News Topic: Community banking

The coronavirus pandemic has exposed weaknesses even at well-established fintechs. They could become more resilient by partnering with traditional financial institutions. ... Read full article

Unity Bancorp must improve its policies and procedures, and increase staff training, for following Bank Secrecy Act and anti-money laundering laws. ... Read full article

Pedro Bryant will oversee a $3 million effort to fund small businesses in disadvantaged communities. ... Read full article

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. ... Read full article

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

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. ... Read full article

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. ... Read full article

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

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

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 ... Read full article

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. ... Read full article

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

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. ... Read full article

Helping their customers adjust to digital banking and pay crushing bills are just a couple of ways community bankers are reaching out. ... Read full article

The deal will create an $11 billion-asset banking company with operations in a number of markets around New York City. ... Read full article

Neil Dauby, the Indiana company's chief commercial banking officer, will have oversight of all operations, reporting directly to Chairman and CEO Mark Schroeder. ... Read full article

Southwest Bancshares in San Antonio will have assets of $1.5 billion when it absorbs two affiliated banking companies in nearby cities. ... Read full article

The online TV giant will start by moving $25 million to a fund that invests in minority-run financial institutions that serve low-income communities and depositing $10 million into Hope Credit Union in Jackson, Miss. ... Read full article