Community banking

Community banks get on board with bots

09/10/20

Robotic process automation is normally the province of large banks, but Extraco Banks in Texas and Carter Bank in Virginia are training bots to perform repetitive, mind-numbing tasks.

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Activist lawsuit a reminder for banks to tread carefully in proxy fights

09/09/20

Driver Management, a bank investor, alleges that First United in Maryland made false claims and improperly lobbied lawmakers to keep its nominees off the board. The bank asserts that it acted properly in response to an attempted hostile takeover.

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Most loans in Fed's Main Street program exceed $1 million

09/08/20

Only one of the 118 loans bought by the Federal Reserve through Aug. 31 was close to the $250,000 minimum in the rescue program, aimed small to midsize businesses hurt by the pandemic.

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Can multimillion-dollar pledge to Black banks help close wealth gap?

09/04/20

A New York CDFI is halfway to its $100 million fundraising goal for a fund that would put deposits in Black-owned banks and make loans to key businesses or projects. It hopes the moves will improve availability of capital and access to mainstream financial products.

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Bogota Financial to acquire Gibraltar Bank

09/03/20

The New Jersey company will add three branches in the northern part of the state as part of the transaction.

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Midland States in Illinois to close 13 branches

09/03/20

The company also plans to shed some corporate office space by the end of this year.

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Even in pandemic, small banks forge ahead with core conversions

09/03/20

Many community banks, like Peoples Community in Wisconsin, say they proceeded despite the technological challenges presented by social distancing because the crisis has exposed the shortcomings of their digital systems.

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California probes potential violation of new rate-cap law

09/03/20

The state's financial regulator sent a subpoena to an auto-title lender seeking information about its partnership with a Utah bank, marking the first public disclosure of an investigation into efforts to evade a 2019 law capping interest rates on many consumer loans.

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The fintech Jiko buys a bank

09/03/20

The company has acquired a federal savings association, Mid-Central Federal Savings Bank in Wadena, Minn., which is converting to a national bank.

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N.C. bank turns to Black colleges to broaden recruitment

09/02/20

Piedmont Federal Savings is working with historically Black colleges and universities to hire and train prospective commercial lenders and managers who better reflect the community it serves.

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