Commercial: Page 3
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"Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0
RBC names interim CFO Gibson as permanent
The move presumably puts more distance between the bank and Gibson’s predecessor, Nadine Ahn, who has sued the bank for wrongful dismissal and damages.
By Rajashree Chakravarty • Sept. 12, 2024 -
Davis Turner/Stringer via Getty Images
BofA, JPMorgan, others urged to stop financing livestock production
An open letter singles out the nation's largest banks for their support of food giants like JBS, saying lending activities undermine the sector’s environmental commitments.
By Sarah Zimmerman • Sept. 12, 2024 -
Explore the Trendlineâž”
da-kuk via Getty Images
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 -
Douglas Rissing via Getty Images
9 crucial reactions to the capital requirements preview
BofA and JPMorgan execs talk death, despair and a lack of specifics, while lawmakers and regulators appear to fall along party lines in the snowballing fight over the Basel endgame.
By Dan Ennis • Sept. 11, 2024 -
Spencer Platt / Staff via Getty Images
Citi’s chief accounting officer exits
Johnbull Okpara is leaving the bank after nearly four years to pursue another opportunity, according to an SEC filing Tuesday. Robert Walsh was named interim CAO.
By Rajashree Chakravarty • Sept. 11, 2024 -
Alex Wong / Staff via Getty Images
PNC’s Demchak wants to lean in to open banking for growth
The Pittsburgh-based lender’s CEO is wary of larger rivals building branches in every city but said he won’t pay “silly” M&A prices for a “busted” franchise.
By Caitlin Mullen • Sept. 10, 2024 -
Pichsakul Promrungsee via Getty Images
NBT to merge with in-state lender in $236M deal
The deal, set to close in the second quarter of 2025, will extend NBT’s footprint into western New York by adding 18 Evans Bank branches.
By Rajashree Chakravarty • Sept. 10, 2024 -
Permission granted by Huntington Bank
Huntington wants to open 55 branches in Carolinas over 5 years
The Columbus, Ohio-based bank aims to add 350 employees and expand on a commercial-banking effort it launched in the two states last year.
By Caitlin Mullen • Sept. 9, 2024 -
Atstock Productions via Getty Images
ConnectOne to expand in NY with $284M deal
The New Jersey-based bank aims to create a premier middle-market bank focused on the greater New York metro area following its merger with The First of Long Island Corp.
By Rajashree Chakravarty • Sept. 6, 2024 -
Spencer Platt via Getty Images
Many regionals lack clear strategy for private credit threat: analyst
Private credit firms are no longer just extending loans banks won’t, Deloitte’s Richard Rosenthal said.
By Caitlin Mullen • Sept. 6, 2024 -
Getty Images/Staff via Getty Images
REV Credit Union to buy West Virginia bank
The South Carolina-based credit union’s proposed acquisition of First Neighborhood Bank is the 15th announced whole-bank purchase by a credit union this year — one off 2022’s record of 16.
By Rajashree Chakravarty • Sept. 5, 2024 -
halbergman via Getty Images
VersaBank completes purchase of tiny Minnesota bank
The purchase gives the Canadian lender a bank charter and access to federal deposit insurance as it strives to grow its primary point-of-sale lending product.
By Gabrielle Saulsbery • Sept. 4, 2024 -
JayLazarin via Getty Images
Goldman to cut hundreds of jobs: reports
The staff reduction, tied to annual performance reviews, could affect between 1,300 and 1,800 employees, or 3% to 4% of the bank’s workforce, The Wall Street Journal reported Friday.
By Rajashree Chakravarty • Sept. 3, 2024 -
The image by Tyler Lahti is licensed under CC BY-SA 4.0
Truist approves $4.5M bonuses for CFO, top consumer banker
The stock awards were given “to support the retention of key leadership critical to taking full advantage of the business opportunities” created by the sale of Truist’s insurance arm, the bank said.
By Caitlin Mullen • Sept. 3, 2024 -
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Sponsored by Shield ComplianceNew market data highlights cannabis growth potential and banking opportunities
Cannabis market growth is creating financial opportunities for industry participants, including the banking sector.
By Tony Repanich, President and CEO of Shield Compliance • Sept. 3, 2024 -
halbergman via Getty Images
Republic First acquirer Fulton Bank to cut 111 NJ employees
“With the recent Republic Bank transaction, we brought in more than 300 team members, many with redundant roles to our existing corporate staff,” a bank spokesperson said Friday.
By Rajashree Chakravarty • Aug. 30, 2024 -
Courtesy of U.S. Bank
U.S. Bank works to simplify SMB banking, payments
To stand out from competitors, the Minneapolis-based lender has also expanded its SBA loan program over the last year, said Shruti Patel, chief product officer for business banking.
By Caitlin Mullen • Aug. 29, 2024 -
Matt Cardy via Getty Images
HSBC wealth chief, COO exit as new CEO takes reins
Nuno Matos, CEO of wealth and personal banking, had been previously considered to succeed Noel Quinn as CEO. HSBC COO John Hinshaw and HR head Elaine Arden are also leaving the bank.
By Rajashree Chakravarty • Aug. 29, 2024 -
Truist’s premier banking head exits
Allison Robinson, a two-decade veteran of the bank, has served as head of branch and premier banking since last November.
By Rajashree Chakravarty • Aug. 28, 2024 -
TriggerPhoto via Getty Images
Busey, CrossFirst to merge in $916.8M deal
The transaction, set to close in the first half of 2025, will give Busey access to six new states and lucrative markets such as Denver, Dallas and Phoenix.
By Dan Ennis • Aug. 27, 2024 -
Permission granted by Smriti Shakargaye
Five Star Bank bets on its California roots in Bay Area move
The Sacramento-area lender found San Francisco a tough market to crack. But when East Coast banks swooped in and former First Republic customers grew disenchanted, Five Star hatched a strategy.
By Caitlin Mullen • Aug. 27, 2024 -
Justin Sullivan via Getty Images
Citi fired whistleblower for underperformance, bank says
“Citi was compelled to replace [Kathleen Martin] as Data Transformation Chair — the role ... was too important for Citi to tolerate [her] underperformance,” the bank said Thursday.
By Rajashree Chakravarty • Aug. 26, 2024 -
Michael M. Santiago / Staff via Getty Images
Wells Fargo sheds majority of CRE mortgage servicing unit
The bank’s sale of most of its CRE loan servicing business to Trimont is expected to close in early 2025.
By Caitlin Mullen • Aug. 20, 2024 -
Courtesy of USAA
USAA CEO to retire in 2025
The company’s board is evaluating internal and external candidates to succeed Wayne Peacock, USAA’s first non-military chief executive.
By Caitlin Mullen • Aug. 20, 2024 -
Maks_Lab via Getty Images
Regional bank M&A ramps up
This year’s U.S. bank deal count has outpaced that of last year’s, although cumulative deal value is far lower, according to Dealogic data.
By Caitlin Mullen • Aug. 19, 2024 -
halbergman via Getty Images
Credit union to buy New Mexico bank
Albuquerque-based U.S. Eagle’s proposed acquisition of Southwest Capital Bank marks the 14th whole-bank purchase of 2024 by a credit union and the second in the past week.
By Gabrielle Saulsbery • Aug. 19, 2024
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