At banks of all sizes — from the $7.2 billion-asset WSFS Financial to the $373 billion-asset Capital One — marketing budgets ballooned in the fourth quarter.
Woodforest National Bank made so many C&I loans that it cut into capital and required more liquidity. It has shifted gears, selling two business lines as it refocuses on deposit gathering.
Many bankers say they’re more comfortable with using artificial intelligence behind the scenes, but others — including Synchrony and Wells Fargo — insist AI can be used to interact with customers if it’s deployed properly.
Bigger banks complained that a two-tier system would force them to rethink their models, while smaller banks raised concerns about adding more complexity to an already burdensome process.
Both banks' need for scale started the conversation and the lifting of the SIFI threshold helped seal the deal. Here are five takeaways from one of the industry's biggest recent mergers.
Chemical is paying roughly $3.6 billion for the $23.5 billion-asset TCF. The combined company will be headquartered in Detroit, Chemical's hometown, and operate under the TCF brand.
