Partners drop Silvergate amid delays, financial review

Coinbase, Paxos and others reconsider their relationship with the crypto-heavy bank after it delays filing its 10-K document as an audit wraps up.

By Gabrielle Saulsbery • March 2, 2023

First Fidelity Bank enters BaaS space with Episode Six partnership

Unifimoney, a San Francisco-based multi-asset digital wealth management platform, is the first customer to go live with the new BaaS solution.

By Rajashree Chakravarty • March 1, 2023

Explore the Trendline➔

Top 5 stories from Banking Dive

Everything old is new again. One year after Citi’s reorganization, progress comes in “fits and starts.” Meanwhile, a contentious proposed rule is generating “voluminous” feedback after 14 months.

By Banking Dive staff

First Horizon warns TD deal may be in limbo

The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. That could fuel analysts’ questions at TD’s earnings call Thursday.

By Dan Ennis • March 1, 2023

Black banks have dwindled in number, but a new one’s coming

Redemption Holding Co. purchased Utah-based Holladay Bank and Trust. Pending regulatory approval, it'll be one of 17 Black-owned banks.

By Gabrielle Saulsbery • March 1, 2023

Goldman pins its hopes on asset and wealth management

The bank is “considering strategic alternatives” to its consumer business, CEO David Solomon said at Goldman's investor day, without elaborating.

By Dan Ennis • Feb. 28, 2023

Connecticut AG seeks more authority after M&T-People’s United deal

The state's top lawyer said his office received more than 400 complaints following the acquisition. A proposed bill would let him look at them further.

By Gabrielle Saulsbery • Feb. 27, 2023

Partners Bank finds a new buyer in LinkBank

The transaction, expected to close in the third quarter, positions LinkBank to extend into Delaware, Maryland, New Jersey and Virginia, and gives Partners a boost after a tie-up with OceanFirst fell apart.

By Rajashree Chakravarty • Feb. 27, 2023

Regulators sign off on TD deal. No, the other one.

While much of the attention surrounding TD's U.S. expansion has centered on the First Horizon transaction, its $1.3 billion tie-up with the brokerage Cowen has plugged along on schedule.

By Dan Ennis • Feb. 27, 2023

At Goldman, Fridays are for radical honesty

Looking ahead to its investor day Tuesday, the bank detailed a shortfall in set-asides and an expansion into a probe of credit-card practices.

By Dan Ennis • Feb. 24, 2023

US Virgin Islands, Epstein plaintiff seek more documents from JPMorgan

Plaintiffs allege CEO Jamie Dimon was involved in the bank’s decision to maintain a relationship with the financier, who died awaiting trial on sex-trafficking charges.

By Gabrielle Saulsbery • Feb. 24, 2023

Wells Fargo cuts 500 more jobs in home lending

Cuts include a few top producers who attended a company-sponsored sales conference this month, as well as bankers who operated in areas outside of the bank’s branch footprint, according to CNBC.

By Dan Ennis • Feb. 23, 2023

Cannabis banking fintech Dama Financial taps new CEO

Patrick O'Boyle will be responsible for overseeing Dama Financial's strategic direction, growth initiatives and the launch of new products, the firm said.

By Anna Hrushka • Feb. 22, 2023

Citi boosts Fraser’s pay 8.9% to $24.5M

Fraser stands as the only CEO at a top-six U.S. bank to see a hike in compensation for 2022. She is tied with Wells Fargo’s Charlie Scharf for the lowest-paid among them.

By Dan Ennis • Feb. 22, 2023

PacWest to trim 200 mortgage jobs at Civic Financial

The bank expects to save between $30 million and $40 million with its layoffs, which will start next week and are on-trend for the sector amid rising mortgage rates.

By Gabrielle Saulsbery • Feb. 22, 2023

Is HSBC’s earnings report meant for an audience of one?

Its CEO cites a re-globalization that de-emphasizes Asia but still floats areas of growth on the continent and dangles an extra dividend perhaps aimed at quelling a breakup push from investor Ping An.

By Dan Ennis • Feb. 21, 2023

Huntington CEO details reorganization plan

The bank is consolidating three business arms to help it derive more revenue from wealth management, which CEO Steve Steinour calls a “big growth area.”

By Anna Hrushka • Feb. 17, 2023

Bank of America plans 200 investment-banking job cuts: report

A bank spokesperson last month said the Charlotte, North Carolina-based lender was not expecting "widespread" cuts.

By Dan Ennis • Feb. 16, 2023

TD lays out 5-year, $50B community benefits plan tied to merger

The bank pledged to open at least 25 new branches and 25 ATMs in low- to moderate-income or majority-nonwhite markets, and to boost residential mortgage loans by 65% for LMI and nonwhite borrowers.

By Dan Ennis • Feb. 16, 2023

Truist to sell 20% of insurance brokerage unit for $1.95B

The deal paves the way for future growth and enhances the competitiveness of the bank’s insurance business amid a rapidly consolidating industry, CEO Bill Rogers said.

By Anna Hrushka • Feb. 16, 2023

FTX-exposed Signature Bank’s CEO moves to advisory role

The bank's COO will first take the role of president March 1, and eventually relieve Joseph DePaolo of his CEO title.

By Gabrielle Saulsbery • Feb. 16, 2023

Latino-first neobank Comun raises $4.5M in seed funding

The challenger bank offers traditional financial services, including access to a checking account connected to a physical and virtual debit card, direct deposits for payroll and 24/7 support.

By Rajashree Chakravarty • Feb. 15, 2023

First Miami Bank to be acquired for roughly $116M

This would mark United Community Banks’ second acquisition of 2023. Its purchase of Huntsville, Alabama-based Progress Financial closed in January.

By Gabrielle Saulsbery • Feb. 15, 2023

Delays in merger review should not become the norm: Fed’s Bowman

The 11 merger applications that received adverse public comments in the first half of 2022 were approved in 197 days, on average, compared with 65 days for those with no public comments, Bowman said.

By Rajashree Chakravarty • Feb. 14, 2023

TD launches credit program for Black entrepreneurs

The Canadian bank’s latest effort to expand credit access to an underserved group will likely be touted to regulators and community groups as it looks to gain support ahead of its planned acquisition of First Horizon.

By Anna Hrushka • Feb. 14, 2023

Key merger metric doesn’t account for online banking, nonbanks: OCC

The Herfindahl-Hirschman Index, which measures a bank’s market presence based on deposit share, is becoming a less effective predictor of competition across product lines, the agency’s chief counsel said.

By Anna Hrushka • Feb. 13, 2023