BankThink

Community Bank System expanding in western N.Y. with latest merger

10/22/19

The company agreed to buy Steuben Trust for $107 million.

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Mnuchin blasts Libra plan ahead of Facebook CEO's testimony

10/22/19

The Treasury secretary repeated his concerns about the social media giant's proposed cryptocurrency, one day before Mark Zuckerberg is expected to face tough questioning from House lawmakers.

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Synovus lowers loan growth outlook amid surge in CRE payoffs

10/22/19

The Columbus, Ga., company had been counting on increased volume to offset a squeeze in net interest margins.

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Bank of Southern California adds heft near Los Angeles with CalWest deal

10/22/19

The $32 million merger will create a bank with nearly $1 billion in assets.

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CIT's deposit costs soar, but acquisition will bring relief, CEO says

10/22/19

Ellen Alemany said that CIT's deal for Mutual of Omaha Bank will immediately lower the bank's deposit funding by 20 basis points. She also reiterated that the acquisition would make CIT more attractive to potential buyers.

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U.S. Bank to cut thousands of branch workers in digital push

10/22/19

U.S. Bancorp is eliminating thousands of branch workers as it adjusts to changing customer preferences, according to a person briefed on the decision.

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Banks must act now or risk becoming a ‘footnote’: McKinsey

10/22/19

A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, the consultancy said in its annual review of the industry released this week.

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Don’t buy what Zuckerberg’s selling on Libra

10/22/19

Facebook’s cryptocurrency would not help underserved communities, despite the claims of its CEO, who is slated to appear before Congress this week.

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FirstBank to buy Santander's Puerto Rico operations for $1.1 billion

10/22/19

The deal, which is expected to close in mid-2020, would create a company with nearly $18 billion of assets and more than $14 billion of deposits.

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Scharf’s first day at Wells Fargo; Zuckerberg readies to face the Hill

10/22/19

The new CEO is the first outsider to head the scandal-ridden bank in decades; Facebook CEO faces the House Financial Services Committee on Wednesday to discuss Libra.

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