TD Bank Group (TD) and Google Cloud announced a multi-year strategic relationship. TD will add Google Cloud services to its portfolio of data-driven technology solutions to support its delivery of innovative banking experiences. Google Kubernetes...
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April 04, 2024, 07:10 AM
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U.S. Bank has launched a new division dedicated to serving private capital firms and global asset managers.The Private Capital and Global Asset Management division brings together all parts of the bank that currently serve more than 200 private...
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February 23, 2024, 07:05 AM
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PNC Bank announced a significant investment in its branch network aimed at extending access to banking services and financial expertise for customers and communities across the country. The plan includes an approximate $1 billion investment to open...
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February 15, 2024, 07:18 AM
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Milestone Bank, formerly LCA Bank Corporation, unveiled its refreshed website reflecting the final piece of its rebranding initiative.“We are thrilled to rebrand as Milestone Bank,” said Gary Harding, CEO of Milestone Bank. “The name itself implies...
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December 11, 2023, 07:15 AM
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LCNB Corp., the holding company for LCNB National Bank, and Eagle Financial Bancorp, Inc., the holding company for EAGLE.bank, announced that they have signed a definitive merger agreement whereby LCNB will acquire EFBI in a stock-and-cash...
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December 01, 2023, 07:07 AM
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TD Bank announced it ranked No. 1 for the seventh consecutive year in total number of approved U.S. Small Business Administration (SBA) loans in its Maine-to-Florida footprint for the SBA's 2023 fiscal year. TD Bank is also the #2 ranked SBA lender...
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November 30, 2023, 07:15 AM
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TD Bank Group announced the appointment of Alan MacGibbon as Chair of the Board of Directors, effective February 1, 2024. MacGibbon will succeed Brian Levitt, who will also retire from the Board following the Bank's annual meeting of shareholders on...
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November 30, 2023, 07:00 AM
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F&M Bank, an Archbold, OH-based community bank owned by Farmers & Merchants Bancorp, Inc. announced the opening of its newest full-service office and new regional headquarters in downtown Fort Wayne.Northern Indiana Regional President and Chief...
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November 07, 2023, 07:04 AM
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Republic Bank & Trust Company has been named to Newsweek’s Best Online Lenders in America 2024 list in multiple categories. The rankings, a collaboration between Newsweek and Lending Tree, named Republic in five different loan types across two...
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October 30, 2023, 07:00 AM
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LINKBANCORP, parent company of LINKBANK, and Partners Bancorp ("Partners"), a financial services company with two wholly-owned operating subsidiaries, The Bank of Delmarva and Virginia Partners Bank, announced receipt of required regulatory approvals...
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October 17, 2023, 07:05 AM
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Goldman Sachs entered into an agreement to sell the GreenSky platform and associated loan assets to a consortium of institutional investors led by Sixth Street (the “Consortium”). The transaction is expected to close in the first quarter of 2024...
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October 12, 2023, 07:07 AM
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The biggest US banks are poised to write off more bad loans than they have since the early days of the pandemic as higher-for-longer interest rates and a potential economic downturn are putting borrowers in a bind, according to a Bloomberg report....
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October 11, 2023, 07:23 AM
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Small business loan approval percentages at big banks ($10 billion+ in assets) fell again, dropping from 13.2% in August to 13.1% in September, according to the latest Biz2Credit Small Business Lending Index released today. Big bank lending to small...
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October 11, 2023, 06:30 AM
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As South Florida’s banking landscape sees heightened demand amidst an influx of businesses, residents, and capital, Banesco USA, a community bank with over $3.57 billion in assets, is enhancing its commercial and industrial (“C&I”) and residential...
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October 09, 2023, 06:55 AM
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As South Florida’s banking landscape sees heightened demand amidst an influx of businesses, residents, and capital, Banesco USA, a community bank with over $3.57 billion in assets, is enhancing its commercial and industrial (“C&I”) and residential...
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October 06, 2023, 07:36 AM
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PNC Bank has acquired a portfolio of capital commitments facilities from Signature Bridge Bank through an agreement with the Federal Deposit Insurance Corporation ("FDIC") as Receiver. The transaction closed Oct. 2, 2023. The FDIC established...
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October 04, 2023, 07:15 AM
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On September 28, 2023, United States District Judge Eldon E. Fallon sentenced WILLIAM J. BURNELL, age 73, of Kenner, ROBERT B. “BRAD” CALLOWAY, age 63, of Metairie, and FRANK J. ADOLPH, age 63, of New Orleans, announced U.S. Attorney Duane A. Evans....
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October 04, 2023, 06:54 AM
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First Citizens Bank is extending its brand to cover numerous commercial business verticals that previously fell under First Citizens' CIT division. This effort represents another major step towards First Citizens fully integrating CIT since its 2022...
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October 03, 2023, 07:05 AM
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Manufacturers Bank, a subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group, announced that it will be changing its name to SMBC MANUBANK as it expands into new markets and industries, and highlighting its decades-long affiliation with...
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September 29, 2023, 06:30 AM
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WSFS Financial Corporation announced its Global Capital Markets team’s expansion into the Collateralized Loan Obligations (CLO) market. To support this expansion, the Company is adding new team members with expertise in CLOs."We are excited to expand...
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September 28, 2023, 06:54 AM
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Centerbridge Partners and Wells Fargo & Company announced they are entering into a strategic relationship focused on direct lending to non-sponsor North American middle market companies. To meet the alternative credit needs of this segment...
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September 27, 2023, 07:15 AM
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Citizens Financial Group announced a $50 billion Sustainable Finance Target including $5 billion in green financing, by 2030. The company also announced that it will engage corporate clients in high-emitting sectors on climate-related topics. To...
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September 26, 2023, 05:00 AM
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Laurentian Bank announced it has completed its review of strategic options aimed at maximizing shareholder and stakeholder value with the support of independent financial and legal advisors. Based on the review, the Board, with the support of the...
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September 18, 2023, 07:15 AM
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Santander Bank announced that its Commercial Bank closed a $250 million asset-based revolving credit facility on behalf of Wind Turbine & Energy Cables Corp (WTEC). Santander acted as administrative agent, joint lead arranger and joint bookrunner on...
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September 18, 2023, 07:05 AM
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EverBank, formerly TIAA Bank, announced the launch of its new name and brand, marking a significant milestone in its mission to redefine banking through innovation, performance, and client partnership."EverBank has always been a name synonymous with...
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September 13, 2023, 07:20 AM
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First Horizon Corp. announced the opening of its First Horizon St. Simons Island banking center. This marks the newest addition to First Horizon's footprint, located in St. Simons Island, GA. The week-long grand opening festivities received an...
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September 01, 2023, 07:18 AM
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According to a Reuters report, Moody's cut credit ratings of several small to mid-sized U.S. banks on Monday and said it may downgrade some of the nation's biggest lenders, warning that the sector's credit strength will likely be tested by funding...
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August 09, 2023, 07:20 AM
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The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the...
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May 10, 2023, 07:23 AM
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U.S. Bank is introducing a new Business Diversity Lending Program that will expand the ability of diverse business owners to obtain capital, building upon the bank’s broader efforts to support under-represented businesses and help address the wealth...
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May 02, 2023, 07:05 AM
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JPMorgan Chase announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). In carrying out this transaction...
