Strategic plans

OakNorth Bank in London is eager to utilize the data it's collected from providing risk management software to American banks over the past five years. Its growth plans include eventually acquiring a charter here and making commercial real estate loans.

The Los Angeles company has sold $6 billion of loans and securities since buying PacWest in November. CEO Jared Wolff said it might get smaller still as it strives to boost profitability.

The Wall Street bank aims to double consumer deposits and triple outstanding consumer loans in five years. A checking account is slated for 2021, and more cobranded credit cards could be coming.

The company best known for student lending expanded into personal lending less than two years ago. Now it says it is refocusing on core strategic priorities.

Goldman Sachs plans to offer details into its workings to boost its stock value; while challenger banks are prospering, traditional banks still rule the roost.

Dimon doesn’t expect it to happen, but the bank is getting ready just in case; the state will require banks to disclose their relationship with gun sellers.

The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.

As management teams meet to set their priorities, there is a range of issues, including consolidation, cybersecurity and succession planning, that will likely come up.

Credit unions will be covering a range of important issues, including community development and enterprise risk management, as they review their operations.

The most profitable banks in American Banker’s annual rankings frequently produce year after year. That success requires rigorous budgeting and planning, timely analysis and more.