Flagstar to close roughly 60 retail branches this year

The bank also aims to shutter 20 private-client retail locations as part of its efforts to cut $600 million in costs in 2025, CFO Lee Smith said Thursday.

By Caitlin Mullen • Jan. 30, 2025

U.S. Bank’s Kedia to become CEO in April

The super-regional lender’s president, Gunjan Kedia, will become the second woman leading a top-10 American bank when she replaces Andy Cecere on April 15.

By Caitlin Mullen • Jan. 28, 2025

Explore the Trendline➔

Top 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

Wells Fargo released from 2022 CFPB consent order

The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit account services.

By Rajashree Chakravarty • Jan. 28, 2025

Citi’s private-bank chief is leaving

Ida Liu, an 18-year veteran of the bank, did not detail her future plans. Citi eliminated her post and will instead have four regional private-banking chiefs.

By Dan Ennis • Jan. 28, 2025

TD names next AML chief

Jacqueline Sanjuas joined the bank last year, months before the Justice Department made public its investigation into TD’s anti-money laundering issues.

By Gabrielle Saulsbery • Jan. 24, 2025

California credit union to buy in-state bank

The $56.4 million acquisition of Community Valley Bank will give Frontwave Credit Union $315.8 million in added assets, five locations and entry to Imperial County.

By Rajashree Chakravarty • Jan. 23, 2025

Patriot Bank, OCC ink deal over ‘troubled’ condition

The Connecticut lender is taking remedial steps after the OCC found “unsafe or unsound practices” and violations related to strategic and capital planning and AML risk management. 

By Rajashree Chakravarty • Jan. 22, 2025

Wells Fargo, Merrill Lynch, LPL settle SEC charges

Two Wells Fargo-affiliated investment advisers and Merrill Lynch agreed to pay $60 million, while LPL Financial agreed to pay $18 million.

By Rajashree Chakravarty • Jan. 21, 2025

FDIC sues 17 ex-SVB executives in alleged ‘gross negligence’

The complaint filed Thursday includes the former CEO and CFO of the failed California-based bank, four other ex-executives and 11 former directors. 

By Rajashree Chakravarty • Jan. 17, 2025

WaFd sheds 8% of staff with mortgage exit

“Our aim is to always offer products and services to our customers where WaFd Bank can add value, and we have concluded that we no longer do so in the mortgage sector,” CEO Brent Beardall said Thursday.

By Caitlin Mullen • Jan. 17, 2025

7 takeaways from Q4 earnings at JPMorgan, Goldman and more

JPMorgan CEO Jamie Dimon addressed his retirement timeline, Goldman chief David Solomon talked Apple, and bankers overall appeared to exude “animal spirits.”

By Dan Ennis • Jan. 15, 2025

Montana’s Glacier Bancorp to buy Idaho lender in $245.4M deal

Acquiring Bank of Idaho will add 15 locations to Glacier's footprint, along with $1.3 billion in assets. The acquisition, set to close in the second quarter, would be Glacier's 26th since 2000.

By Gabrielle Saulsbery • Jan. 15, 2025

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

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

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

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

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