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May 01, 2023, 07:23 AM
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Bloomberg reported PacWest Bancorp is exploring a sale of its lender finance arm, according to people familiar with the matter. The California-based bank is working with a financial adviser to solicit interest in the business, said the people, who...
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April 24, 2023, 07:20 AM
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The Federal Reserve Board announced its approval for UBS Group AG, of Zürich, Switzerland, to acquire the U.S. subsidiaries of Credit Suisse Group AG, of Zürich, Switzerland.The application was submitted in connection with UBS Group AG's acquisition...
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April 17, 2023, 07:23 AM
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Bloomberg reported U.S. bank lending contracted significantly in the last two weeks of March, indicating a tightening of credit conditions. According to the Bloomberg report, commercial bank lending declined nearly $105 billion in the two weeks ended...
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April 11, 2023, 07:10 AM
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Republic Bank & Trust Company announced the opening of a new banking center in Bellevue, KY, expanding its service area into Campbell County and the Greater Cincinnati area.The banking center has already begun servicing existing and new Republic...
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March 29, 2023, 07:05 AM
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TD Bank Group (TD) has earned the No. 1 spot in Brand Finance 2023 Canada 100 Report, ranking the 100 most valuable brands in Canada.Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the world's biggest brands to the test...
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March 24, 2023, 07:15 AM
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UBS announced it plans to acquire Credit Suisse. The combination is expected to create a business with more than $5 trillion in total invested assets and sustainable value opportunities. It will further strengthen UBS’s position as the leading...
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March 20, 2023, 07:18 AM
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Western Alliance Bank, the primary subsidiary of Western Alliance Bancorporation, on March 17 issued the following statement reaffirming its financial strength.Western Alliance remains in a strong position, with immediately available liquidity of...
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March 20, 2023, 07:05 AM
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Pacific Western Bank, the primary subsidiary of PacWest Bancorp, issued the following statement reaffirming its financial strength.Pacific Western Bank continues to have solid liquidity, with over $10.8 billion in available cash as of March 17....
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March 20, 2023, 07:00 AM
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Bank of America, Citigroup, JPMorgan Chase and Wells Fargo announced they are each making a $5 billion uninsured deposit into First Republic Bank. Goldman Sachs and Morgan Stanley are each making an uninsured deposit of $2.5 billion, and BNY-Mellon...
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March 17, 2023, 07:25 AM
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While the recent and sudden deterioration of several U.S. banks has been most impactful to the depositors, shareholders and lenders to these institutions, non-bank financial institutions, insurance companies and funds have experienced a variety of...
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March 17, 2023, 07:20 AM
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Bloomberg reported that Moody’s Investors Service placed First Republic Bank and five additional U.S. lenders on review for downgrade following the collapse of Silicon Valley Bank.According to the Bloomberg report, Western Alliance Bancorp., Intrust...
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March 15, 2023, 07:20 AM
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First Citizens Bank announced its Middle Market Banking group is expanding yet again – this time to better support the financial needs and goals of midsize businesses in the Midwest and South Central U.S.First Citizens Middle Market Banking has been...
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March 15, 2023, 07:15 AM
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Signature Bank, New York, NY, was closed on March 12th by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC transferred all the deposits...
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March 14, 2023, 07:25 AM
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First Citizens Bank on March 1 celebrated its 125th year of delivering long-term value and excellent service to clients and strong results to shareholders. First Citizens is recognizing this significant service milestone with a celebration throughout...
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March 02, 2023, 07:20 AM
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Customers Bank announced the launch of a new Loan Syndications Banking Team, expanding the bank’s lending services for middle market businesses and lead deals to support the bank’s existing and future national lines of business.The Loan Syndications...
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February 17, 2023, 07:12 AM
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BMO Financial Group, and its subsidiaries BMO Financial Corp. and BMO Harris Bank N.A. (together, "BMO"), announced it has completed the acquisition of Bank of the West from BNP Paribas.BMO's acquisition of Bank of the West brings nearly 1.8 million...
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February 02, 2023, 07:22 AM
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The PNC Financial Services Group, Inc. announced the closing of its latest Green Bond issuance. The proceeds will fund eligible projects that promote a transition to a low-carbon economy and offer sustainability benefits across four categories...
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January 26, 2023, 07:00 AM
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Citizens Financial Group has been named Bank of the Year 2022 for the U.S. by The Banker, an outlet of The Financial Times, as part of the magazine’s annual global banking awards.In announcing the award, the magazine noted Citizens’ successful growth...
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December 08, 2022, 07:08 AM
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Wells Fargo & Company has unveiled Vantage, a new digital banking platform for Commercial Banking and Corporate & Investment Banking clients. Previously known as the Commercial Electronic Office – or CEO Portal – Vantage offers enhanced features to...
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December 05, 2022, 07:22 AM
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Bell Bank announces the launch of Bell Business Credit, a national specialty lending team providing asset-based lending and factoring services ideally suited for working capital intensive companies that generate $2 million to $120 million in annual...
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November 21, 2022, 07:12 AM
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In the 16 months between two U.S. Bank CFO surveys, finance leaders faced a wave of new challenges, from high inflation to the effects of the war in Ukraine. The 2022 U.S. Bank CFO Insights Report found that finance leaders’ priorities have shifted...
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November 02, 2022, 07:20 AM
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Kapitus, a provider of financing to small and medium-sized businesses (SMBs), announced it has selected Mambu’s cloud banking platform as its technology foundation. Kapitus will leverage Mambu’s low-code, composable lending engine to achieve a faster...
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October 26, 2022, 07:00 AM
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JPMorgan Chase announced it is now able to accept government deposits in all 50 U.S. states. This milestone is significant because most states require or encourage banks to have a local branch presence to be eligible to receive or hold government...
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October 18, 2022, 07:05 AM
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Regions Bank announced the launch of a digital solution enabling Corporate Banking clients to send real-time payments through the RTP network from The Clearing House. The new real-time payments service is part of Regions’ iTreasury platform, which...
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October 12, 2022, 07:05 AM
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First Citizens Bank announced the official launch of its Middle Market Banking unit to support the financial needs and goals of midsize businesses across the Southeastern U.S. Headquartered in Charlotte, First Citizens Middle Market Banking is now...
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September 07, 2022, 07:20 AM
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CIT Bank, the national online bank, announced it has been ranked as No. 1 in the nation for humanizing the customer experience in an independent survey conducted by American Banker in partnership with Monigle, a brand experience agency.The survey...
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September 02, 2022, 07:05 AM
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Citigroup Inc. announced that, as part of its continued efforts to reduce its operations and exposure in Russia, it will wind down its consumer banking and local commercial banking operations in the country. As part of the wind-down, Citi will also...
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August 26, 2022, 07:12 AM
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Sumitomo Mitsui Financial Group, Inc. (SMFG) announced it will strengthen its presence in the U.S. with a new digital consumer banking business. Jenius Bank will launch and operate as a new division of Manufacturers Bank, a California state-chartered...
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August 25, 2022, 07:11 AM
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Funding Circle, a leading online small business lending platform, and Farm Bureau Bank, a financial institution focused on serving members of the Farm Bureau and their neighbors in rural communities, have announced a partnership to provide capital to...
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August 15, 2022, 07:05 AM
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Bank First Corporation, the holding company of Bank First, announced the signing of an Agreement and Plan of Merger with Hometown Bancorp, parent company of Hometown Bank, a Wisconsin state-chartered bank, under which Bank First has agreed to acquire...
