Commercial: Page 3
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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 -
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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 -
Explore the Trendline➔
Permission granted by Smriti Shakargaye
TrendlineTop 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 -
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 -
Shutterstock.com/Hero Images on Offset
Sponsored by FinastraOpen finance is creating an agile, inclusive lending infrastructure for everyone
Here’s what financial institutions need to know when it comes to harnessing the power of open finance to create more inclusive trade, as well as sustainable corporate lending.
By Michael Kinney, CRO, Retail Lending at Finastra • Aug. 19, 2024 -
Matthew Lloyd via Getty Images
StanChart unveils account linking clients’ rates to their ESG performance
The corporate banking product will be piloted in the bank’s Hong Kong and Singapore markets before a further rollout “in due course.”
By Lamar Johnson • Aug. 14, 2024 -
Courtesy of KeyBank
Scotiabank to take nearly 15% stake in KeyBank for $2.8B
The Canadian lender will purchase roughly 163 million shares of KeyCorp’s common stock in two tranches, with the final purchase to be completed in the first quarter of 2025 after the Federal Reserve’s approval.
By Rajashree Chakravarty • Aug. 12, 2024 -
Permission granted by Cross River Bank
Cross River names 3 new board members to bolster growth
The board additions come more than a year after the FDIC issued a consent order over Cross River's “unsafe and unsound” practices related to fair lending laws and regulations.
By Rajashree Chakravarty • Aug. 7, 2024 -
Justin Sullivan via Getty Images
Broker sues Citi, alleging sexual harassment by a trader
Christine O’Reilly's supervisor instructed her to “play the game” to help ICAP maintain its relationship with Citi, according to a lawsuit filed Monday.
By Rajashree Chakravarty • Aug. 6, 2024 -
Justin Sullivan via Getty Images
Judge approves plan to end SVB ex-parent’s bankruptcy
The 185-page ruling Friday did not resolve the legal battle between SVB Financial Group and the FDIC over $1.9 billion in seized funds. That case will play out in a California court.
By Rajashree Chakravarty • Aug. 5, 2024 -
Kate Tornone/Banking Dive
TD, Citizens chase middle-market opportunity
To serve midsize business clients, the Canadian lender is bolstering its presence in the southeast, while the Providence, Rhode Island-based bank has its eye on California.
By Caitlin Mullen • Aug. 5, 2024 -
Douglas Rissing via Getty Images
OpinionThird-party compliance certification can get cannabis cash safely into banks
Even if the SAFER Banking Act passes, the infrastructure exists within the cannabis industry for third parties to do the kind of accrediting the Joint Commission does for the healthcare field, says attorney F. Miles Adler.
By F. Miles Adler • Aug. 1, 2024 -
Courtesy of Fifth Third
Fifth Third’s Newline to expand Stripe’s embedded financial services
“Maybe we’re just a little too Midwest humble about it, but Newline isn’t new to this,” Newline GM Tom Bianco said. Working with Stripe, he said, reinforces that it is, and has been, “a real force.”
By Gabrielle Saulsbery • July 31, 2024 -
halbergman via Getty Images
Indiana’s German American Bank to acquire Ohio’s Heartland
The $330.2 million deal, set to close in the first quarter of 2025, would give German American entry to Ohio for the first time.
By Caitlin Mullen • July 31, 2024 -
DenisTangneyJr via Getty Images
Mississippi banks merge in $1.2B deal
Renasant will enter Louisiana and strengthen its presence in Florida by acquiring its smaller rival, The First Bank.
By Caitlin Mullen • July 30, 2024 -
Mark Makela via Getty Images
Republic First acquirer Fulton hires Valley Bank alum as next CFO
The move caps a five-month search since Fulton’s previous CFO resigned unexpectedly. Betsy Chivinski, a 30-year veteran of the bank who was named interim CFO, is retiring.
By Dan Ennis • July 29, 2024 -
Sean Pavone via Getty Images
WesBanco to buy Ohio’s Premier Financial in $959M deal
The West Virginia acquirer is raising $200 million for the transaction, set to close in the first quarter of 2025. The deal would give WesBanco 73 added branches and create a $26.9 billion-asset bank.
By Dan Ennis • July 26, 2024 -
Spencer Platt / Staff via Getty Images
NYCB offloads mortgage servicing to Mr. Cooper for $1.4B
The move reflects the lender’s efforts to become a “relationship-focused regional bank,” CEO Joseph Otting said Thursday as the bank reported earnings. He suggested more divestitures could follow.
By Caitlin Mullen • July 25, 2024 -
ultramarine5 via Getty Images
Goldman vet tapped to lead Julius Baer
Stefan Bollinger, Goldman’s co-head of private wealth management for Europe, the Middle East and Africa, will take the helm of the Swiss bank by Feb. 1, 2025.
By Caitlin Mullen • July 23, 2024 -
Alex Wong / Staff via Getty Images
Truist execs pledge expense discipline
While the bank is “fully committed” to keeping expenses flat this year compared to last, Truist is spending to bolster its payments and middle market lending teams, CEO Bill Rogers said Monday.
By Caitlin Mullen • July 22, 2024 -
Michael M. Santiago via Getty Images
JPMorgan, UBS and others see effects of IT outage
Trading was delayed at JPMorgan and Nomura, media outlets reported. UBS saw problems related to legacy systems inherited from Credit Suisse. Charles Schwab warned users not to place duplicate trades.
By Dan Ennis • July 19, 2024
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