Commercial: Page 3
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Fed OKs Renasant, EverBank acquisitions
The central bank issued two approvals Friday, allowing two Mississippi banks to merge in a $1.2 billion deal, and EverBank to acquire components of Sterling Bank for $261 million. Both deals are set to close April 1.
By Caitlin Mullen • March 17, 2025 -
Fed drops enforcement action against Lake Shore Savings Bank
The central bank terminated its enforcement action last week, about three months after the Office of the Comptroller of the Currency dropped its consent order against the lender.
By Rajashree Chakravarty • March 14, 2025 -
Explore the Trendline➔
Natalie Meepian via Getty ImagesTrendlineM&A
President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.
By Banking Dive staff -
Webster eyes $100B threshold, invests in hiring and tech
The Connecticut-based bank aims to hire about 200 people this year, including adding about two dozen technology and cybersecurity employees, Webster’s CIO said.
By Caitlin Mullen • March 14, 2025 -
CIBC CEO Victor Dodig to retire in October
Harry Culham, the lender’s capital-markets chief, will succeed Dodig at the helm of Canada’s fifth-largest bank.
By Dan Ennis • March 13, 2025 -
NYDFS chief details changes spurred by Signature failure
The regulator implemented new escalation protocols and an operational stress testing exercise to keep a closer eye on the “C students” under its watch, Adrienne Harris said Tuesday.
By Caitlin Mullen • March 12, 2025 -
Wells Fargo sues JPMorgan over $481M CRE loan
JPMorgan failed to conduct due diligence on the commercial real estate loan, then quickly offloaded the risk, “taking home millions of dollars of fees in the process,” Wells asserted.
By Caitlin Mullen • March 11, 2025 -
Trump Organization accuses ‘woke’ Capital One of de-banking
The lender de-banked some 300 Trump Organization accounts because it believed “the political tide at the moment favored doing so,” a lawsuit contends. Eric Trump has suggested more big banks may be targeted.
By Caitlin Mullen • March 10, 2025 -
BofA eyes personalization, speedier onboarding for business clients
The team behind the bank’s CashPro platform is making tweaks and enhancements to bring more of the consumer experience to the digital business banking space, a CashPro product executive said.
By Caitlin Mullen • March 6, 2025 -
LA-based Hope gets regulatory nod to merge with Territorial
Hope Bancorp received regulatory approval less than a year after announcing the deal. The merger is expected to be completed at the beginning of April.
By Rajashree Chakravarty • March 4, 2025 -
Valley National Bank bolsters its C-suite
The New Jersey-based lender elevated its interim finance chief to CFO and named an M&T Bank veteran as its next commercial bank president.
By Caitlin Mullen • March 3, 2025 -
Florida serial acquirer strikes again with $110M deal
Seacoast Banking Corp. seeks to expand its footprint in central Florida by buying Heartland Bancshares in a stock and cash deal.
By Rajashree Chakravarty • Feb. 28, 2025 -
KeyBank, Treasury Prime partner on embedded banking
The partnership, targeted at fintechs and institutional clients, will focus on faster revenue generation and simpler technical uplifts.
By Rajashree Chakravarty • Feb. 27, 2025 -
Old Second boosts Chicago-area footprint in $197M Evergreen deal
The transaction will allow Old Second to expand into powersports lending. The deal comes six months after the bank agreed to buy five Chicago-area branches from Indiana’s First Merchants Bank.
By Dan Ennis • Feb. 26, 2025 -
JPMorgan to lay off 121 in NJ
The cuts are part of what was previously reported, according to a spokesperson. Hundreds of open positions remain in New Jersey.
By Gabrielle Saulsbery • Feb. 25, 2025 -
Wells Fargo targets the intersection of commercial, investment banking
Snagging investment banking business with commercial clients is an especially high priority, an executive at the bank said. Wells also wants to “be in the conversation” on clients’ M&A activity.
By Caitlin Mullen • Feb. 25, 2025 -
Dime hires Republic First ex-CEO Geisel
The Long Island-based bank has made a point of scooping up talent from banks that faltered in 2023 and 2024. Tom Geisel will serve as Dime’s senior executive vice president of commercial lending.
By Dan Ennis • Feb. 21, 2025 -
UMB embraces ‘consolidator’ role
The bank’s recent acquisition of HTLF boosted its wealth business by 32% “overnight” and doubled its branch footprint. But UMB CEO Mariner Kemper said he is taking systems conversion deliberately slowly.
By Caitlin Mullen • Feb. 20, 2025 -
Wells Fargo clears 10th consent order; 4 remain
The 2018 consent order issued by the OCC identified deficiencies in the bank’s enterprise-wide compliance risk management program and was tied to a $500 million penalty against the lender.
By Rajashree Chakravarty • Feb. 18, 2025 -
Wells Fargo faces labor board complaint over union vote
The National Labor Relations Board alleged the lender threatened and retaliated against workers in favor of unionization at a California branch.
By Rajashree Chakravarty • Feb. 13, 2025 -
‘Taking stock’: BofA and JPMorgan execs weigh in on Trump 2.0
While Bank of America CEO Brian Moynihan called the recent regulatory shift “classic re-engineering,” one peer exec said the changes “are taking all the oxygen in the room.”
By Caitlin Mullen • Feb. 12, 2025 -
Mandy DeFilippo named Standard Chartered’s top US exec
DeFilippo’s appointment comes after British peer HSBC also named a woman as U.S. CEO, and after U.S. Bank announced its next CEO will be a woman.
By Gabrielle Saulsbery • Feb. 12, 2025 -
TD to sell entire Charles Schwab investment
The expected sale of its 184.7 million shares comes after it sold 40.5 million Schwab shares last August.
By Gabrielle Saulsbery • Feb. 10, 2025 -
SMBC taps ex-TD exec as Americas COO
Greg Keeley, who most recently served as the senior vice president of platforms and technology at TD, will join SMBC in April.
By Rajashree Chakravarty • Feb. 7, 2025 -
Citi’s year-end promotions total 8,500
That figure was similar to past years, following the bank’s broad reorganization and despite earlier reporting Citi would promote far fewer employees in 2024.
By Caitlin Mullen • Feb. 7, 2025 -
Citizens chief experience officer to retire
Beth Johnson, who’s held key leadership roles at the bank for 11 years, will step down in March. The bank is hiring for a new senior executive role overseeing an expanded corporate strategy function.
By Rajashree Chakravarty • Feb. 3, 2025