News Topic: Community banking

The Paycheck Protection Program and encouraging digital innovation are top priorities for James Edwards, CEO of United Bank in Georgia. He also expects the American Bankers Association to promote diversity and regulatory reform in the next year. ... Read full article

Bank of America made three more investments in minority-focused lenders, bringing its total to 10 in the past two months. ... Read full article

Deposits have piled up, curtailing overdrafts and other fees. The trend could force lenders to find other ways to make money — or start cutting to the bone. ... Read full article

Equity Bank agreed to buy most of the assets, and assume all the deposits, of Almena State Bank. ... Read full article

The company will close nine branches over the next three months. ... Read full article

The assertion by former Goldman Sachs executive Gary Cohn that smaller banks won't be viable in a high-tech world overlooks their success in partnering with fintechs, according to the Independent Community Bankers of America. ... Read full article

The company will close eight locations, noting that customers have been quick to adopt digital channels during the coronavirus pandemic. ... Read full article

Southern Bancorp in Arkansas, which raised $35 million in capital from private investors, is out to prove that that community development financial institutions can deliver attractive returns and fulfill their missions to help the underserved. ... Read full article

Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold. ... Read full article

Lenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program. ... Read full article

Television executive Ryan Glover, rap star Killer Mike and civil rights icon Andrew Young have launched a digital bank for Black and Hispanic consumers called Greenwood Financial. ... Read full article

Deferrals may be hiding credit issues, leading lenders to track deposit flows, property maintenance and other factors to gauge the true health of their portfolios. ... Read full article

SaveBetter.com from Deposit Solutions lets consumers shop for different savings products through one portal and provides national exposure for participating banks, which include Ponce Bank in New York and Central Bank of Kansas City. ... Read full article

Many consumers are taking to the highways and the water for safe getaways during the pandemic — powering one of the few bright spots in lending. However, bankers warn that boomlets usually come with distinctive credit risks. ... Read full article

The proposed Multi-Bank shares an address with the Fort Lauderdale, Fla., office of Multi-Bank Securities. ... Read full article

The flood of liquidity that accompanied the pandemic recession isn’t likely to subside anytime soon. Banks will have to employ a mix of securities buying, hedging and other balance-sheet-management tricks to prop up margins longer than initially imagined. ... Read full article

Low rates and intense competition might lead some banks to ease underwriting standards in 2021, when the economy may not yet have recovered. ... Read full article

The Georgia company will add nearly $200 million in assets as part of the acquisition. ... Read full article