Commercial: Page 6
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JPMorgan’s Dimon follows through on million-share sale
The CEO offloaded 178,222 shares of the bank, JPMorgan disclosed Monday, after selling 821,778 in February. The move underscores the ticking timeline toward Dimon's eventual handoff of power.
By Dan Ennis • April 16, 2024 -
Wintrust to buy Michigan’s Macatawa Bank in $510M deal
The transaction, set to close in the second half of this year, would push the Illinois bank holding company's branch total to near 200 and its assets to the brink of $60 billion.
By Dan Ennis • April 16, 2024 -
Explore the Trendline➔
hynci via Getty ImagesTrendlineCompliance in banking
A trio of fintech execs share their thoughts on partnerships with banks. This collection also explores the most pressing issues faced by three banks — TD, Capital One and Citi — heavily invested in compliance.
By Banking Dive staff -
Customers Bancorp boots CFO for ‘cause’
Carla Leibold was terminated Wednesday over a violation of company policy, a characterization she reportedly disputes. Philip Watkins was promoted to take her place, the company said.
By Rajashree Chakravarty • April 15, 2024 -
Q&A
BofA evolves AI-powered assistant toward deeper digital integration
Six years into the Erica era, customers are taking advantage of the tool's insights as often as they're asking questions of it, said Nikki Katz, the bank's head of digital.
By Caitlin Mullen • April 15, 2024 -
BNY Mellon hires Geico alum as its next people chief
Shannon Hobbs takes the reins from Alejandro Perez, who has served as interim chief people officer since Jolen Anderson moved on from the role in February.
By Gabrielle Saulsbery • April 15, 2024 -
NYCB hires new CFO, general counsel
The beleaguered Long Island-based lender brought aboard four executives Friday whose careers had crossed paths with that of newly minted CEO Joseph Otting.
By Dan Ennis • April 15, 2024 -
Provident, Lakeland deal gets final regulatory approval
Upon completion, the new Provident will be the 83rd largest insured depository firm in the U.S.; and the 7th largest in New Jersey, where it will represent approximately 4.1% of total deposits in the state.
By Gabrielle Saulsbery • April 12, 2024 -
Morgan Stanley AML probe draws SEC, OCC, Treasury focus: report
The regulators join the Federal Reserve in investigating how the bank verifies identities of wealth clients, The Wall Street Journal reported.
By Rajashree Chakravarty • April 12, 2024 -
Citi’s reorg job toll climbs to 7,000: Fraser
The bank boosted its expectation for annual savings to $1.5 billion. Meanwhile, Citi, Wells Fargo and JPMorgan Chase reported marked increases in FDIC special assessment costs.
By Caitlin Mullen • April 12, 2024 -
UBS could face stricter capital requirements
The Swiss government outlined a 209-page report Wednesday proposing stricter capital requirements for UBS, which has a balance sheet of $1.7 trillion and floated the idea of additional powers for Finma.
By Rajashree Chakravarty • April 11, 2024 -
Funding Circle gets final nod for SBA 7(a) loans amid pushback
The London-based company received final approval to proceed with the 7(a) lending program around four months after the SBA announced it would grant three new licenses.
By Rajashree Chakravarty • April 10, 2024 -
KeyBank scouts for fintech partners
The bank, which has yet to strike a fintech partnership this year, generally enters into one to two each year, said Ken Gavrity, president of Key Commercial Bank.
By Caitlin Mullen • April 10, 2024 -
Peapack-Gladstone, Dime hire away 16 teams from NYCB
The bankers are set to accelerate Peapack's push into New York and give Dime a presence in Westchester County for the first time.
By Dan Ennis • April 10, 2024 -
Citi snags BlackRock vet as CMO
Some big banks, such as Bank of America and Wells Fargo, have retired the chief marketing role in recent years. Others, like Truist, have combined it with other functions.
By Caitlin Mullen • April 10, 2024 -
Citi, TD, HSBC, Northern Trust added to West Virginia restricted list
The state warned the banks in February of consequences if they "boycott" fossil fuels. BMO and Fifth Third avoided being added to the list, the state said.
By Caitlin Mullen • April 9, 2024 -
Dimon blasts regulation, proxy advisers in annual letter
The JPMorgan Chase CEO also gave prominent space to AI, touting its potential impact in software engineering, customer service and operations, “as well as in general employee productivity."
By Caitlin Mullen • April 8, 2024 -
Cadence consolidates its executive circle
The bank's president is adding chief credit officer to his title, and the CFO will also oversee mortgage lending and wealth in a move to eliminate layers of management.
By Dan Ennis • April 5, 2024 -
KeyBank, NCRC team up on $25M pledge
The NCRC and the bank will put $8.5 million each toward grants, down payment assistance, fee waivers, product and branch expansion, and marketing that addresses alleged mortgage lending issues.
By Rajashree Chakravarty • April 4, 2024 -
Return-to-office delays burden regional bank real estate portfolios
“There's been a Frankenstein from the pandemic that's been created, and we don't know how to stop it,” Gregory Carlisle, a commercial market president at TD, said last week.
By Suman Bhattacharyya • April 3, 2024 -
Judge sides with Fed in Custodia master account ruling
Judge Scott Skavdahl said the Wyoming-based digital-asset bank failed to prove that the Fed’s board of governors had undue influence on the Kansas City Fed in its application denial.
By Gabrielle Saulsbery • April 2, 2024 -
Citizens CEO knocks higher capital requirements
“The rest of the economy is saying this has to be rethought,” CEO Bruce Van Saun said, adding the increase could scuttle lending to entrepreneurs and less affluent borrowers.
By Suman Bhattacharyya • March 29, 2024 -
Integrated Financial finds another buyer in $66M deal
Capital Bancorp agreed to buy IFH to expand its consumer and lending business. IFH’s prior deal with MVB Financial fell through in May due to delays and changing market conditions.
By Rajashree Chakravarty • March 29, 2024 -
Bank of America rolls out platform linking small businesses, CDFIs
The online platform, a partnership with the Community Reinvestment Fund, USA, provides access to around 150 local community development financial institutions and other business support organizations.
By Rajashree Chakravarty • March 28, 2024 -
Santander hires ex-Marcus chief to lead US digital transformation
Swati Bhatia becomes the second Goldman consumer-banking vet to find a landing spot in just over a week.
By Dan Ennis • March 28, 2024 -
UBS sells $8B in assets to Apollo, renegotiating Credit Suisse deal
The bank will recognize a gain of about $300 million this quarter by spinning off a securitized products business and ending an investment management arrangement Credit Suisse struck in 2022.
By Dan Ennis • March 27, 2024