Retail
-
Courtesy of U.S. Bank
U.S. Bank reaches its proving ground
The super-regional is at an “inflection point” after recent acquisitions and tech updates, CEO Andy Cecere said at the bank’s investor day. One analyst, however, is calling for “a new set of eyes at the top.”
By Caitlin Mullen • Sept. 13, 2024 -
Douglas Rissing via Getty Images
9 crucial reactions to the capital requirements preview
BofA and JPMorgan execs talk death, despair and a lack of specifics, while lawmakers and regulators appear to fall along party lines in the snowballing fight over the Basel endgame.
By Dan Ennis • Sept. 11, 2024 -
Explore the Trendline➔
Permission granted by O’Malley Hansen Communications
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 -
Alex Wong / Staff via Getty Images
PNC’s Demchak wants to lean in to open banking for growth
The Pittsburgh-based lender’s CEO is wary of larger rivals building branches in every city but said he won’t pay “silly” M&A prices for a “busted” franchise.
By Caitlin Mullen • Sept. 10, 2024 -
Permission granted by Huntington Bank
Huntington wants to open 55 branches in Carolinas over 5 years
The Columbus, Ohio-based bank aims to add 350 employees and expand on a commercial-banking effort it launched in the two states last year.
By Caitlin Mullen • Sept. 9, 2024 -
Valerii Evlakhov via Getty Images
Old National names CFO amid predecessor’s child molestation case
Brendon Falconer, who was put on administrative leave, left the bank Aug. 31 with a $2.6 million payout. John Moran, the now-permanent CFO, has filled the post on an interim basis since April.
By Dan Ennis • Sept. 5, 2024 -
JayLazarin via Getty Images
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 Rajashree Chakravarty • Sept. 3, 2024 -
The image by Tyler Lahti is licensed under CC BY-SA 4.0
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 Caitlin Mullen • Sept. 3, 2024 -
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 -
Win McNamee / Staff via Getty Images
First Merchants exits Illinois retail banking with Old Second deal
Muncie, Indiana-based First Merchants is selling five Chicago-area branches to Aurora, Illinois-based Old Second, but will maintain a loan production office in the Windy City.
By Caitlin Mullen • Aug. 28, 2024 -
TriggerPhoto via Getty Images
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 -
Permission granted by Edward Jones
Edward Jones links with U.S. Bank after Citi reverses course
Citi last August launched a partnership with Edward Jones that was expected to offer checking and savings services. But Citi disbanded the program within months, during its reorganization.
By Caitlin Mullen • Aug. 21, 2024 -
Former Kansas bank CEO gets 24 years in prison
Shan Hanes pleaded guilty in May to one count of embezzlement as a bank officer after taking $47.1 million from Heartland Tri-State Bank as part of a crypto scheme.
By Gabrielle Saulsbery • Aug. 21, 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 -
Tim Boyle/Getty Images via Getty Images
Failed bank CEO’s associate gets 25 years for role in collapse
Robert Kowalski, an attorney and housing developer, must pay $7.2 million to the FDIC over the 2017 fall of Washington Federal, plus more than $400,000 in back taxes to the IRS.
By Gabrielle Saulsbery • Aug. 15, 2024 -
Courtesy of Klarna
Klarna jumps into banking business
The Swedish buy now, pay later company will let consumers use savings accounts to make payments, receive refunds and earn cash rewards from some retailers.
By Lynne Marek • Aug. 15, 2024 -
Solidago via Getty Images
Washington state credit union to buy Oregon bank
Of the 16 credit union-bank deals announced this year, five have involved financial institutions based in the Evergreen State.
By Gabrielle Saulsbery • 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 -
Mario Tama via Getty Images
Citi wealth exec Don Plaus exits after 4 months: reports
The departure — for personal reasons, according to AdvisorHub — may raise questions about the bank’s effort to double down on wealth, which CEO Jane Fraser has said is “starting to improve.”
By Caitlin Mullen • Aug. 6, 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 -
Avosb via Getty Images
Customers Bancorp sues ex-exec, alleges he sold confidential info
Christopher Smalley, the Pennsylvania company’s former chief digital officer, shared information on the implementation and development of Customers’ instant payments platform, the bank alleges.
By Gabrielle Saulsbery • July 26, 2024
