Community banking

While the federal government is touting the early success of the Paycheck Protection Program, community banks are complaining about headaches and glitches.

The proposed Agility Bank would rely heavily on digital offerings. It is pursing a national charter with the Office of the Comptroller of the Currency.

The pandemic may force the Small Business Administration to rely more on fintechs and digital channels to hasten loan approvals, a shift that could stick.

While some big banks have pledged to avoid layoffs this year, hiring freezes and delayed projects are becoming the norm during the pandemic.

The acquirer had pursued a de novo strategy in its home state but was unable to raise enough capital.