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July 28, 2022, 06:00 AM
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First Citizens Bank announced its OneWest Bank division based in Southern California has completed its conversion to First Citizens’ operations and systems. This conversion integrates OneWest Bank customer accounts into First Citizens products and...
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July 19, 2022, 07:05 AM
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Reuters reported second quarter profits at large U.S. banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession.To read the full Reuters report, click here.
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July 11, 2022, 07:25 AM
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Brookline Bancorp has launched the Prolific Banking On-Ramp enrollment-as-a-service into production, providing automated enrollment of cash management customers.The turn-over to production follows an implementation project that benefited from a...
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May 20, 2022, 07:00 AM
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With the release of Nacha’s Top 50 financial institution ACH originators for 2021, Wells Fargo was confirmed as the top payment originator by volume on the Automated Clearing House (ACH) Network for the tenth consecutive year (historical data...
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May 17, 2022, 07:13 AM
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The National Bank of Coxsackie launched its new Small Business lending platform, NBC Express. Now, small businesses can apply for installment loans via this platform and the entire process, from application to funding, is completed in a digital...
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May 09, 2022, 06:59 AM
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PNC Bank announced the official opening of its North Texas Technology and Innovation Hub, the most recent tech-focused space it has opened across its coast-to-coast footprint, and the first hub of this type to be established in Texas. The hub will...
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April 25, 2022, 07:18 AM
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Cadence Bank announced its 2022-2026 Community Benefits Plan—developed in collaboration with the National Community Reinvestment Coalition (NCRC)—building on its longstanding commitment to support traditionally underserved communities, including low-...
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March 01, 2022, 07:06 AM
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Q2 Holdings, Inc., a provider of digital transformation solutions for banking and lending, released its 2022 State of Commercial Banking Market Analysis Report. The report, based on insights mined from Q2’s proprietary databases, is an annual review...
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February 01, 2022, 07:10 AM
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The October 2021 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the third...
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November 11, 2021, 07:07 AM
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The PNC Financial Services Group announced it is committing $20 billion over five years in support of environmental finance. This commitment is an extension of PNC's long-standing support for accelerating the transition to a low-carbon economy, and...
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August 20, 2021, 07:00 AM
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Webster Financial Corporation and Sterling Bancorp jointly announced that each company's stockholders have approved the proposed merger between Webster and Sterling at their respective special meetings of stockholders held today. The final voting...
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August 18, 2021, 06:00 AM
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Wells Fargo announced that Ruth Jacks has been named head of Data and Transformation for Commercial Banking. She joined the company June 14 and reports to Perry Pelos, head of Commercial Banking.In this newly created leadership role, Jacks is...
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June 17, 2021, 06:00 AM
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HSBC Bank USA is offering Sustainability-Linked Loans (SLL) that will enable U.S businesses to tie their borrowing to activities that support a more sustainable, resilient and prosperous world.HSBC SLLs are available in a variety of corporate loans...
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June 17, 2021, 05:42 AM
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Comerica Bank will commit $5 billion to small business lending over the next three years (2021-2023). Additionally, Comerica will expand RISE!, a program designed to support small businesses with a multitude of resources, as well as financial...
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May 06, 2021, 07:10 AM
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Byline Bancorp, Inc., the parent company of Byline Bank, announced plans to optimize its branch network as part of efforts to accommodate changing customer behaviors while also recognizing operating efficiencies. Byline Bank plans to consolidate 11...
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September 21, 2020, 07:17 AM
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From the third quarter Phoenix Management “Lending Climate in America” survey, results reveal lenders are increasingly pessimistic of the U.S. economy in both the near and long term.After a brief resurgence in Q2 2019, lenders displayed a more...
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October 21, 2019, 07:20 AM
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HSBC US Commercial Banking announced that it has teamed up with Neptune Financial (NepFin) to better serve the capital needs of middle market businesses in the United States. Through this partnership, firms doing business with NepFin will now be able...
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February 28, 2019, 07:10 AM
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Most large banks said that providing Open Banking services for their commercial clients is a key strategic initiative in their digital transformation programs, and many expect Open Banking to help them achieve double-digit revenue growth, according...
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December 07, 2018, 07:12 AM
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The Federal Deposit Insurance Corporation announced that the Deposit Insurance Fund Reserve Ratio reached 1.36 percent, exceeding the statutorily required minimum reserve ratio of 1.35 percent ahead of the Sept. 30, 2020, deadline required under the...
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November 30, 2018, 06:00 AM
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Despite widespread economic and business optimism among small business owners, many are feeling underappreciated by their banks. According to the J.D. Power 2018 U.S. Small Business Banking Satisfaction Study, just 37 percent of small business...
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November 01, 2018, 07:11 AM
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Ninety percent of U.S. bank chief executives (CEOs) are very confident about the growth prospects for their companies over the next three years, with mergers and acquisitions (M&A) and third-party strategic alliances helping fuel this growth...
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July 24, 2018, 07:20 AM
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The Independent Community Bankers of America (ICBA) thanked the Securities and Exchange Commission for issuing an ICBA-supported final rule reducing disclosure requirements for publicly held community bank holding companies. The unanimously approved...
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July 02, 2018, 07:00 AM
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Competitive pressures from banks and nonbanks are contributing to easing in underwriting, increasing the risk that sound pricing structures and practices may be compromised, according to a new report from the Office of the Comptroller of the Currency...
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May 30, 2018, 07:13 AM
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Cloud banking firm nCino announced TD Bank, America's Most Convenient Bank®, is adopting nCino's Bank Operating System across its corporate and commercial lending divisions in 2018 as part of a digital transformation.The first wave of TD Bank users...
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March 30, 2018, 06:40 AM
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A bill easing financial regulations for US small to mid-size banks is not likely to be a near-term ratings issue, but over time could have negative credit-profile implications for banks particularly as it relates to capitalization, liquidity, risk...
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March 26, 2018, 07:00 AM
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Bank lending to small businesses, a major contributor to local economies and job creation around the country, is still depressed several years after the end of the U.S. financial crisis that started in 2008, according to a new study by faculty at...
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January 24, 2018, 07:20 AM
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Independent Community Bankers of America (ICBA) President and CEO Camden R. Fine released the following statement on the tax reform conference report. “Following the tax reform conference committee’s release of its final report, ICBA and the nation’s...
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December 18, 2017, 07:03 AM
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Regions Financial Corporation announced that John M. Turner Jr. has been named President of Regions Bank and Regions Financial Corporation, its bank holding company. Turner, 56, is a Senior Executive Vice President, a member of the bank’s Executive...
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December 15, 2017, 08:00 AM
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Byline Bancorp and First Evanston Bancorp jointly announced that they have entered into a definitive agreement which provides for the acquisition by Byline of First Evanston in a cash and stock transaction valued at approximately $169 million. The...
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November 30, 2017, 07:16 AM
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The Board of Directors of Wells Fargo & Company announced it has elected three new independent directors as part of its succession planning and refreshment process. The three new directors, each of whom will join the board on Jan. 1, 2018...
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November 30, 2017, 07:13 AM
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OneWest Bank, CIT Group Inc.'s Southern California branch bank, announced it has been named the best bank in California on MONEY's Best Banks in America list. "OneWest Bank is committed to the Southern California community and delivering great...
