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

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

Explore the Trendline➔

M&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

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

Dive 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

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

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

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

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

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

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. 3, 2025

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

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

A 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

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

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

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

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

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

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

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

Could a French bank foil UniCredit’s play for Banco BPM?

Crédit Agricole boosted its stake in BPM — borrowing a strategy UniCredit used on Commerzbank. The French bank insists it doesn’t aim to buy BPM. The Italian government seems OK with that.

By Dan Ennis • Dec. 9, 2024

Wells Fargo to lay off hundreds in Oregon

The Hillsboro and Salem offices, with 500 and 221 employees, respectively, might be impacted by the lender’s decision to pull out of these locations, according to a WARN notice filed Tuesday.

By Rajashree Chakravarty • Dec. 5, 2024

HSBC names new US CEO

Lisa McGeough will step into the role Jan. 1. Meanwhile, Annabel Spring will depart from her role as global private banking and wealth CEO.

By Gabrielle Saulsbery • Dec. 5, 2024

TD shelves growth targets in wake of AML settlement

The embattled Canadian lender is undergoing a strategic review of its priorities and opportunities. “Everything is on the table,” said Raymond Chun, the bank’s current COO who will take the CEO reins in April.

By Caitlin Mullen • Dec. 5, 2024