Revenue and expenses

Expect surge in mergers of equals in '21, industry veteran says


Robert Kafafian says he's hearing more MOE chatter now than at any time in his decades-long career as a consultant. He cited smaller banks' need to cut costs, improve tech offerings and compete with bigger lenders.


Carter Bankshares in Virginia to close 24 branches


The company, which reported a large third-quarter loss in October, plans to sell or shutter a quarter of its locations.


Bankwell warns of one-time charge tied to cost cuts


The New Canaan, Conn., company said it will record a pretax expense of $3.9 million in the fourth quarter related to branch and office closings, severance payments and the end of a vendor contract.


Looking back at 2020's community bankers to watch


One engineered a big M&A deal, another struggled with his bank's credit issues and another abruptly resigned. Here are their stories and more.


First Merchants in Indiana to close 17 branches


The company adds to a growing list of banks shutting branches to invest in technology offerings.


Some credit unions are spending more even as earnings tumble


Management teams are forging ahead with technology projects and bonuses for some employees despite a deep slide in net income this year.


F.N.B. in Pennsylvania to close 21 branches


The Pittsburgh company also sold a portfolio of indirect auto loans and repaid a large amount of Federal Home Loan Bank borrowings.


7 takeaways from NCUA's 3Q data


Credit quality has remained strong at credit unions, but there are hints that some of them — especially the smallest ones — could report lackluster earnings well into next year, according to the National Credit Union Administration's latest intel on industrywide finances.


First Mid in Illinois discloses plan to close branches


The company is looking to shutter 10 of its 63 branches over coming months, reflecting a shift in customer preferences.


Banks take harder look at expenses


First Horizon, TCF and Webster are among the banks eyeing efficiency initiatives that could include more branch closings, layoffs and reduction of office space. Expect others to follow suit as low rates and tepid loan demand tied to the pandemic pressure revenue.