Strategic planning

The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.

The Providence, Rhode Island-based bank has steadily revamped certain parts of its strategy. Now, it will update its systems for serving customers.

The Cleveland-based bank announced changes Tuesday to its board of directors, including the appointment of a new lead independent director. Last month, activist investor HoldCo Asset Management urged the bank's board to not re-nominate its longtime lead independent director.

"We're coming into your market," PNC Chief Executive Bill Demchack said Friday. "If you're not coming into our market to come fight us, we're coming to your market to come fight you, and we're going to get some percentage of your market."

"These changes reflect adjustments we're making to ensure our staffing levels, locations and expertise align with current business needs; efficiencies we have gained through technology; and progress against our transformation work," the company said in a statement.

Last year highlighted the risks for banks in lending to nondepository financial institutions. A new approach by Trump-era regulators could change the playing field.

New Jersey-based OceanFirst Financial slid in its planned $579 million acquisition of Flushing Financial just before the end of the year. The private equity firm Warburg Pincus is also participating in the transaction.

KeyCorp CEO Chris Gorman said Tuesday that the bank has doubled its buyback plans for the fourth quarter and laid out a new long-term profitability target. The comments came a few days after HoldCo Asset Management issued a scathing report about the bank's performance.

For banks, construction projects not only produce new branches and offices, but can build an image with the public — or tear it down.

Central Bancompany said in a presentation to investors this month that it's looking to overhaul its core technology and data systems, while also hunting for a deal.

The Tacoma, Washington-based bank, which has completed two mergers since 2023, said Thursday that it will buy back up to $700 million of its own shares over the next year.

The Billings, Montana-based bank finds itself in the crosshairs of a high-profile activist investor. On Thursday, it stuck to its organic growth plan and said it isn't interested in using its excess capital to restructure its securities book.

FirstSun Capital Bancorp plans to buy First Foundation in an effort to accelerate its Southern California growth. The $785 million transaction follows FirstSun's failed takeover of Seattle-based HomeStreet.

Spring Bank CEO Barry Mann has accumulated a 6% stake in New York City-based Carver Bancorp. Carver has a history of underperforming, but Mann is optimistic about its chances under new CEO Donald Felix.

PNC CEO Bill Demchak said Wednesday that regulatory processes and enforcement actions take up half of the time that the company's board spends together. Those rules are on deck for a makeover.

The superregional bank inked its merger agreement with FirstBank just two weeks after it saw the first draft of the agreement.

Fifth Third announced it plans to buy the Dallas bank in a $10.9 billion transaction.

The Toronto-based bank announced enterprise-wide and business-specific revenue and expense targets, almost exactly one year after it was hit with more than $3 billion in fines and an asset cap for money-laundering-related blunders.

The Harrisburg, Pennsylvania, community bank agreed to acquire 1st Colonial Bancorp in Mount Laurel, New Jersey, in a $101 million deal that would help deepen its presence in greater Philadelphia.

QNB's proposed $41 million deal to acquire The Victory Bancorp in Limerick, Pennsylvania, is set to create a community bank with $2.4 billion of assets.