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

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

Explore the Trendline➔

M&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

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

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

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

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

HSBC names CFO Elhedery as its next CEO

The Lebanon-born banker was seen as an early front-runner to succeed Noel Quinn. Elhedery took a sabbatical in 2022, reportedly learning Mandarin, and was named CFO when he returned.

By Dan Ennis • July 17, 2024

Webster Bank taps ex-First Republic CFO as new finance chief

Neal Holland served as CFO of First Republic for roughly seven months before JPMorgan acquired it. He also was MUFG Union’s CFO just ahead of its purchase by U.S. Bank.

By Rajashree Chakravarty • July 17, 2024

BofA projects net interest income improvement later this year

Second-quarter results for the Charlotte, North Carolina-based lender are yet another sign banks are getting bit by higher-for-longer interest rates.

By Caitlin Mullen • July 16, 2024

Missouri’s First Bank leans on ‘Goldilocks size’

The family-owned bank, which also serves customers in Illinois and California, is planning to enter the Texas market.

By Caitlin Mullen • July 15, 2024

BofA tackles digital banking’s transaction pain points

The latest CashPro platform update is designed to better address transaction-related inquiries — one of the top reasons business customers call and email the bank.

By Maura Webber Sadovi • July 15, 2024

Wells Fargo cites customer movement as net interest income drops

The bank looked for a boost from higher fees in investment banking as it aims to reduce its reliance on net interest income.

By Caitlin Mullen • July 12, 2024

Dive Deposits: It was Citi’s week and, arguably, everybody won

The bank shook off fresh penalties by reporting skyrocketing revenue in its banking unit. It’s no wonder Citi granted $41 million to its banking chief. But a rival for that job may be glad he left.

By Dan Ennis • July 12, 2024

RBC shakes up C-suite, splits personal and commercial banking

A spate of moves appears to elevate Neil McLaughlin as a contender to succeed Dave McKay as CEO, but that transition may not be soon. The bank did not disclose the future of its still-interim CFO.

By Dan Ennis • July 11, 2024

Citi vet joins Blackstone’s credit unit

Tyler Dickson was seen as a contender to lead Citi’s banking unit. He left the bank after JPMorgan alum Viswas Raghavan was hired for the role.

By Gabrielle Saulsbery • July 10, 2024

Fifth Third fined $20M over fake accounts, auto repossessions

The Cincinnati bank must compensate roughly 35,000 harmed consumers. The CFPB settlement resolves a March 2020 lawsuit that asserted the bank created fake accounts and used an aggressive “cross-sell” strategy.

By Rajashree Chakravarty • July 9, 2024

Citi urges court to dismiss ex-employee’s retaliation lawsuit

Kathleen Martin sued the bank, claiming she was fired for refusing to misreport data to the OCC. Citi claims she was fired for lacking “the requisite leadership and engagement skills” her role demands.

By Rajashree Chakravarty • July 1, 2024

JPMorgan, BofA, others eye $46M interest rate swaps settlement

Ten banks, including Goldman Sachs, Citi, Morgan Stanley and UBS, are seeking to end an eight-year case, brought by several pension funds, alleging market manipulation.

By Rajashree Chakravarty • June 28, 2024

M&T’s ex-CFO is leaving the bank

Darren King is departing “for personal reasons” after 24 years, a spokesperson for the Buffalo, New York-based bank said.

By Rajashree Chakravarty • June 27, 2024

GM subsidiary withdraws ILC charter application

The move comes just one business day after the FDIC approved its first ILC charter in four years. GM's application gained conditional approval from a Utah banking regulator June 14.

By Rajashree Chakravarty • June 25, 2024

Riverview Bank taps M&A expert as next CEO

Nicole Sherman has led 10 mergers in her career. She will replace acting head Dan Cox, who took over in September, when former CEO Kevin Lycklama was fired.

By Rajashree Chakravarty • June 24, 2024

Thrivent receives ILC charter

Following its approval for deposit insurance, the financial services company plans to convert Thrivent Federal Credit Union into online-only Thrivent Bank.

By Gabrielle Saulsbery • June 24, 2024

Citi calls carbon emissions report from environmental group ‘misleading’

Stand.earth reported last week that Citi is a leading financier of the maritime liquefied natural gas industry, but the bank takes issue with the methodology used.

By Lamar Johnson • June 24, 2024

Bank of America zeroes in on innovation with business banking app

The team behind the bank’s CashPro app aims to stay a step ahead of rivals, in part by working closely with clients on improvements, said Jennifer Sanctis, the app’s product head.

By Caitlin Mullen • June 24, 2024

First Interstate Bank CEO to step down

In Kevin Riley's nine years as CEO, the Billings, Montana-based lender expanded to a 14-state footprint and $30 billion in assets, the bank said.

By Rajashree Chakravarty • June 20, 2024