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Courtesy of Fifth Third
Fifth Third’s Newline to expand Stripe’s embedded financial services
“Maybe we’re just a little too Midwest humble about it, but Newline isn’t new to this,” Newline GM Tom Bianco said. Working with Stripe, he said, reinforces that it is, and has been, “a real force.”
By Gabrielle Saulsbery • July 31, 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 -
Explore the Trendlineâž”
Permission granted by Frost Bank
TrendlineTop 5 stories from Banking Dive
Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.
By Banking Dive staff -
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 -
Spencer Platt / Staff via Getty Images
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 -
ultramarine5 via Getty Images
Goldman vet tapped to lead Julius Baer
Stefan Bollinger, Goldman’s co-head of private wealth management for Europe, the Middle East and Africa, will take the helm of the Swiss bank by Feb. 1, 2025.
By Caitlin Mullen • July 23, 2024 -
Alex Wong / Staff via Getty Images
Truist execs pledge expense discipline
While the bank is “fully committed” to keeping expenses flat this year compared to last, Truist is spending to bolster its payments and middle market lending teams, CEO Bill Rogers said Monday.
By Caitlin Mullen • July 22, 2024 -
Michael M. Santiago via Getty Images
JPMorgan, UBS and others see effects of IT outage
Trading was delayed at JPMorgan and Nomura, media outlets reported. UBS saw problems related to legacy systems inherited from Credit Suisse. Charles Schwab warned users not to place duplicate trades.
By Dan Ennis • 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 -
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 -
Permission granted by O’Malley Hansen Communications
Missouri’s First Bank leans on ‘Goldilocks size’
The family-owned bank, which also serves customers in Illinois and California, is planning to enter the Texas market.
By Caitlin Mullen • July 15, 2024 -
Courtesy of Bank of America
BofA tackles digital banking’s transaction pain points
The latest CashPro platform update is designed to better address transaction-related inquiries — one of the top reasons business customers call and email the bank.
By Maura Webber Sadovi • July 15, 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 -
Drew Angerer/Getty Images via Getty Images
Citi vet joins Blackstone’s credit unit
Tyler Dickson was seen as a contender to lead Citi’s banking unit. He left the bank after JPMorgan alum Viswas Raghavan was hired for the role.
By Gabrielle Saulsbery • July 10, 2024 -
Courtesy of Fifth Third
Fifth Third fined $20M over fake accounts, auto repossessions
The Cincinnati bank must compensate roughly 35,000 harmed consumers. The CFPB settlement resolves a March 2020 lawsuit that asserted the bank created fake accounts and used an aggressive “cross-sell” strategy.
By Rajashree Chakravarty • July 9, 2024 -
Spencer Platt / Staff via Getty Images
Citi urges court to dismiss ex-employee’s retaliation lawsuit
Kathleen Martin sued the bank, claiming she was fired for refusing to misreport data to the OCC. Citi claims she was fired for lacking “the requisite leadership and engagement skills” her role demands.
By Rajashree Chakravarty • July 1, 2024 -
Michael M. Santiago via Getty Images
JPMorgan, BofA, others eye $46M interest rate swaps settlement
Ten banks, including Goldman Sachs, Citi, Morgan Stanley and UBS, are seeking to end an eight-year case, brought by several pension funds, alleging market manipulation.
By Rajashree Chakravarty • June 28, 2024 -
Spencer Platt via Getty Images
M&T’s ex-CFO is leaving the bank
Darren King is departing “for personal reasons” after 24 years, a spokesperson for the Buffalo, New York-based bank said.
By Rajashree Chakravarty • June 27, 2024 -
Justin Sullivan via Getty Images
GM subsidiary withdraws ILC charter application
The move comes just one business day after the FDIC approved its first ILC charter in four years. GM's application gained conditional approval from a Utah banking regulator June 14.
By Rajashree Chakravarty • June 25, 2024 -
pawel.gaul via Getty Images
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
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