Community banking

How banks aim to close racial wealth gap: More minorities in leadership

07/12/20

The pressure is on for banks to help Black and Hispanic households build net worth. Many say that starts with diversifying the ranks of middle and upper management.

[more]

Banks seek more fintech help for PPP's next phase

07/10/20

After tech firms assisted community bankers in processing applications in the Paycheck Protection Program, small-business lenders are continuing to engage with cloud providers and other outside companies to automate the loan forgiveness process.

[more]

Tennessee bank merger to create $1 billion-asset lender

07/10/20

Citizens Bancorp Investment has agreed to buy American Bancshares in a deal expected to close later this year.

[more]

Bill would create California public bank

07/09/20

Two state assembly members introduced legislation that would let the California Infrastructure and Economic Development Bank accept deposits from public entities and provide financing to small businesses and local governments.

[more]

Black communities need more help from Fed

07/07/20

The Main Street Lending Program and other Federal Reserve loan facilities should be tailored to the needs of Black-owned banks and businesses.

[more]

MidWestOne in Iowa hires outsider as next president

07/07/20

Len Devaisher once served as a regional executive for Old National Bancorp.

[more]

Big banks join fight against new ILCs

07/06/20

Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry’s heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.

[more]

‘There will be hundreds of fintech failures’

07/06/20

Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have an opportunity to forge new bonds with the survivors.

[more]

Dime-Bridge a conventional deal in unconventional times

07/05/20

The New York-area companies' $489 million agreement runs counter to recent merger pacts built around branch cuts and more tech spending.

[more]

Hildene packages community bank debt into new CDO offering

07/02/20

The class A notes, secured by legacy trust-preferreds and subordinated debt of institutions, carry an investment-grade A1 rating from Moody's. That rating is slightly lower than a prior Hildene CDO, due to elevated pandemic risk to bank profitability.

[more]