Commercial: Page 12
-
Oli Scarff via Getty Images
Citi faces rebukes, new orders from regulators: report
The Federal Reserve sent three notices late last year instructing the lender to improve its data and governance, Reuters reported.
By Rajashree Chakravarty • Feb. 12, 2024 -
Oli Scarff via Getty Images
Barclays ceases direct funding of new fossil fuel projects
The London-based bank will also require all of its portfolio energy companies to report their scoped emissions reductions targets and any expansion plans by Jan. 1, 2025.
By Lamar Johnson • Feb. 12, 2024 -
Explore the Trendline➔
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 -
Spencer Platt / Staff via Getty Images
NYCB insiders bought 200K shares. Is this the show of confidence the bank needs?
One analyst highlights the bank’s willingness to “eat their own cooking.” But others have their eye on commercial real estate, NYCB’s rapid growth and a tinge of Signature deja vu.
By Dan Ennis • Feb. 12, 2024 -
Melissa Sue Gerrits via Getty Images
HSBC CEO knew of a plan to poach SVB bankers, First Citizens alleges
First Citizens filed an amended complaint in federal court Wednesday, in line with a judge's order last month to "clean up" its initial $1.2 billion lawsuit.
By Gabrielle Saulsbery • Feb. 9, 2024 -
Permission granted by Citizens Financial Group
Citizens taps JPMorgan vets to lead private bank
The Rhode Island-based lender opened its first private banking office in Boston and said it plans to open offices in Palm Beach, Florida, and Mill Valley, California, this year.
By Rajashree Chakravarty • Feb. 9, 2024 -
Spencer Platt / Staff via Getty Images
NYCB looks to trim its CRE exposure, but the market’s skeptical
The bank's stock Wednesday repeatedly triggered circuit breakers meant to keep share value from falling too quickly. Despite executives' assurances, another ratings agency downgraded the stock.
By Dan Ennis • Feb. 8, 2024 -
Chip Somodevilla via Getty Images
Yellen: CRE losses may leave banks ‘quite stressed’
Bank regulators aim to avert turmoil caused by a slump in the value of commercial real estate, Treasury Secretary Janet Yellen said in testimony to a House committee Tuesday.
By Jim Tyson • Feb. 7, 2024 -
Spencer Platt / Staff via Getty Images
NYCB enlists ex-Flagstar CEO after Moody’s downgrade
The bank named Alessandro DiNello as executive chair Wednesday and issued updated deposit and liquidity statistics to reassure investors. But some have still filed suit.
By Dan Ennis • Feb. 7, 2024 -
Chris Hondros via Getty Images
JPMorgan wants to open 500 branches in next 3 years
The bank is looking to expand in areas such as Boston, Charlotte, Minneapolis, Philadelphia and Washington D.C. — but aims to close another 30 First Republic locations.
By Rajashree Chakravarty • Feb. 6, 2024 -
Spencer Platt / Staff via Getty Images
NYCB’s risk chief left bank ahead of Q4 loss report, stock dip
The bank’s announcement that it would set aside $552 million in loan-loss reserves and cut its dividend came amid pressure from the Office of the Comptroller of the Currency, Bloomberg reported.
By Dan Ennis • Feb. 6, 2024 -
Getty Images/Staff via Getty Images
Truist sells asset-management arm in $70M deal
Toronto-based Guardian Capital has agreed to buy Sterling Capital Management, which has roughly $76 billion in assets under management and advisement.
By Gabrielle Saulsbery • Feb. 5, 2024 -
da-kuk via Getty Images
Vast Bank discontinues crypto mobile app
The Tulsa, Oklahoma-based lender told customers their digital assets would be liquidated and accounts would be closed. Customers will receive stranded assets via cashier’s check, the bank said.
By Rajashree Chakravarty • Feb. 5, 2024 -
Daniil/Adobe.stock.com
Sponsored by Shield ComplianceMargin compression and regulatory challenges and competition, oh my!
Market and regulatory changes are making lending to the cannabis industry a smart growth strategy.
By Tony Repanich • Feb. 5, 2024 -
Tanaonte via Getty Images
ColumnDive Deposits: Inside the ‘takeover attempt’ at a long-standing Black bank
An investment fund has sought since August to take control of Carver Federal Savings Bank. The bank finally fought back using its aggressor’s favorite weapon.
By Dan Ennis • Feb. 2, 2024 -
Thomas Lohnes via Getty Images
Deutsche Bank to cut 3,500 jobs by 2025
The bank also announced it would return €1.6 billion to investors in the first half of 2024. That includes a €675 million share buyback.
By Dan Ennis • Feb. 1, 2024 -
George Dodd via Getty Images
WaFd, Luther Burbank deal gets regulatory nods
The deal is now expected to close by Feb. 29 and the systems and brand integration is to be completed by the first week of March, according to the banks.
By Rajashree Chakravarty • Feb. 1, 2024 -
Justin Sullivan via Getty Images
Could the factors that took down SVB combine for a rerun in 2024?
NYCB's surprise Q4 loss may stand as a warning — or an outlier — as regional banks fight for deposits, weather real estate woes and wait for interest rates to drop.
By Dan Ennis • Jan. 31, 2024 -
Art Wager via Getty Images
California banks merge in $233.6M deal
The tie-up between Southern California Bancorp and California BanCorp, set to close in the third quarter, will create a $4.6 billion-asset company in some of the state’s strongest areas for mid-market business banking.
By Ken McCarthy • Jan. 30, 2024 -
Mario Tama via Getty Images
NY AG sues Citi over denied fraud claims
“If a bank cannot secure its customers’ accounts, they are failing in their most basic duty,” New York Attorney General Letitia James said in a statement Tuesday.
By Dan Ennis • Jan. 30, 2024 -
Permission granted by Advia Credit Union
Michigan credit union to buy NorthSide Community Bank
Advia Credit Union will expand its footprint in northeastern Illinois with the third proposed acquisition of a bank by a credit union in 2024.
By Rajashree Chakravarty • Jan. 29, 2024 -
Michael M. Santiago via Getty Images
Goldman’s global banking and markets co-chief to leave bank
Jim Esposito — a 28-year veteran who had sought to become the bank's CEO or president, The Wall Street Journal noted — co-led a unit that brought in two-thirds of Goldman's revenue last year.
By Dan Ennis • Jan. 29, 2024 -
Matt Cardy via Getty Images
HSBC launches first net-zero transition plan
The bank’s plan to slash emissions and meet climate objectives comes against a backdrop of financial institutions facing pressure to address risk and sever ties with the fossil-fuel industry.
By Zoya Mirza • Jan. 26, 2024 -
Alex Wroblewski via Getty Images
JPMorgan Chase shuffles C-suite execs
The nation's largest bank is giving a handful of top executives “broader experience” by reassigning them to roles in new businesses ahead of CEO Jamie Dimon’s eventual retirement, an analyst said.
By Gabrielle Saulsbery • Jan. 26, 2024 -
4 BMO bankers fired, 2 resign after bullying probe: report
An investment banker in the Toronto office of BMO’s mining group was subjected to homophobic slurs and targeted in person and virtually on Microsoft Teams, four sources told The Globe and Mail.
By Dan Ennis • Jan. 25, 2024 -
ultramarine5 via Getty Images
NBT CEO John Watt to step down in May
Scott Kingsley, the Norwich, New York-based bank's CFO, will assume the top role upon Watt’s retirement.
By Rajashree Chakravarty • Jan. 23, 2024
Previous
