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6 banking trends to watch in 2025
Donald Trump’s return to the White House is expected to make an impression on a number of facets in banking – from regulation to M&A to crypto.
By Dan Ennis , Rajashree Chakravarty , Caitlin Mullen , Gabrielle Saulsbery • Jan. 8, 2025 -
Courtesy of Ally Financial
Ally lays off hundreds of employees
The bank also announced plans to exit the mortgage origination business this quarter. Ally is exploring strategic alternatives for its credit card business.
By Gabrielle Saulsbery • Jan. 8, 2025 -
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TrendlineM&A
President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.
By Banking Dive staff -
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Credit Suisse had more Nazi-linked accounts than previously known: probe
The Swiss bank engaged in a “pattern of obstruction” by not sharing some information during past investigations into the lender’s ties to Nazis, the Senate Budget Committee said.
By Caitlin Mullen • Jan. 6, 2025 -
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Patriot National taps new president to help in capital raise
Steven Sugarman was hired to lead the company’s restructuring efforts shortly after the company announced it was embarking on a strategic review.
By Rajashree Chakravarty • Jan. 3, 2025 -
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Bank of America buys $990M in multifamily loans from HomeStreet
HomeStreet CEO Mark Mason said the sale is the bank’s first step in returning to profitability.
By Gabrielle Saulsbery • Jan. 3, 2025 -
Anna Hrushka/Banking Dive
Kansas bank challenges $20M FDIC penalty
CBW Bank, charged with failing to maintain adequate anti-money laundering controls, has filed a lawsuit challenging the agency’s action, calling the penalty “unreasonable and unprecedented for a bank of this size.”
By Caitlin Mullen • Jan. 3, 2025 -
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Massachusetts, Michigan deals push credit union-bank record to 22
Not every deal crosses the finish line, though. Atlanta Postal Credit Union and Affinity Bank terminated their proposed combination Monday.
By Rajashree Chakravarty • Jan. 2, 2025 -
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Hawaiian Electric sells majority stake in American Savings Bank
The $450 million deal follows the Hawaiian utility company’s agreement last year to put close to $2 billion toward a joint settlement stemming from the 2023 Maui wildfires.
By Caitlin Mullen • Jan. 2, 2025 -
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TrackerA running list of BaaS banks hit with consent orders in 2024
Regulators have taken a harder look at bank-fintech partnerships. Experts said the orders highlight gaps in due diligence and monitoring related to third-party partners.
Dec. 18, 2024 -
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FDIC weighs lawsuit against ex-SVB execs
The regulator is considering taking legal action against six former officers and 11 former directors of Silicon Valley Bank over their role in the bank’s collapse and $23 billion hit to the Deposit Insurance Fund.
By Caitlin Mullen • Dec. 18, 2024 -
Ohio’s Northwest to acquire Penns Woods in $270.4M deal
Buying the holding company for Jersey Shore State Bank and Luzerne Bank will give Northwest 24 added Pennsylvania locations and create a $17 billion-asset bank.
By Dan Ennis • Dec. 18, 2024 -
Permission granted by ConnectOne
ConnectOne CEO could weigh more deals in warming M&A climate
As the bank awaits approval of its purchase of The First of Long Island, ConnectOne’s CEO anticipates enhancements to regulators’ review processes, bringing more streamlined approvals under the Trump administration.
By Caitlin Mullen • Dec. 17, 2024 -
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Flagstar makes 2nd CFO change this year
Lee Smith, the bank’s president of mortgage, will take over as chief financial officer Dec. 27, as Craig Gifford will “reengage in personal endeavors outside of banking,” Flagstar said. Gifford joined Flagstar in April.
By Dan Ennis • Dec. 17, 2024 -
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SouthState, Independent deal approved by Fed
The roughly $2 billion deal is the second banking investment or combination to which the central bank has given its blessing in as many days.
By Dan Ennis • Dec. 13, 2024 -
Spencer Platt / Staff via Getty Images
Scotiabank gets Fed’s approval to take bigger KeyBank stake
The earlier-than-expected green light will let the Canadian lender proceed to Phase 2 of its investment — a $2 billion infusion and the right to name two directors to the Cleveland bank’s board.
By Dan Ennis • Dec. 13, 2024 -
Courtesy of Ally Financial
Ally CEO indicates card business not a core focus
“In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.
By Caitlin Mullen • Dec. 13, 2024 -
Maddie Meyer via Getty Images
Massachusetts banks to combine in $562M deal
The transaction, expected to close in the second half of 2025, will create a $25 billion-asset entity and enable Independent Bank to enter New Hampshire.
By Rajashree Chakravarty • Dec. 9, 2024 -
Kiran Ridley via Getty Images
Could a French bank foil UniCredit’s play for Banco BPM?
Crédit Agricole boosted its stake in BPM — borrowing a strategy UniCredit used on Commerzbank. The French bank insists it doesn’t aim to buy BPM. The Italian government seems OK with that.
By Dan Ennis • Dec. 9, 2024 -
Justin Sullivan / Staff via Getty Images
Wells Fargo to lay off hundreds in Oregon
The Hillsboro and Salem offices, with 500 and 221 employees, respectively, might be impacted by the lender’s decision to pull out of these locations, according to a WARN notice filed Tuesday.
By Rajashree Chakravarty • Dec. 5, 2024 -
Justin Sullivan / Staff via Getty Images
HSBC names new US CEO
Lisa McGeough will step into the role Jan. 1. Meanwhile, Annabel Spring will depart from her role as global private banking and wealth CEO.
By Gabrielle Saulsbery • Dec. 5, 2024 -
Drew Angerer / Staff via Getty Images
TD shelves growth targets in wake of AML settlement
The embattled Canadian lender is undergoing a strategic review of its priorities and opportunities. “Everything is on the table,” said Raymond Chun, the bank’s current COO who will take the CEO reins in April.
By Caitlin Mullen • Dec. 5, 2024 -
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Thread Bank CEO anticipates more ‘reasonable’ regulatory environment under Trump
The lender – hit with an FDIC consent order this year – has tried to ensure its house “can withstand the storm,” rather than simply “being mad at the weather,” CEO Chris Black said.
By Caitlin Mullen • Dec. 4, 2024 -
Michael M. Santiago / Staff via Getty Images
ColumnDive Deposits: Wells Fargo turns its real estate right-sizing toward its own HQ
The bank appears to be consolidating its office footprint in San Francisco. Also reevaluating real estate: JPMorgan is expanding in Orlando, while Valley National is selling $925 million in loans.
By Dan Ennis • Dec. 4, 2024 -
Tomas Kozak via Getty Images
United Community Banks to deepen Miami-area footprint in $80M deal
The South Carolina-based lender will buy American National Bank in its sixth acquisition since 2018.
By Dan Ennis • Dec. 4, 2024 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC settles ransomware case against ICBC unit
The agency opted not to impose a fine on the U.S. unit of China's largest bank, which had difficulty updating system books and records after a 2023 cyberattack.
By Rajashree Chakravarty • Dec. 3, 2024
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