News Topic: Community banks

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system. ... Read full article

The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on middle-market lending. ... Read full article

The San Diego bank first considered finding a buyer two years ago and had offers in early 2019. The price of the deal it finally reached in the throes of the pandemic was much lower than some earlier offers. ... Read full article

A collaboration between the two industries to help voters cast absentee ballots has been approved to continue through the general election. ... Read full article

The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook. ... Read full article

More consumer and commercial borrowers are paying their loans, increasing the likelihood that charge-offs will be manageable for banks despite the ongoing pandemic. ... Read full article

At a time when many lenders are shying away from an industry hit hard by the pandemic, State Bank of Texas is going all in. ... Read full article

Bankers and fintech executives want lawmakers returning to Washington to focus on streamlined forgiveness and a second round of Paycheck Protection Program loans for small businesses. ... Read full article

Bartow Morgan Jr., who ran Brand Banking when it was sold to Renasant, also plans to raise $150 million to expand the seller's products and services. ... Read full article

Several community banks that put buybacks on hold during the pandemic’s earliest days have recently authorized new plans, signaling an easing in regulatory pressure and greater comfort with capital levels. ... Read full article

The New Mexico company had recently hired James Crotty, a former director at Keefe, Bruyette & Woods, to serve as its co-CEO. ... Read full article

Several community banks are warning Congress that their participation in the Paycheck Protection Program could cause them to cross a threshold that may lead to, among other things, supervision by the CFPB and a cap on interchange fees. ... Read full article

The purchase-and-assumption transaction, if approved, would become the first credit union-bank merger in Alabama. ... Read full article

The bank is selling $355 million of Paycheck Protection Program credits to the Loan Source, a nonbank lender that is also buying PPP loans from three other banks. ... Read full article

A state judge deciding a dispute between Spencer Savings and an investor said the mutual must get an independent review before switching from a savings association to a savings bank. The ruling may complicate mutuals' efforts to make more business ... Read full article

The deal continues Sound's push into markets north of its Tacoma headquarters. ... Read full article

The deal continues Sound's push into markets north of its Tacoma headquarters. ... Read full article

The company said the sale will provide more consistent financial results and allow it to redeploy funds to support other businesses. ... Read full article