Women-owned bank in Houston exceeds capital raise target
More than 350 investors put money into Agility Bank, a de novo minority depository institution that opened in May. It raised nearly $41 million, well surpassing its $30 million goal.
Community banking
Banks see auto-loan weakness as an early sign of slowdown
Auto loan growth eased substantially in the second quarter amid competitive pressures from credit unions and other lenders.
M&A jitters abound, but some banks forge ahead
Rising interest rates, lower stock prices and other headwinds have caused many banks to pump the brakes on dealmaking. But some are betting that these trends will be too short-lived to deter them from engaging in mergers and acquisitions.
Will soaring prices cause small-business credit quality to plummet?
Business owners are seeing their cash flow strained by the highest inflation in 40 years and mounting costs to borrow money.
Rates go up, stocks go down? Why banks didn’t benefit from interest hikes.
Increased interest income would boost lending profitability, but only if borrowers are confident enough in the economy to take out loans. And that's just one of the issues hammering banks' shares.
Vernon Hill sues Republic First after ouster as chairman
The lawsuit filed by the Philadelphia company's CEO claims an opposing board faction lacks a quorum. Hill seeks to bar the group from reinstalling founder Harry Madonna.
Rate hikes may not be enough to cure economy’s ills, bankers say
Banking executives and analysts worry that the Federal Reserve's aggressive plan to raise interest rates will be insufficient to tame inflation and overcome economic fallout from the war in Ukraine.
Peoples in Ohio beefs up equipment financing with $54 million deal
The agreement to acquire Vantage Financial in Minnesota comes less than a year after Peoples Bank purchased North Star Leasing in Vermont.
Treasury invests $8.7B in banks, credit unions focused on underserved
More than 180 community development financial institutions and minority depository institutions will receive the federal funds under a pandemic-era program. “It’s a lifesaver,” a credit union CEO said.
‘Just tired’: Why so many bank, credit union CEOs are calling it quits
Business and regulatory pressures were already weighing on aging executives before the onset of the pandemic led many to delay retirement plans. Now as the crisis eases, an increasing number are finally stepping down.
Minnesota bank acquiring nearby rival to expand in consumer lending
Minnwest Bank, which focuses largely on agriculture lending, said it will “become more sophisticated" with its mortgage and consumer lending services by acquiring Roundbank.
Simmons First National hires TCF veterans for equipment finance unit
The Arkansas bank has hired an 11-member team to develop its new operation. Much of the team joins from TCF Financial, which was sold to Huntington Bancshares in June.
Near-record SBA lending gives banks much-needed earnings jolt
Small Business Administration lenders have reported strong quarterly results, but those gains could evaporate later this year. Here’s why.
CIB Marine in Wisconsin feeling pressure from well-known investor
Hildene Capital, which is pressuring CIB Marine to issue subordinated debt to redeem preferred stock, has nominated two individuals to stand for election to the company's board.
Commercial lending push at Black-owned banks gets results
The architects of two major loan deals featuring Black banks, one involving multiple lenders and a pro sports franchise and another backed by Citigroup, say more transactions like these are in the works.
EJF Capital returns with second TruPS CDO for 2020
The $175.9 million securitization of legacy trust-preferred securities issued by community banks prior to 2007 carries a double-A rating from Moody's.
By
Glen Fest
Regulators tell banks they can choose any replacement rate for Libor
The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.
Reduction in deferrals a promising sign for credit
More consumer and commercial borrowers are paying their loans, increasing the likelihood that charge-offs will be manageable for banks despite the ongoing pandemic.
Lenders press Congress to restart — and revamp — PPP
Bankers and fintech executives want lawmakers returning to Washington to focus on streamlined forgiveness and a second round of Paycheck Protection Program loans for small businesses.
Podcast Libor is out, but SOFR isn’t quite in
As the discredited Libor interest rate benchmark enters its last months, some banks are turning away from the repo-based alternative that regulators prefer. What could go wrong?
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