Is the public banking movement losing steam?
Efforts to create city- or state-owned banks in Los Angeles, Seattle and New Jersey have suffered setbacks of late, but public banking advocates are taking the long view. ... Read full article
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N.Y. bank raises $16M to expand in adjacent markets
Orange County Bancorp has identified two neighboring counties for expansion. ... Read full article
Former bank chairman charged with loan fraud
Fred Daibes and an associate allegedly conspired to fraudulently obtain loans from Mariner's Bank, a New Jersey institution he helped found. ... Read full article
An $80 million bank M&A deal in New Jersey
OceanFirst Financial's acquisition of Capital Bank of New Jersey would strengthen its presence in the southern part of the state and Philadelphia. ... Read full article
JPMorgan to open 50 branches, hire 300 staff in Philadelphia region
It will also invest in mortgage and small-business lending and in neighborhood revitalization efforts there. The moves are part of a nationwide expansion by the largest U.S. bank. ... Read full article
Lakeland adds heft in N.J. with deal for Highlands Bancorp
Lakeland will expand its operations in three counties in its home state of New Jersey with the $57 million acquisition. ... Read full article
Why bank M&A has been so quiet in the Northeast
Once a hotbed of activity, the region has reported the fewest bank mergers since the financial crisis. ... Read full article
Sterling in N.Y. bucks trend with expanded muni reach
The company has created a municipal group that will focus on nonpublic financing services at a time when loans to bond issuers are declining. ... Read full article
ConnectOne bolsters New York operations with Greater Hudson deal
The New Jersey company will pay $76 million for a bank with a low loan-to-deposit ratio and an SBA lending platform. ... Read full article
Bad loan to take bite out of N.J. bank's 2Q earnings
Provident Financial said it increased its allowance against a commercial loan after discovering that the borrower overstated the value of its collateral. ... Read full article
Peapack-Gladstone to buy fourth wealth management firm in two years
Peapack-Gladstone has agreed to buy Lassus Wherley & Associates, which has offices in New Jersey and Florida. ... Read full article
SB One in N.J. expands in its home state with Enterprise deal
The company will pay $48 million for four branches and $230 million in loans. ... Read full article
Small bank is using Wells Fargo as a punching bag. It’s a risky move
A New Jersey community bank has launched a campaign that takes digs at the megabank while highlighting its own values. Should others follow its lead? ... Read full article
Brand ambition: When a bank outgrows its name
It might make sense to scrap a decades-old name, especially for banks with aggressive growth plans. ... Read full article
Small N.J. bank hires a big-bank executive as its president
Boiling Springs Savings Bank said James Nesci, formerly of TD Bank, will manage its operations and create a strategic plan. ... Read full article
New name suggests regional focus for growing N.J. bank
Sussex Bank, which recently completed its first whole-bank acquisition, is rebranding itself as SB One Bank. ... Read full article
What’s driving the push for more public banks?
Only North Dakota has its own state-owned bank, but policymakers in other states say more public banks are necessary to fully meet society's needs. Among those who proponents say would benefit the most: small-business owners and legal marijuana ... Read full article
Equipment finance surge shows no signs of letup
As tax reform spurs demand, a rising rate environment is making the short-term loans more appealing to banks. ... Read full article
Weakness in internal controls surfaces at Valley National
The New Jersey bank did not say exactly what the problem was, but it is beefing up how allegations of financial-reporting violations are reported to upper management. ... Read full article
Oritani in N.J. hit with informal agreement to improve BSA compliance
The company must develop and implement a system of internal controls to ensure full BSA and anti-money laundering compliance, among other things. ... Read full article