Wealth management

S&T Bancorp is shuffling its board structure as Chairwoman Christine Toretti plans her departure; Philip Bohi is named general counsel of the American Financial Services Association; Coastal Community Bank appoints Brandon Soto as its new chief financial officer; and more in this week's banking news roundup.

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.

Comerica announced the promotion of Kristina Janssens to be its next chief risk office; Washington Trust hired James "Jim" Brown, an executive from Berkshire Bank, as its chief commercial banking officer; Citizens Financial pledged $20 million to support workforce development programs; and more in this week's banking news roundup.

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

The bank's senior leadership is seeking a solution to perhaps its biggest challenge in over a decade: A $26 billion increase in capital requirements leveled by its home government, Switzerland. 

City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.

A cohort of U.K.-based fintech founders are fundraising to launch a digital bank for high net worth individuals, known internally as "Project Arnaud."

Aron Levine, the Canadian bank's new U.S. president, said BMO intends to invest in technology and spend more on branches. The company's moves, which also include the recent combination of its U.S. businesses, are part of a plan to boost its return on equity.

The Charlotte, North Carolina-based bank, which is focusing its growth push in the Southeast, is also planning to renovate 300 existing offices as part of an effort to attract more mass-affluent customers.

As the city slowly recovers from January's wildfires, Banc of California is working with a local nonprofit group to help small businesses bounce back.

In this week's banking news roundup: Fulton Financial's Angela Snyder announces plans to retire as president of the Lancaster, Pennsylvania-based bank; Columbia Banking System in Tacoma, Washington, finalizes plans for its latest acquisition; Flagstar Financial opens its first private banking office in Florida; and more.

BNP and Barclays joined JPMorgan's investment into the Wall Street fintech's products, which help banks with optimizing their balance sheets.

In an effort to compete with the vast resources of big banks, credit unions are partnering with fintechs to deliver banking products designed for children.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

The former Goldman Sachs executive was reportedly shot accidentally by a Las Vegas man targeting the National Football League.

BankUnited hires Wells Fargo's James Mackey to be its new chief financial officer; Ponce Bank President and CEO Carlos Naudon is named chairperson of the Community Development Bankers Association; Jefferson Bank announces the retirement of longtime President and CEO Danny Butler; and more in this week's banking news roundup.

The student loan giant fell far short of Wall Street's expectations, but its leaders say President Trump's "Big Beautiful Bill" is likely to bring it billions of dollars in new business.

A huge percentage of Americans, particularly Gen Z and millennials, score poorly on financial literacy tests, with predictable consequences. AI-powered agents would help empower them.

How banks can cater to this desire to prioritize experience spending and support customers to do more of what they love