Retail
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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 -
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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 -
Explore the Trendline➔
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TrendlineCustomer service
Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.
By Banking Dive staff -
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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 -
Joe Raedle / Staff via Getty Images
Capital One racks up Walmart, Discover charges
The card company set aside more than $800 million for credit losses post-Walmart breakup, a day after a class-action lawsuit sought to block Capital One's deal for Discover.
By Caitlin Mullen • July 24, 2024 -
Joe Raedle / Staff via Getty Images
Capital One-Discover deal critics, supporters sound off
Executives with the two companies and a number of community groups spoke in favor of the $35.3 billion merger Friday, while a raft of critics urged regulators to block the deal.
By Caitlin Mullen • July 19, 2024 -
Courtesy HSBC
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 -
Alex Wong / Staff via Getty Images
Truist to cut tech jobs amid restructuring
The bank will make an undisclosed number of cuts over the next three to four months and help affected employees in finding other opportunities.
By Gabrielle Saulsbery • July 16, 2024 -
Win McNamee / Staff via Getty Images
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 -
Drew Angerer / Staff via Getty Images
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 -
Mario Tama via Getty Images
ColumnDive 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 -
"Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0
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 -
Anna Hrushka/Banking Dive
FDIC downgrades Forbright Bank’s CRA score
The demerit stems from a relationship the bank had with a third party that ended more than two years ago, a source familiar with the evaluation said.
By Gabrielle Saulsbery • July 9, 2024 -
Permission granted by SMBC
Q&AJenius Bank’s ‘special sauce’: Keeping it simple, with a little parent company help
In just a year, the digitally native bank has surpassed $1 billion in deposits and $900 million in personal loans.
By Gabrielle Saulsbery • July 3, 2024 -
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Indiana’s United Fidelity Bank hit with Fed order
The move follows an enforcement action the Office of the Comptroller of the Currency issued in October to address capital planning, risk management and contingency funding, among other issues.
By Gabrielle Saulsbery • June 26, 2024 -
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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 -
Denis Tangney Jr. via Getty Images
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 -
Denis Tangney Jr. via Getty Images
Gemini to settle with NY AG for $50M
The $50 million in digital assets will go directly to investors of its defunct Gemini Earn program, who will be made whole, according to the settlement.
By Gabrielle Saulsbery • June 17, 2024 -
Jeff Zelevansky via Getty Images
Provident Bank to close 22 branches in New Jersey
Provident, whose merger with in-state peer Lakeland Bancorp closed last month, has decided to shutter branches due to overlapping proximity, the lender announced recently.
By Rajashree Chakravarty • June 14, 2024 -
Spencer Platt / Staff via Getty Images
Citi’s Sieg charts strategy to grow wealth business
Amid Citi’s massive reorganization, there have been “very few” regretted departures, the bank’s head of wealth said Wednesday. He also suggested more key leadership hires are yet to come.
By Caitlin Mullen • June 13, 2024 -
Chris Hondros / Staff via Getty Images
JPMorgan names firmwide CTO
Former PayPal technology chief Sri Shivananda brings with him an “exceptional track record in innovation and technology leadership,” JPMorgan Chase's CIO Lori Beer said in a memo.
By Gabrielle Saulsbery • June 11, 2024 -
Joe Raedle / Staff via Getty Images
TD faces $4.9B proposed class action
Canada’s second largest lender has been awash with anti-money laundering woes, with allegations based in multiple states. The bank set aside $450 million in April and overhauled its AML program.
By Gabrielle Saulsbery • June 7, 2024 -
Samuel Corum/Getty Images via Getty Images
Judge denies Frank execs’ motions to dismiss fraud charges
Charlie Javice and Olivier Amar sought to have the charges against them dismissed due to their indictments’ “lack of specificity.” They were unsuccessful.
By Gabrielle Saulsbery • June 5, 2024 -
Permission granted by TD Bank
Florida TD employee accused of taking bribes in new AML case
The employee, who has since been fired, allegedly took $200 bribes from a Colombian national and allowed the transfer of millions of dollars from the U.S. to Colombia, court documents show.
By Gabrielle Saulsbery • June 4, 2024 -
Michael M. Santiago / Staff via Getty Images
Goldman considering bonuses for private bank referrals: report
Executives are considering relying on a formula to calculate bonus pay for investment bankers who refer clients to Goldman's private bank, sources told the Financial Times.
By Gabrielle Saulsbery • June 3, 2024
