Commercial
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The image by Tyler Lahti is licensed under CC BY-SA 4.0
Truist pledges $725M in Helene aid
The bank committed to helping western North Carolina communities affected by the hurricane through capital, investments and philanthropic grants with a three-year initiative.
By Rajashree Chakravarty • Nov. 22, 2024 -
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FirstSun, HomeStreet terminate merger
The deal’s collapse frees HomeStreet to pursue another suitor or ease its CRE concentration. FirstSun and HomeStreet warned last month the already-revamped proposal would need further tweaks.
By Dan Ennis • Nov. 20, 2024 -
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TrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
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Simmons First names next CEO, COO
George Makris will return as the $27 billion-asset Arkansas bank’s chief executive after a two-year gap. Meanwhile, the bank hired Christopher Van Steenberg, a First Horizon veteran, as chief operating officer.
By Rajashree Chakravarty • Nov. 14, 2024 -
Truist names next chief risk officer
Brad Bender, previously the bank’s interim chief information officer, will succeed 42-year veteran Clarke Starnes, effective immediately. Starnes will retire but stay on as a senior adviser through April.
By Dan Ennis • Nov. 14, 2024 -
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Wall Street bonuses expected to grow across all sectors, consultant finds
Investment banking debt underwriters could see a surge in annual payouts up to 35% due to revenues booming on debt issuance growth, a report published by Johnson Associates said.
By Rajashree Chakravarty • Nov. 12, 2024 -
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Michigan credit union expands Florida footprint with second bank acquisition
The latest transaction by DFCU Financial marks the 20th whole bank-credit union deal announced this year.
By Rajashree Chakravarty • Nov. 11, 2024 -
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Execs from 6 banks weigh in on impact of Trump’s election
Leaders at Citi, U.S. Bank, Fifth Third and more reflected on what the industry can likely expect — and what they’re hoping for — out of a second Trump presidency.
By Caitlin Mullen • Nov. 11, 2024 -
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ColumnDive Deposits: Morgan Stanley can’t keep everyone
The bank may have developed a reputation for persuading executives to stay. But its co-head of investment management just left to become CEO of an asset management unit at insurance giant Prudential.
By Dan Ennis • Nov. 11, 2024 -
Courtesy of PNC
PNC doubles branch expansion plans
Expanding upon branch growth plans announced earlier this year, the super regional aims to spend an additional $500 million to dig deeper in the Southeast and Southwest.
By Caitlin Mullen • Nov. 8, 2024 -
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Hawaii bank’s shareholders back acquisition by LA-based Hope
Territorial Bancorp reiterated its commitment to the Hope merger and urged its shareholders to vote in its favor after receiving a higher offer from an investor group.
By Rajashree Chakravarty • Nov. 7, 2024 -
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FirstSun looks to alter HomeStreet deal again
The firms are “discussing the pursuit of an alternative regulatory structure” after FirstSun said talks with the Fed and a Texas agency indicated the deal may not get a green light.
By Dan Ennis • Oct. 31, 2024 -
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HSBC insists it’s not gearing up to split
The bank saw profits jump 10% in the third quarter and announced a $3 billion share buyback. But analysts pressed CEO Georges Elhedery on the long-term effects of a recent reorganization.
By Dan Ennis • Oct. 29, 2024 -
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Fed cites Washington state bank embroiled in Ponzi scheme allegations
UniBank and its parent company have been named in lawsuits alleging the bank facilitated loans that were used to repay earlier investors of water and oil-and-gas firms.
By Rajashree Chakravarty • Oct. 25, 2024 -
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NYCB postpones profitability goal to 2026
The embattled bank recorded a $280 million loss for the third quarter and said it expected to post a loss for 2025, while whittling its profit forecast to 75 cents to 80 cents per share rather than $1.25.
By Caitlin Mullen • Oct. 25, 2024 -
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Intesa Sanpaolo to cut 9,000 jobs in AI-fueled push
Italy’s largest bank aims to hire 3,500 “young people,” many in hybrid contractor roles, in a “generational” shift to artificial intelligence, along with greater emphasis on wealth and insurance.
By Dan Ennis • Oct. 24, 2024 -
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Santander debuts digital bank in US
With Openbank, already established in Europe, the lender aims to accelerate its U.S. growth strategy by generating more deposits to fund its auto lending.
By Rajashree Chakravarty • Oct. 22, 2024 -
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HSBC names first woman CFO amid restructuring
The bank is simplifying its business into four spheres, but the changes will mean inevitable reductions for "duplicated" senior roles, CEO Georges Elhedery warned.
By Gabrielle Saulsbery • Oct. 22, 2024 -
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Atlantic Union Bank to buy Sandy Spring in $1.6B deal
The acquisition would give the Virginia lender’s footprint the “Golden Crescent” it has sought for years, with 53 added branches in the D.C. area and Maryland, roughly doubling its wealth business.
By Dan Ennis • Oct. 21, 2024 -
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NYCB rebrands as Flagstar Financial
The board has approved an amendment to change New York Community Bank’s name to Flagstar Financial, effective Oct. 25.
By Rajashree Chakravarty • Oct. 17, 2024 -
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Truist CEO: No ‘merger hangover’ with expenses
As the bank approaches five years since the completion of the SunTrust-BB&T merger, Truist CEO Bill Rogers sought to assure analysts Thursday that it’s on offense rather than defense.
By Caitlin Mullen • Oct. 17, 2024 -
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SoFi, Best Egg get boosts from private credit
Fortress Investment Group extended $2 billion to SoFi and led a $500 million purchase facility to Best Egg to help grow their loan platforms.
By Gabrielle Saulsbery • Oct. 16, 2024 -
(2024). [Photo]. Retrieved from Federal Reserve.
Credit unions, fintechs should face same regulations as banks: Fed’s Bowman
“[Community banks] are also subject to a broader range of restrictions imposed by regulatory requirements…the disparity in the legal framework can have a distortive effect on competition,” Bowman said.
By Rajashree Chakravarty • Oct. 15, 2024 -
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Citi ‘can walk and chew gum at the same time’: Fraser
CEO Jane Fraser cited the bank’s ability to cut expenses while addressing the data, risk and control flaws regulators have flagged.
By Caitlin Mullen • Oct. 15, 2024 -
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Goldman profits soar 45% year over year
CEO David Solomon touted an “improving operating environment” and reported gains in wealth management and investment banking fees. But its Platform Solutions business saw a 42% quarterly drop.
By Gabrielle Saulsbery • Oct. 15, 2024 -
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Associated Bank takes ‘needs-based’ approach to growth
The Wisconsin lender’s sales team has retrained to have “more holistic conversations” with clients and use “advice and guidance” as its bedrock, an executive said.
By Caitlin Mullen • Oct. 14, 2024
