypto empire whose Genesis Global Capital lending unit is trying to stave off bankruptcy, said it's suspending quarterly dividends to preserve cash.

UBS Group doesn't plan to make the large-scale job cuts seen at global peers as the business of making investments for wealthy clients continues to see robust growth, Chief Executive Ralph Hamers said.

JPMorgan Chase, Wells Fargo and the Bank of New York Mellon all announced plans to restart or increase their buybacks this year after a sharp drop-off in 2022. Bank of America's CEO also said the company is "back in the game."

The New York bank, which recorded an 8% increase in expenses last year, projects that they will rise by 5% in 2023. Other megabanks are also contending with higher costs.

Steve Kenny, who has been with the institution for more than 35 years and at the helm for roughly 13 years, stepped down from his leadership roles on Jan. 9.

AmeriServ Financial in Johnstown boosted earnings through the first nine months of 2022, but not enough to satisfy Abbott Cooper, who called the company a "prolonged underperformer."

After weaker-than-expected earnings in the third quarter of 2022, several large banks halted share repurchases in a bid to build capital.

Kevin Cole was appointed president of the $672 million-asset organization in 2021, and took on the role of chief executive after longtime leader Bill Anderson retired last year.

Margie Salazar, who has been with the El Paso institution for more than 25 years and is currently its chief financial officer, will succeed longtime chief executive Karl Murphy on Feb. 1.