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October 31, 2017, 06:31 AM
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Blumberg Capital's Annual FinTech Survey finds more than two-thirds of Americans are looking for banks to provide new FinTech solutions.
Consumers remain loyal to big banks despite a majority of Americans believing that traditional financial...
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October 12, 2017, 07:19 AM
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Risk in the portfolio of large syndicated bank loans declined slightly but remains elevated, according to the Shared National Credit (SNC) Program Review released by the Federal Reserve Board (Federal Reserve), the Federal Deposit Insurance...
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August 04, 2017, 07:25 AM
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HomeTrust Bancshares, the holding company of HomeTrust Bank ("Bank"), has announced the initiation of new SBA and Equipment Finance Commercial Lines of Business. HomeTrust Commercial Relationship Manager, Christopher McFatter, has been promoted to...
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July 24, 2017, 07:10 AM
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The Independent Community Bankers of America® (ICBA) told Congress that the role of community banks in advancing and sustaining the economic recovery is jeopardized by stifling regulatory burden. Testifying before the House Financial Services...
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July 13, 2017, 07:10 AM
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Signature Bank announced it was named the Gold Stevie® Award winner in two categories of The 15th Annual American Business Awards: Company of the Year - Banking – Large, and Company of the Year - Financial Services - Large categories. The American...
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June 29, 2017, 07:00 AM
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State Bank Financial Corporation, the holding company for State Bank and Trust Company, and AloStar Bank of Commerce announced the signing of a definitive agreement for State Bank to acquire AloStar in an all cash transaction with a purchase price of...
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June 16, 2017, 07:12 AM
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Financial and payment professionals do not anticipate any respite from cyber fraud and cyber attacks in the near future, according to a recent survey conducted by TD Bank. An overwhelming 91 percent of respondents stated they anticipate that payments...
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June 14, 2017, 07:12 AM
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President Donald Trump announced on Monday that he plans to nominate Joseph Otting -- a veteran of the commercial lending industry -- as Comptroller of the Currency, a division of the Treasury Department. Otting had a long career in financial...
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June 07, 2017, 07:20 AM
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Stearns Bank was named the No. 1 top-performing bank in the country. Stearns earned the recognition in the June 2017 edition of American Banker Magazine, which ranked the top-performing banks in the $2 to $10 billion asset class based on return on...
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June 07, 2017, 07:15 AM
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In a move to further strengthen its capabilities and local market presence, Wells Fargo’s Business Banking Group (BBG), part of Wells Fargo & Company, announced it has moved from three to seven regions, with a banking leader appointed for each. With...
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June 06, 2017, 07:07 AM
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More than 100 community bankers and staff from the Independent Community Bankers of America® (ICBA) on May 1, 2017 met with President Donald Trump and other top administration officials at the White House as part of the 2017 ICBA Capital Summit. In...
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May 02, 2017, 07:18 AM
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BMO Harris Bank announced a partnership with 1871 – a leading technology and entrepreneurship ecosystem which is currently home to nearly 500 high-growth digital startups in the Merchandise Mart – that will provide a select group of FinTech startups...
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April 24, 2017, 06:58 AM
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The Independent Community Bankers of America® (ICBA) reiterated its concerns with the Office of the Comptroller of the Currency’s proposal to grant special-purpose bank charters to unregulated financial technology companies. In a comment letter on...
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April 17, 2017, 07:15 AM
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Most U.S. banks should see an earnings boost from a rising interest rate environment over the next several years, according to Fitch Ratings. However, not all banks will be beneficiaries, and the potential impact will depend on individual bank's...
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April 14, 2017, 07:08 AM
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Fifth Third Bank announced an investment and expanded partnership with the Accion U.S. Network - the largest network of nonprofit small business lenders in the United States - to support lending to underserved small businesses in Florida, Indiana...
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April 14, 2017, 07:04 AM
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PacWest Bancorp and CU Bancorp announced the signing of a definitive agreement and plan of merger (the “Agreement”) whereby PacWest will acquire CU Bancorp in a transaction valued at approximately $705 million.CU Bancorp, headquartered in Los Angeles...
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April 06, 2017, 07:18 AM
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Signature Bank announced it was named Best Commercial Bank of the Year in the United States in the International Banker 2017 North and South American Awards. The International Banker annual banking awards were established to identify leading banking...
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March 31, 2017, 07:10 AM
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Wells Fargo announced that it has reached an agreement in principle to settle a class action lawsuit concerning retail sales practices, which was filed in May 2015 in the Northern District of California (Jabbari v. Wells Fargo, N.A., et al.). The...
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March 30, 2017, 07:12 AM
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At $4.4 trillion in trade payables, term loans, and working capital loans, private-company credit represents one of the largest credit markets in the U.S. Today, C&I lending represents about 25% of all loans, down from over 40% in 1950. According...
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March 15, 2017, 07:02 AM
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KeyBank has re-established its Boston commercial banking office and announced its full market team, which includes Boston market leader Jed Hall, Ethan Powell, senior vice president, commercial banking; and Matthew Quinn, vice president, commercial...
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March 03, 2017, 07:14 AM
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SunTrust Banks is appointing key leaders to new roles as the company streamlines its business segments to boost performance and advance its purpose of Lighting the Way to Financial Well-Being for its clients. The appointments are effective April...
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February 27, 2017, 07:19 AM
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Financial research firm Greenwich Associates named Huntington one of the nation's top banks for businesses with the presentation of 17 Greenwich Excellence Awards. Huntington stood out among top middle-market banks that Greenwich Associates notes are...
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February 17, 2017, 07:02 AM
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Pacific Western Bank (PWB) has launched a Tax-Exempt Lending Group to focus on the capital needs of municipalities, schools and school districts, non-profits and other issuers of tax-exempt debt. This group will add to the bank’s already diverse...
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February 15, 2017, 07:15 AM
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As the national economy continues to grow, demand is on the rise for loans and financial services to support small business development. In response to this need, TD Bank, America's Most Convenient Bank®, is significantly expanding its small business...
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February 15, 2017, 07:14 AM
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In an effort to increase understanding of the credit process for small businesses, Wells Fargo announced the launch of the Wells Fargo Works for Small Business® Business Credit Center, a new holistic resource that provides tools to help empower small...
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February 08, 2017, 07:00 AM
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Flushing Financial Corporation (the “Company”), the parent holding company for Flushing Bank (the “Bank”), announced that it has joined the Small Business Loan Program created by BancAlliance and Fundation.The Small Business Loan Program introduces a...
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February 03, 2017, 07:30 AM
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City National Bank announced that it has expanded its capabilities in New York by assembling a team of experienced managers and bankers to serve middle-market companies in the New York metropolitan area. The team is focused on delivering a full...
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February 03, 2017, 07:15 AM
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Reuters reported that Citigroup has launched a website to make small business loans of up to $1 million. According ot the Reuters report, Citigroup's entrance into online lending comes after similar moves by several other banks including JPMorgan...
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January 30, 2017, 07:11 AM
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Fifth Third Bancorp announced an innovative partnership between Fifth Third Capital Holdings, LLC and leading financial technology (fintech) venture capital firm QED Investors. Under the exclusive partnership, QED Investors will advise on the...
