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Hawaii bank postpones acquisition-vote meeting
Territorial Bank sent a letter urging shareholders to vote in favor of the acquisition by Los Angeles-based Hope Bancorp and not get distracted by another investor’s “illusory, non-binding, highly conditional” proposal.
By Rajashree Chakravarty • Oct. 7, 2024 -
Jonathan Drake/Reuters
Hurricane Helene aftermath prompts card, cash troubles
After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.
By Lynne Marek • Oct. 3, 2024 -
Explore the Trendline➔
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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 -
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Would-be acquirer Blue Hill boosts offer for Hawaii bank
Territorial Bank rejected a third all-cash offer from the investor group Blue Hill Advisors, instead sticking with its planned acquisition by California’s Hope Bancorp.
By Rajashree Chakravarty • Sept. 30, 2024 -
Europe’s other players are watching Commerzbank, UniCredit, too
Executives from BNP Paribas and BBVA weighed in on the state of M&A and offered differing theories about why the continent is falling short globally against Wall Street.
By Dan Ennis • Sept. 27, 2024 -
UniCredit’s Orcel labels Commerzbank buy-up merely ‘an investment’
The Italian CEO said a tie-up with Germany’s second-largest lender would be best, but only under the right terms. Meanwhile, if Commerzbank is looking for a lifeline, it won’t be from Deutsche Bank.
By Dan Ennis • Sept. 25, 2024 -
Commerzbank names next CEO amid UniCredit advances
Executives met to discuss strategy after Italy’s UniCredit rapidly amassed a sizable stake in the German bank, in what may be a hostile push to create a European counterbalance to Wall Street.
By Dan Ennis • Sept. 24, 2024 -
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NY credit union-bank tie-up pushes 2024 to brink of M&A record
Rochester-based ESL's proposed acquisition of Generations Bancorp is the 16th announced whole-bank purchase by a credit union this year, tying it with 2022.
By Rajashree Chakravarty • Sept. 24, 2024 -
Ethan Miller / Staff via Getty Images
Las Vegas’ Lexicon Bank bets on growth with nonprofits
As a de novo, the lender experienced quick growth through PPP loan processing. Now, it aims to build on its business with nonprofits, CEO Stacy Watkins said.
By Caitlin Mullen • Sept. 24, 2024 -
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Bank of America on pace to open 165 branches by 2026
The lender’s expansion will include roughly 40 branch openings this year, including its first location in Louisville, Kentucky.
By Rajashree Chakravarty • Sept. 23, 2024 -
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Western Alliance sharpens California middle-market focus
After last year’s turmoil, the regional lender is adding bankers to serve aerospace and agriculture clients in the state, said Julian Parra, a BofA veteran hired to grow the bank’s business with middle-market clients.
By Caitlin Mullen • Sept. 23, 2024 -
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First Bank CEO: Small banks will need more deposits before lending can take off
If smaller banks aren’t able to attract more deposits, they may have to get comfortable with slower loan growth, the CEO of New Jersey’s First Bank suggested.
By Caitlin Mullen • Sept. 20, 2024 -
Anna Hrushka/Banking Dive
NY’s Five Star Bank pivots away from BaaS
The bank cited regulators’ changing expectations. Banking-as-a-service accounts for 2% of Five Star’s deposits and less than 1% of its loans and two of its 12 clients have already begun offboarding, it said.
By Dan Ennis • Sept. 20, 2024 -
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JPMorgan creates role to oversee junior bankers’ ‘wellbeing’: memo
Ryland McClendon’s appointment comes amid a spike in concern over the workload and expectations of associates and analysts after a 35-year-old Bank of America banker died in May.
By Rajashree Chakravarty • Sept. 19, 2024 -
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Silvergate exec cites ‘supervisory pressure’ in bankruptcy filing
The crypto-heavy bank's parent company has no remaining lines of business and followed its subsidiary into Chapter 11 on Tuesday.
By Gabrielle Saulsbery • Sept. 19, 2024 -
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TD CEO Bharat Masrani to retire in April
Raymond Chun, TD’s head of Canadian personal banking, will become the lender’s next CEO, as the bank works to resolve issues within its U.S. anti-money laundering program.
By Caitlin Mullen • Sept. 19, 2024 -
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DOJ joins OCC, FDIC in updating bank merger guidelines
Regulators’ revamped guidelines increase the agencies’ discretion, which is likely to stoke industry uncertainty and, perhaps, extend the timeline to approval, analysts say.
By Caitlin Mullen • Sept. 18, 2024 -
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Carver Bank taps JPMorgan, Citizens vet as new CEO
Donald Felix, a 25-year banking veteran, will succeed Craig MacKay, who became interim CEO of the Black-owned bank last year when the company weathered a “hostile takeover” attempt from an investor.
By Rajashree Chakravarty • Sept. 17, 2024 -
Spencer Platt / Staff via Getty Images
KeyBank CFO eyes opportunities through Scotia deal
The two banks are exploring potential partnership opportunities – and their geographic footprints might allow a jumping-off point, KeyBank CFO Clark Khayat said last week at a conference.
By Caitlin Mullen • Sept. 16, 2024 -
Spencer Platt / Staff via Getty Images
Citi tech chief to share data responsibility with COO: memo
Anand Selva will co-lead the data program with Tim Ryan. Japan Mehta, the outgoing data chief, will transition Ashutosh Nawani into the new role of head of enterprise data office and data transformation, the memo said.
By Rajashree Chakravarty • Sept. 16, 2024 -
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EverBank to buy Michigan’s Sterling Bank for $261M
The deal includes 25 branches, $900 million in loans and $2 billion in deposits; but not Sterling’s sole Michigan branch or its $372.9 million portfolio of residential tenant-in-common mortgage loans.
By Gabrielle Saulsbery • Sept. 16, 2024 -
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 -
"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 names interim CFO Gibson as permanent
The move presumably puts more distance between the bank and Gibson’s predecessor, Nadine Ahn, who has sued the bank for wrongful dismissal and damages.
By Rajashree Chakravarty • Sept. 12, 2024 -
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BofA, JPMorgan, others urged to stop financing livestock production
An open letter singles out the nation's largest banks for their support of food giants like JBS, saying lending activities undermine the sector’s environmental commitments.
By Sarah Zimmerman • Sept. 12, 2024 -
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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 -
Spencer Platt / Staff via Getty Images
Citi’s chief accounting officer exits
Johnbull Okpara is leaving the bank after nearly four years to pursue another opportunity, according to an SEC filing Tuesday. Robert Walsh was named interim CAO.
By Rajashree Chakravarty • Sept. 11, 2024
