Commercial: Page 3


  • saint cloud minnesota skyline
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    halbergman via Getty Images
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    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 Sept. 4, 2024
  • A cityscape photographed at dusk, featuring the global headquarters of Goldman Sachs Company in center left, set in contrast to older buildings along New York's financial district.
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    JayLazarin via Getty Images
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    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 Sept. 3, 2024
  • An AI processor on a futuristic printed circuit board Explore the Trendline
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    da-kuk via Getty Images
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    Trendline

    Artificial intelligence

    A Federal Reserve official warned about the AI “arms race” banks face against cyber threats. But what about their race against each other?

    By Banking Dive staff
  • Truist plaza is shown, with a sign reading "Truist" and the company's logo in the foreground, and the skyscraper in the background.
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    The image by Tyler Lahti is licensed under CC BY-SA 4.0
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    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 Sept. 3, 2024
  • Cannabis plant on coins stack.Marijuana growing business concept.
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    stock.adobe.com/AungMyo

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    Sponsored by Shield Compliance

    New 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
  • A shot at night of the Philadelphia skyline.
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    halbergman via Getty Images
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    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 Aug. 30, 2024
  • A skyscraper with the name "U.S. Bank" atop it is shown.
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    Courtesy of U.S. Bank
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    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 Aug. 29, 2024
  • The HSBC logo is seen outside a bank branch.
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    Matt Cardy via Getty Images
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    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 Aug. 29, 2024
  • Truist building
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    "Truist Plaza" by Tyler Lahti is licensed under CC BY-SA 2.0
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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 Aug. 28, 2024
  • Aerial view of Kansas City with a KC Streetcar present in street
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    TriggerPhoto via Getty Images
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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 Aug. 27, 2024
  • The exterior of Five Star Bank's Rancho Cordova office building is shown, with "Five Star Bank" in white letters at the top left of the building exterior.
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    Permission granted by Smriti Shakargaye
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    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 Aug. 27, 2024
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    Justin Sullivan via Getty Images
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    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 Aug. 26, 2024
  • A sign reads "Wells Fargo" outside of a Wells bank branch.
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    Michael M. Santiago / Staff via Getty Images
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    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 Aug. 20, 2024
  • The exterior of the USAA headquarters building is shown.
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    Courtesy of USAA
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    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 Aug. 20, 2024
  • Two wooden blocks on a computer keyboard that spell out "M&A"
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    Maks_Lab via Getty Images
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    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 Aug. 19, 2024
  • Downtown Albuquerque, New Mexico.
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    halbergman via Getty Images
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    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 Aug. 19, 2024
  • Person looking at ipad over store counter
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    Shutterstock.com/Hero Images on Offset

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    Sponsored by Finastra

    Open 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
  • A man smokes outside a Standard Chartered bank location.
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    Matthew Lloyd via Getty Images
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    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
  • KeyBank branch
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    Courtesy of KeyBank
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    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 Aug. 12, 2024
  • Cross River Bank
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    Permission granted by Cross River Bank
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    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 Aug. 7, 2024
  • Citibank logo
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    Justin Sullivan via Getty Images
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    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 Aug. 6, 2024
  • Silicon Valley Bank
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    Justin Sullivan via Getty Images
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    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 Aug. 5, 2024
  • The exterior of a Citizens Bank is pictured.
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    Kate Tornone/Banking Dive
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    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 Aug. 5, 2024
  • Marijuana Sales Profits
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    Douglas Rissing via Getty Images
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    Opinion

    Third-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
  • An exterior shot of a Fifth Third Bank location is shown
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    Courtesy of Fifth Third
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    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 July 31, 2024
  • The Columbus, Ohio skyline is shown, with the river in the foreground
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    halbergman via Getty Images
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    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 July 31, 2024