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January 23, 2017, 08:00 AM
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The Independent Community Bankers of America® (ICBA) expressed strong concerns with an Office of the Comptroller of the Currency proposal to grant special-purpose bank charters to unregulated financial technology companies. In a comment letter on the...
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January 23, 2017, 07:11 AM
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Seeking to better align its international banking services with the customers they serve, Wells Fargo & Company announced that its International Group will be integrated into other Wholesale Banking business lines, enhancing how they serve middle...
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January 20, 2017, 07:07 AM
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Financial research firm Greenwich Associates recently named Huntington one of the top banks for businesses nationally with the presentation of Greenwich Best Brand Awards for ease of doing business with middle-market companies and small businesses...
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January 13, 2017, 07:16 AM
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Citizens Bank announced that it will offer digital lending capabilities to small business customers through a collaboration with Fundation Group LLC, a leading digitally-enabled lender and credit solutions provider to regional and community banks....
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December 21, 2016, 07:20 AM
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From the fourth quarter Phoenix Management "Lending Climate in America" Survey, results shows a positive outlook on the U.S. economy in both the near and long term. Lenders confidence on how they expect the U.S. economy to perform beyond the next 6...
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December 19, 2016, 07:40 AM
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Moody's has published a comment in thier Credit Outlook that the announcement by the U.S. OCC that it would begin accepting special-purpose bank charter applications from fintech companies is credit positive for marketplace loan ABS.According to...
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December 09, 2016, 07:09 AM
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U.S. Bank has been named a Best Brand for Small Business and for Middle Market Banking by leading consulting and research firm Greenwich Associates. U.S. Bank is among eight banks that won national Best Brand Overall awards in both the small business...
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December 06, 2016, 07:05 AM
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Comptroller of the Currency Thomas J. Curry announced that the Office of the Comptroller of the Currency (OCC) would move forward with considering applications from financial technology (fintech) companies to become special purpose national...
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December 05, 2016, 07:15 AM
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Wells Fargo & Company announced that its Board of Directors has amended the Company’s By-Laws to require the separation of the Chairman and CEO roles and for the Chairman and Vice Chairman of the Board to be independent directors. The Board approved...
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December 02, 2016, 07:10 AM
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The October 2016 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months. This summary discusses the...
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November 14, 2016, 07:14 AM
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Wells Fargo & Company announced that Chairman and Chief Executive Officer John Stumpf has informed the Company’s Board of Directors that he is retiring from the Company and the Board, effective immediately. The Board has elected Tim Sloan, the...
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October 13, 2016, 07:15 AM
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The Independent Community Bankers of America® (ICBA) urged the Consumer Financial Protection Bureau (CFPB) to recognize the significant differences between community banks and other lenders by exempting community banks from any rule governing payday...
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October 11, 2016, 07:00 AM
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Crestmark Bank, now in its 20th year, made Inc. magazine’s 2016 list of America’s Fastest Growing Private Companies in the U.S. For its third appearance on the annual list, Crestmark ranked 58th among the fastest-growing companies in Metro-Detroit...
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October 06, 2016, 07:03 AM
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GreenSky, LLC, announced a groundbreaking partnership with Fifth Third Bancorp designed to add significant strategic value to both organizations and their customers. The comprehensive agreement enables Fifth Third to originate loans through...
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September 15, 2016, 07:20 AM
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Huntington Bancshares Incorporated announced it has closed its acquisition of FirstMerit Corporation and is now operating as one company, having merged FirstMerit Bank into The Huntington National Bank."Huntington's acquisition of FirstMerit expands...
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August 16, 2016, 07:00 AM
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EverBank Financial Corp announced its financial results for the second quarter ended June 30, 2016. The Company also announced that as a result of an ongoing review of its strategic alternatives it is in advanced negotiations with a well-respected...
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July 28, 2016, 07:17 AM
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Bloomberg reports EverBank Financial Corp., the largest bank based in Florida by deposits, is exploring a sale after receiving interest from a potential suitor. This is according to people familiar with the matter.Bloomberg says the...
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July 26, 2016, 07:19 AM
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As Scottrade Financial Services continues to evolve its business, the firm today announced that it reached key growth milestones at Scottrade Investment Management and Scottrade Bank. Scottrade Investment Management, the registered investment advisor...
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July 22, 2016, 07:17 AM
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The FASB's new standard on accounting for credit losses on financial instruments will affect U.S. banks' reserving practices, says Fitch Ratings. However, it will be manageable as banks have adequate time to prepare for implementation. The new...
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July 21, 2016, 07:13 AM
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Arbor Bancorp, Inc., the holding company for Bank of Ann Arbor (“Arbor”), and Birmingham Bloomfield Bancshares, Inc., the holding company for Bank of Birmingham (“Birmingham”), announced they have entered into a definitive agreement for Arbor to...
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July 21, 2016, 07:00 AM
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Regional and community bankers are upbeat about progress they are making to transform their businesses to attract new customer segments, and have made a dramatic “about face” toward investing in organic growth to fuel their future, according to...
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July 20, 2016, 07:08 AM
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Twelve percent of banking CEOs surveyed say they do not have insight into whether their institution’s security has been compromised by a cyber attack in the past two years, according to KPMG, the audit, tax and advisory firm. KPMG’s 2016 Banking...
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June 06, 2016, 07:28 AM
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From the second quarter Phoenix Management “Lending Climate in America” Survey, results shows a positive long term economy outlook with lenders becoming more optimistic about the U.S. economy in the next 6-12 months.The 2Q 2016 survey results...
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May 27, 2016, 07:16 AM
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Wells Fargo announced the launch of FastFlex Small Business Loan, an online, fast-decision loan that is funded as soon as the next business day and offers a competitive interest rate to small businesses with short-term credit needs. An innovation...
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May 11, 2016, 07:05 AM
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The online alternative finance market, including crowdfunding and peer-to-peer lending, is exploding in the U.S., generating more than $36 billion in funding in 2015, up from $11 billion in 2014, according to a new report published by KPMG, the...
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April 12, 2016, 07:18 AM
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Wells Fargo announced that Thomas (Tom) DuCharme has been named the new head of its Global Banking division. In his role, DuCharme will manage the sales and product development for Wells Fargo’s Global Banking operations. He is based in New York and...
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March 18, 2016, 07:16 AM
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Western Independent Bankers (WIB), a trade association which markets to over 600 community and regional banks, announced that it will partner with Bizfi, a financial technology company that provides a wide range of financing options for small...
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March 18, 2016, 07:12 AM
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Fortune magazine named U.S. Bancorp the most admired superregional bank today, the sixth consecutive year that it has topped the list. “Integrity and ethics are fundamental to how we do business," said Richard Davis, chairman and chief executive...
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February 22, 2016, 07:03 AM
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Pacific Mercantile Bank, the wholly owned subsidiary of Pacific Mercantile Bancorp announced that it is now participating in the California State Small Business Loan Guarantee Program (“SBLGP”), as part of the Bank’s efforts to expand the amount of...
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January 29, 2016, 07:00 AM
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Univest Bank and Trust Co. is expanding its commitment to small businesses with the creation of a lending team dedicated to supporting small businesses in Greater Philadelphia and the Lehigh Valley. With big banks taking the place of community banks...
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January 28, 2016, 07:17 AM
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Huntington Bancshares Incorporated and FirstMerit Corporation jointly announced the signing of a definitive merger agreement under which Ohio-based FirstMerit Corporation, the parent company of FirstMerit Bank, will merge into Huntington in a stock...
