News Topic: Deposits

Loan demand is finally picking up after several lackluster quarters. Banks' big challenge is finding cheap deposits to fund all those new loans. ... Read full article

The New York company added eight new client teams in 2018 and established a new division that caters to private equity firms on both coasts. ... Read full article

Bank of America CEO Brian Moynihan and his fellow executives said they see nothing to suggest a slowdown is imminent. Their outlook was far more upbeat than that of JPMorgan chief Jamie Dimon. ... Read full article

The nation’s fifth-largest bank now has the financial flexibility to consolidate more branches in existing markets and open new, smaller ones in cities where it has no retail presence, CEO Andy Cecere said. ... Read full article

The San Francisco company's quarterly earnings also reflected higher wealth management revenue. ... Read full article

Robotic process automation is said to have a high return on investment, but adopting it on a large scale has proven challenging, especially at community banks. ... Read full article

Deposit premiums for bank mergers, which topped 10% in 2018 for the first time in years, are expected to keep rising as competition for cheap funding intensifies. ... Read full article

The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent. ... Read full article

New CEO John Turner hasn't fully laid out his vision for the future, but it clearly will involve hiring specialized lenders, balancing labor-saving AI with old-fashioned relationship building, and more streamlining. ... Read full article

On Sep. 30, 2018. Dollars in thousands. ... Read full article

The agency’s rate cap for banks that are less than well capitalized contains several flaws and poses problems for community banks. ... Read full article

Branch acquisitions, once a popular way to scale up in new markets, have started to go by the wayside in the digital age. ... Read full article

The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck. ... Read full article

The San Diego bank has agreed to assume $225 million in deposits at no premium from Modern Woodmen of America, which is shuttering MWABank, its direct bank subsidiary. ... Read full article

Nearly 60% of people thinking about switching banks would be open to banking with a big tech company if they ever get that option. Cash incentives or existing savings accounts are big factors in consumer decisions — and things that banks could keep in mind ... Read full article

It’s still primarily a commercial bank, but the branding campaign — CIT’s first in a dozen years — is designed to appeal to the group driving its torrid deposit growth: retail savers. ... Read full article

Zions' Harris Simmons named Banker of the Year; distilling the hopes and hang-ups around CRA reform; new grist in still ongoing debate over Operation Choke Point; and more from this week's most-read stories. ... Read full article

The Bridgeport, Conn., company is developing a specialty in banking technology businesses. Like so many other small regionals with ambitious growth plans, it faces a tricky balancing act: how to take creative risks without getting in over its head. ... Read full article