Commercial
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Courtesy of Gilbane Building Co.
SouthState to sell 170 branches in $475M lease-back deal
The Florida lender will enter lease agreements with Blue Owl Real Estate Capital for each branch, with initial 15-year terms, according to a filing. The bank said it will not close any affected locations.
By Rajashree Chakravarty • Jan. 14, 2025 -
Michael M. Santiago / Staff via Getty Images
JPMorgan elevates Piepszak to COO
Jennifer Piepszak replaces Daniel Pinto, who will retire in 2026. But she indicated she’d rather work in a “senior operating role” than be considered to succeed CEO Jamie Dimon “at this time.”
By Dan Ennis • Jan. 14, 2025 -
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TrendlineTop 5 stories from Banking Dive
As the banking sphere prepares for a second Trump presidency, institutions are weighing branch strategy and regulatory changes — and looking at how past crises have altered their perception of risk.
By Banking Dive staff -
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Pennsylvania banks to combine in $214M deal
CNB Financial Corp. will buy ESSA Bancorp in a transaction meant to help it expand in eastern Pennsylvania. The deal is expected to close in the third quarter.
By Rajashree Chakravarty • Jan. 13, 2025 -
Truist COO Beau Cummins resigns
The move comes after “material changes to his responsibilities” were made after the sale of Truist Insurance Holdings. Truist’s chief wholesale banking officer and CFO will split Cummins' responsibilities.
By Dan Ennis • Jan. 13, 2025 -
Anna Hrushka/Banking Dive
FDIC’s Hill sets out priorities for agency’s ‘new direction’
The agency’s vice chair anticipates a shift in bank supervision that emphasizes core financial risks over a process-related focus.
By Caitlin Mullen • Jan. 13, 2025 -
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Fed approves UMB’s $2B acquisition of HTLF
The transaction, set to close by Jan. 31, would boost UMB’s assets by roughly 40%, more than double its branch footprint and give it entry to five new states.
By Dan Ennis • Jan. 13, 2025 -
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JPMorgan sues 4 Viva Wallet execs, fintech’s majority owner
The bank alleges Viva CEO Haris Karonis and others deprived JPMorgan of “the value of its investment” through illegal actions.
By Gabrielle Saulsbery • Jan. 9, 2025 -
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ColumnDive Deposits: Morgan Stanley’s MD promotions don’t set records, they follow the herd
While Citi, BofA and Goldman touted their biggest cohorts of managing directors in years, Morgan Stanley elevated greater numbers in 2022 and 2023. But the banks appear in lock-step on other value markers.
By Dan Ennis • Jan. 9, 2025 -
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6 banking trends to watch in 2025
Donald Trump’s return to the White House is expected to make an impression on a number of facets in banking – from regulation to M&A to crypto.
By Dan Ennis , Rajashree Chakravarty , Caitlin Mullen , Gabrielle Saulsbery • Jan. 8, 2025 -
Courtesy of Ally Financial
Ally lays off hundreds of employees
The bank also announced plans to exit the mortgage origination business this quarter. Ally is exploring strategic alternatives for its credit card business.
By Gabrielle Saulsbery • Jan. 8, 2025 -
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Credit Suisse had more Nazi-linked accounts than previously known: probe
The Swiss bank engaged in a “pattern of obstruction” by not sharing some information during past investigations into the lender’s ties to Nazis, the Senate Budget Committee said.
By Caitlin Mullen • Jan. 6, 2025 -
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Patriot National taps new president to help in capital raise
Steven Sugarman was hired to lead the company’s restructuring efforts shortly after the company announced it was embarking on a strategic review.
By Rajashree Chakravarty • Jan. 3, 2025 -
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Bank of America buys $990M in multifamily loans from HomeStreet
HomeStreet CEO Mark Mason said the sale is the bank’s first step in returning to profitability.
By Gabrielle Saulsbery • Jan. 3, 2025 -
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Massachusetts, Michigan deals push credit union-bank record to 22
Not every deal crosses the finish line, though. Atlanta Postal Credit Union and Affinity Bank terminated their proposed combination Monday.
By Rajashree Chakravarty • Jan. 2, 2025 -
Anna Hrushka/Banking Dive
Kansas bank challenges $20M FDIC penalty
CBW Bank, charged with failing to maintain adequate anti-money laundering controls, has filed a lawsuit challenging the agency’s action, calling the penalty “unreasonable and unprecedented for a bank of this size.”
By Caitlin Mullen • Jan. 2, 2025 -
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Hawaiian Electric sells majority stake in American Savings Bank
The $450 million deal follows the Hawaiian utility company’s agreement last year to put close to $2 billion toward a joint settlement stemming from the 2023 Maui wildfires.
By Caitlin Mullen • Jan. 2, 2025 -
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TrackerA running list of BaaS banks hit with consent orders in 2024
Regulators have taken a harder look at bank-fintech partnerships. Experts said the orders highlight gaps in due diligence and monitoring related to third-party partners.
Dec. 18, 2024 -
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FDIC weighs lawsuit against ex-SVB execs
The regulator is considering taking legal action against six former officers and 11 former directors of Silicon Valley Bank over their role in the bank’s collapse and $23 billion hit to the Deposit Insurance Fund.
By Caitlin Mullen • Dec. 18, 2024 -
Ohio’s Northwest to acquire Penns Woods in $270.4M deal
Buying the holding company for Jersey Shore State Bank and Luzerne Bank will give Northwest 24 added Pennsylvania locations and create a $17 billion-asset bank.
By Dan Ennis • Dec. 18, 2024 -
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ConnectOne CEO could weigh more deals in warming M&A climate
As the bank awaits approval of its purchase of The First of Long Island, ConnectOne’s CEO anticipates enhancements to regulators’ review processes, bringing more streamlined approvals under the Trump administration.
By Caitlin Mullen • Dec. 17, 2024 -
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Flagstar makes 2nd CFO change this year
Lee Smith, the bank’s president of mortgage, will take over as chief financial officer Dec. 27, as Craig Gifford will “reengage in personal endeavors outside of banking,” Flagstar said. Gifford joined Flagstar in April.
By Dan Ennis • Dec. 17, 2024 -
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SouthState, Independent deal approved by Fed
The roughly $2 billion deal is the second banking investment or combination to which the central bank has given its blessing in as many days.
By Dan Ennis • Dec. 13, 2024 -
Spencer Platt / Staff via Getty Images
Scotiabank gets Fed’s approval to take bigger KeyBank stake
The earlier-than-expected green light will let the Canadian lender proceed to Phase 2 of its investment — a $2 billion infusion and the right to name two directors to the Cleveland bank’s board.
By Dan Ennis • Dec. 13, 2024 -
Courtesy of Ally Financial
Ally CEO indicates card business not a core focus
“In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.
By Caitlin Mullen • Dec. 13, 2024 -
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Massachusetts banks to combine in $562M deal
The transaction, expected to close in the second half of 2025, will create a $25 billion-asset entity and enable Independent Bank to enter New Hampshire.
By Rajashree Chakravarty • Dec. 9, 2024