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January 26, 2016, 07:37 AM
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Wintrust Financial Corporation announced the signing of a definitive agreement to acquire Generations Bancorp, Inc. (“Generations”). Generations, headquartered in Pewaukee, Wisconsin, is the parent company of Foundations Bank, a Wisconsin...
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January 15, 2016, 07:33 AM
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Banc of California announced it has been named by Forbes Magazine to the 2016 list of the Best Banks in America. To compile its ranking, Forbes analyzed 10 metrics using data from SNL Financial in order to rank the 100 largest publically traded banks...
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January 14, 2016, 07:03 AM
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The country’s biggest banks have established themselves as the strongest brands among U.S. middle market companies—a segment that is growing in the form of increased demand for credit and other banking services. Meanwhile, the list of strongest bank...
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December 03, 2015, 07:09 AM
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TCF National Bank (TCF Bank) announced a renewal of its contract with First Data Corporation to provide payment solutions to small and medium-sized businesses (SMBs). First Data is a global leader in commerce-enabling technology and solutions and its...
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December 01, 2015, 07:00 AM
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Signature Bank announced that President and Chief Executive Officer Joseph J. DePaolo was named the recipient of the Alfred B. DelBello Visionary Award by the Westchester County Association, the leading business membership organization in Westchester...
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November 30, 2015, 07:06 AM
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KeyCorp (NYSE: KEY) and First Niagara Financial Group (NASDAQ: FNFG) announced today that they have entered into a definitive agreement under which KeyCorp will acquire First Niagara in a cash and stock transaction for total consideration valued at...
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October 30, 2015, 07:18 AM
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Reuters reported that Toronto-Dominion Bank has begun laying off staff in Canada and the United States as part of a company-wide initiative to cut costs, according to two sources familiar with the matter. According to the Reuters report, TD, Canada’s...
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October 19, 2015, 07:17 AM
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Bank of Ann Arbor has been named one of American Banker’s Best Banks to Work For in the United States for the second time in the last three years. The program was initiated in 2013 to identify, recognize, and honor the best banks to work for in the...
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October 06, 2015, 07:00 AM
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Now that the Fed has maintained its near-zero target rate, most U.S. banks will remain very attentive to their cost structures given the expectation of flat to lower asset yields going forward, says Fitch Ratings. Moreover, Fitch expects many highly...
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September 21, 2015, 07:04 AM
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The Biz2Credit August Small Business Lending Index dropped by 0.1 points for big and small banks, an indication that the SBA budget scare effected growth in loan demand. Another key finding of the monthly analysis of 1,000 loan applications from...
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September 10, 2015, 07:00 AM
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Opus Bank announced that the Small Business Administration (“SBA”) has issued a “Green Light” letter inviting Opus to continue its application process to obtain a license to form and operate a Small Business Investment Company (“SBIC”).“The SBIC will...
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August 31, 2015, 06:55 AM
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GE announced an agreement to sell GE Capital Bank’s U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (“GS Bank”). Under this agreement...
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August 14, 2015, 07:27 AM
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Small business loan approval rates at big banks and institutional lenders improved to new post-recession highs in June 2015, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications on...
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July 16, 2015, 07:09 AM
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Small business loan approval rates at big banks and institutional lenders improved to new highs in May 2015, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications on Biz2Credit.com. Big banks ($10...
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June 10, 2015, 07:03 AM
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The Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine sent a letter to Federal Reserve Chair Janet Yellen, Comptroller of the Currency Thomas Curry, FDIC Chairman Martin Gruenberg, Securities and Exchange Commission...
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June 02, 2015, 07:07 AM
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From the second quarter Phoenix Management "Lending Climate in America" Survey, results showed increased expectations for the performance of the domestic economy over the next six months while the long term expectations fell. In Q2 2015, the lenders...
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May 29, 2015, 07:06 AM
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Nearly 1,000 community bankers and industry advocates gathered in Washington on April 28, 2015 for the Independent Community Bankers of America® (ICBA) annual Washington Policy Summit, which runs through Thursday. Community bankers from across the...
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April 29, 2015, 07:00 AM
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Small business loan approval rates at big banks and institutional lenders continue to improve, attaining new post-recession highs in March 2015, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications...
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April 14, 2015, 07:36 AM
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According to a report from Greenwich Associates, for the past two years, small businesses and mid-sized companies have become increasingly happy about the status of their banking relationships. For qualified borrowers, credit has been widely...
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March 30, 2015, 07:03 AM
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The Independent Community Bankers of America® (ICBA) told Congress that excessive financial regulations have crossed a line by harming the customers they are supposed to protect. By cutting off access to credit to creditworthy borrowers, regulatory...
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March 23, 2015, 07:00 AM
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Small business loan approval rates at big banks and institutional lenders continue to improve, attaining new post-recession highs in February 2015, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan...
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March 18, 2015, 07:18 AM
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Fortune magazine named U.S. Bancorp the most admired superregional bank today, the fifth consecutive year that U.S. Bancorp has topped the list. “We are proud to have been named Fortune’s most admired superregional bank for the fifth consecutive year...
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February 20, 2015, 07:19 AM
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Small business loan approval rates by big banks and institutional lenders reached post-recession highs in January 2015, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications on Biz2Credit.com. Big...
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February 12, 2015, 07:00 AM
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First National Bank of Pennsylvania, the largest subsidiary of F.N.B. Corporation, has appointed Frank Krieder as Regional President for the Bank's Northwest Region, serving eight counties in northwestern Pennsylvania and northeastern Ohio. As...
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February 09, 2015, 07:00 AM
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From the fourth quarter Phoenix Management "Lending Climate in America" Survey, results show a changing lending environment. For the first time since Q4 2010, more lenders expect their financial institution to tighten their loan structures than relax...
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January 19, 2015, 07:15 AM
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Small business loan approval rates by big banks and institutional lenders reached post-recession highs in December 2014, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on Biz2Credit.com. Big...
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January 15, 2015, 07:05 AM
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Signature Bank, a New York-based full-service commercial bank, announced today that it was named the best bank in America by Forbes in the publication’s annual list of America’s Best and Worst Banks 2015. Signature Bank has consistently appeared on...
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January 06, 2015, 07:05 AM
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Accelerating loan growth accompanied by eased underwriting is a leading concern for U.S. banks in the Office of the Comptroller of the Currency's (OCC) semiannual Risk Perspective Report released last week. The report, a review of key risks facing...
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December 30, 2014, 07:12 AM
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The Independent Community Bankers of America (ICBA) applauded President Barack Obama for signing into law an ICBA policy priority that will promote additional lending on Main Street by improving community bank and thrift access to capital. The law...
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December 29, 2014, 07:00 AM
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Bruce Van Saun, Chairman and CEO of Citizens Financial Group issued the following statement this morning:“It is with deep sadness that I announce that Robert Matthews, Vice Chairman of Commercial Banking and a member of the Citizens Financial Group...
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December 22, 2014, 07:08 AM
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Small business loan approval rates at big banks ($10 billion+ in assets) bounced back in November to 20.8% after a setback month in October, according to the November 2014 Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan...
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December 11, 2014, 07:12 AM
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Small business loan approval rates at big banks dropped for the first time in seven months, according to the October 2014 Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on Biz2Credit.com. Small business loan...
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November 12, 2014, 07:03 AM
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The credit quality of large loan commitments owned by U.S. banking organizations, foreign banking organizations (FBOs), and nonbanks is generally unchanged in 2014 from the prior year, federal banking agencies said Friday. In a supplemental report...
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November 11, 2014, 07:02 AM
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From the third quarter Phoenix Management "Lending Climate in America" Survey, results show that lenders are concerned with U.S. housing market and the stability of the stock market. When asked to choose two factors that could have the strongest...
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November 05, 2014, 07:00 AM
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Small business loan approval rates at big banks reached a post-recession high for the third consecutive month, according to the August 2014 Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications on Biz2Credit.com....
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September 10, 2014, 06:00 AM
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According to the latest Wells Fargo/Gallup Small Business Index, more small business owners say their company’s current financial situation is good, yet their outlook for the next year has not changed significantly.
In a quarterly small business...
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August 07, 2014, 07:00 AM
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Small business loan approval rates at big banks hit a post-recession high for the second consecutive month, according to the July 2014 Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications on Biz2Credit.com. Small...
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August 07, 2014, 06:00 AM
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Faced with losing market share to non-traditional competitors, senior bank executives say they are squarely focused on improving the customer experience and transforming their businesses at the strategic, operational and structural level, according...
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July 29, 2014, 07:00 AM
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According to a Bloomberg report, CIT Group will provide Steven T. Mnuchin, the chairman of OneWest Bank's parent IMB Holdco, LLC, an annual target compensation package of $4.5 million. Bloomberg reports that Mnuchin will get a salary of at least $750...
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July 28, 2014, 07:06 AM
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Citigroup announced that it has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities (RMBS) Working Group, part of the Financial Fraud Enforcement Task Force. The agreement resolves actual and...
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July 15, 2014, 07:00 AM
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Big banks are now approving one-in-five small business loan applications, a post-recession high, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications on Biz2Credit.com for June 2014. Meanwhile...
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July 09, 2014, 07:02 AM
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Small business loan approval rates at big banks ($10 billion+ in assets) rose to 19.6% in May 2014, up from 19.4% in April, while approval rates at small banks jumped to 51.6% from 51.1% from last month, according to the Biz2Credit Small Business...
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June 13, 2014, 07:02 AM
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From the second quarter Phoenix Management "Lending Climate in America" Survey, results show that lenders sentiment towards U.S. commercial lending was equal to last quarter’s strong reading of forty-five percent. The high level of confidence in...
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June 13, 2014, 07:00 AM
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The Federal Deposit Insurance Corporation (FDIC) released a research study on long-term consolidation in banking and the implications of this trend for community banks. Drawing from data over the last thirty years, the paper finds that community...
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April 14, 2014, 07:29 AM
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U.S. banks and credit unions, preparing for proposed changes to how they must estimate credit losses, anticipate they’ll eventually need to boost allowances for loan and lease losses by up to 50 percent, according to a new survey by Sageworks, a...
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March 14, 2014, 07:01 AM
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Small business loan approval rates at big banks ($10 billion+ in assets) increased to a new high of 17.8% in January 2014, up from 17.6% in December 2013, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan...
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February 13, 2014, 07:03 AM
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Capital One Financial Corporation announced that it has been named one of the 2014 “NAFE Top Companies for Executive Women” by the National Association for Female Executives (NAFE), which honors American corporations that identify and promote...
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February 13, 2014, 06:37 AM
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Announces Plans to Hire More Than 200 Additional Small Business Bankers in 2014Bank of America announced that it extended $10.9 billion in new loans to small businesses in 2013 – a 26 percent increase over 2012. In addition, the bank has seen new...
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February 05, 2014, 06:40 AM
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First South Bank (wholly owned subsidiary of First South Bancorp, Inc.), announced the opening of a new Leasing Production Office ("LPO") by its wholly owned subsidiary, First South Leasing, LLC, located in Charlotte, North Carolina. The LPO opened...
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February 05, 2014, 06:30 AM
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Signature Bank, a New York-based full-service commercial bank, announced that it was named the second best bank in the country by Forbes in its annual list of the Best Banks in America. Signature Bank’s position advanced one notch to the second slot...
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January 06, 2014, 07:04 AM
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Fannie Mae has reached a $591 million agreement with Wells Fargo to resolve repurchase requests on certain loans originated prior to 2009. After adjustments for prior repurchases, Wells Fargo will pay Fannie Mae $541 million in the fourth quarter of...
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December 31, 2013, 06:30 AM
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The Independent Community Bankers of America (ICBA) said it remains deeply concerned with Volcker Rule provisions requiring banks to permanently write down their holdings of collateralized debt obligations (CDOs) backed by trust-preferred securities...
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December 30, 2013, 07:01 AM
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Small business loan approvals at big banks ($10 billion+ in assets) increased to 17.4% in November 2013 from 14.3% in October, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on Biz2Credit.com....
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December 12, 2013, 06:50 AM
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According to the latest annual risk report released by The Boston Consulting Group (BCG), whether a bank prevails in global competition will be determined, in large part, by its ability to adapt proactively to relentless waves of regulation.The...
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November 20, 2013, 06:30 AM
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The October 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months. Domestic banks, on balance, reported...
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November 18, 2013, 06:53 AM
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From the first quarter Phoenix Management “Lending Climate in America” Survey, results show that lenders have shifted lending expectations from negative to positive. When asked about domestic lending, 48% of lenders feel that it will increase in the...
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October 24, 2013, 07:06 AM
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AloStar Bank of Commerce has announced the launch of AloStar Source, a comprehensive program designed to support community and mid-sized banks nationwide, seeking to offer middle market businesses access to more working capital. Three...
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October 18, 2013, 06:36 AM
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Beth Mooney, the Chairman and CEO of KeyCorp , has been named No. 1 on American Banker's prestigious "The 25 Most Powerful Women in Banking" list.In addition to Mooney's recognition, Maria Coyne, Executive Vice President, Branch Network, was ranked...
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September 19, 2013, 06:32 AM
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The July 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months. The survey also contained special...
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August 09, 2013, 06:56 AM
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Small business loan approvals at big banks ($10 billion+ in assets) and credit unions all dipped slightly in June 2013, while approval rates inched higher at small banks and alternative lenders, according to the Biz2Credit Small Business Lending...
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July 11, 2013, 06:52 AM
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Reuters reported that U.S. banks have given a proposal to federal regulators on how to pay for restructuring the country's too-big-to-fail institutions in the event of a future crisis, the Wall Street Journal reported, citing people familiar with the...
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June 24, 2013, 06:56 AM
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Small business loan approvals at big banks rose to a new high of 17.3%, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on Biz2Credit.com. Further, loan approvals at big banks experienced...
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June 13, 2013, 06:54 AM
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According to a Reuters report, U.S. banks reported $1.53 trillion in commercial and industrial loans in the first quarter, reflecting a 12% gain year-over-year following double-digit gains in 2011 and 2012.However, according to the report, some...
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June 11, 2013, 06:39 AM
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Small business loan approvals improved to an all-time index high of 16.8% at big banks, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on Biz2Credit.com. Lending approvals jumped in April after...
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May 10, 2013, 07:10 AM
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Wells Fargo & Company said it is hiring more bankers to serve small businesses through its banking stores and has introduced two new secured credit products for business owners. To support the growth and success of U.S. small businesses, Wells Fargo...
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May 09, 2013, 07:00 AM
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National Bank Holdings announced it has formed a new specialty finance division, NBH Capital Finance. Chris Randall, previously the founder and Head of specialty lending business, CoBiz Structured Finance in Denver, will lead the group. Headquartered...
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May 09, 2013, 06:50 AM
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According to the April 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices issued by The Federal Reserve Board, domestic banks, on balance, reported having eased their lending standards and having experienced stronger demand in several...
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May 07, 2013, 07:10 AM
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Small business loan approval rates increased for the fourth consecutive month at small banks, reaching an all-time index high of 50.8%, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on...
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April 11, 2013, 07:00 AM
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Bill Loving, chairman of the Independent Community Bankers of America (ICBA) and president and CEO of Pendleton Community Bank in Franklin, W.Va., and Camden R. Fine, president and CEO of ICBA, issued this statement following the Senate Permanent...
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March 18, 2013, 07:17 AM
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According to Fitch Ratings, approval of a Financial Accounting Standards Board (FASB) proposal on the treatment of credit losses for loans and other financial assets could eventually force U.S. banks to book expected losses early, putting pressure on...
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March 14, 2013, 07:15 AM
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Small business loan approval rates at big banks ($10B+ in assets) in February 2013 increased to 15.9%, up from the 15.3% rate in January, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on...
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March 13, 2013, 07:23 AM
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According to Bloomberg, the Federal Reserve said 17 of the 18 largest U.S. banks could withstand a deep recession and maintain capital above a regulatory minimum.According to the report, only Ally Financial Inc., the auto lender majority-owned by U.S...
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March 08, 2013, 07:19 AM
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Bloomberg reported the biggest U.S. banks including JPMorgan Chase & Co. and Citigroup Inc. are lending the smallest portion of their deposits in five years. The reports cites data compiled by Credit Suisse Group AG which shows the average...
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February 21, 2013, 07:29 AM
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Small business loan approval rates at big banks ($10B+ in assets) in January 2013 increased to 15.3%, up from the 14.9% rate in December 2012, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on...
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February 08, 2013, 07:00 AM
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The January 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. This summary is based on responses from 68 domestic...
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February 06, 2013, 07:20 AM
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Fifth Third Bank announced that it has extended more than $13 billion in new and renewed credit to business customers from October through December 2012. During 2012, Fifth Third Bank lent nearly $34 billion to businesses throughout its footprint....
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January 21, 2013, 07:35 AM
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The Federal Reserve Board has proposed rules to strengthen the oversight of U.S. operations of foreign banks. The proposal would require foreign banking organizations with a significant U.S. presence to create an intermediate holding company over...
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December 17, 2012, 07:00 AM
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In the 2012 KPMG Community Banking Outlook Survey, 47% of respondents identified regulatory and legislative pressures as the most significant barrier to growth over the next year, while 35% said regulatory compliance costs were having the greatest...
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November 28, 2012, 07:16 AM
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According to a news release from Fitch Ratings, the firm believes that loan loss reserve releases by U.S. banks will continue, albeit at a declining pace as banks begin to approach normalized provisioning and net chargeoffs. After building up...
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November 15, 2012, 07:14 AM
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Bloomberg reported U.S. Bancorp, the nation’s fifth- largest commercial lender by deposits, may be cut one level by Moody’s Investors Service as rivals recover and pose stiffer competition. According to the report, the bank could be cut one level to...
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September 21, 2012, 07:47 AM
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Fortune magazine named Beth Mooney, KeyCorp Chairman and CEO, in the 2012 list 50 Most Powerful Women in Business. This is the second time Fortune has tapped Mooney for this prestigious ranking.Fortune cited Mooney's position as the only female CEO...
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September 21, 2012, 06:49 AM
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According to a Bloomberg poll, LIBOR will be replaced by a benchmark subject to greater government control, according to a poll of global investors. Forty-four percent of those responding to a quarterly Bloomberg Global Poll said Libor will be...
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September 07, 2012, 07:31 AM
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Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $34.5 billion in the second quarter of 2012, a $5.9 billion improvement from the $28.5 billion in profits the...
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August 29, 2012, 07:00 AM
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Bloomberg reported M&T Bank’s $3.7 billion takeover of Hudson City Bancorp, the largest bank deal announced this year, solidifies the Buffalo, New York-based lender’s status as a hunter instead of the hunted. With Hudson City, M&T probably will rank...
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August 28, 2012, 07:30 AM
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Less than one third (27.5%) of bankers believe their local economy will improve in the next six months, according to Grant Thornton LLP’s annual Bank Executive Survey, conducted in conjunction with Bank Director. The results reflect a steep drop from...
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August 17, 2012, 07:33 AM
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The July 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. This summary is based on responses from 64 domestic...
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August 09, 2012, 07:38 AM
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Bloomberg reported that the Federal Reserve and Chairman Ben Bernanke may be taking another look at cutting the interest rate the Fed pays on bank reserves to bring down short-term borrowing costs and spur the slowing U.S. expansion. According to the...
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July 30, 2012, 07:00 AM
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The Independent Community Bankers of America (ICBA) expressed strong concerns with proposed rules to implement Basel III capital standards in a meeting with Federal Reserve officials. In a meeting this week with Federal Reserve Governor Elizabeth...
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July 16, 2012, 07:17 AM
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Bloomberg reported that JPMorgan Chase & Co. reported a larger than previously estimated $4.4 billion trading loss in its chief investment office, which helped drive second-quarter profit down 9%. The bank’s chief executive officer, Jamie Dimon had...
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July 13, 2012, 07:21 AM
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Reuters reported that nine of the largest global banks expressed confidence they can be salvaged or dismantled without taxpayer bailouts if they became insolvent, as U.S. regulators released public portions of these banks' "living wills".According to...
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July 05, 2012, 08:00 AM
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Bloomberg reported that Robert Diamond, chief executive officer of Barclays, sought to blame other banks for misleading markets about their ability to borrow and regulators for turning a blind eye.According to the report, Diamond said he was...
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July 05, 2012, 07:30 AM
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Reuters reported Barclays CEO Bob Diamond quit on Tuesday related to the interest rate-rigging scandal that spans more than a dozen major banks across the world.According to the report, Diamond's resignation was effective immediately and outgoing...
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July 03, 2012, 06:28 AM
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Reuters reported that Britain said on Thursday it had brought in the fraud squad to investigate possible crimes and would tighten laws over attempts to manipulate lending rates resulting from the recent scandal involving Barclays, which is expected...
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June 29, 2012, 08:00 AM
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Bloomberg reported that JPMorgan Chase’s trading losses from credit derivatives trading may total as much as $9 billion according to a report issued by the New York Times. On May 10, JPMorgan Chief Executive Officer Jamie Dimon reported the bank lost...
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June 28, 2012, 07:45 AM
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Reuters reported that five of the largest U.S. banks are crafting plans for going out of business as part of the government-mandated contingency planning created by the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts from the...
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June 27, 2012, 08:00 AM
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According to a Bloomberg report, the largest U.S. banks are extending less credit while regional lenders are stepping in to fill the gap.The reports cites data compiled by Bloomberg Lending which reveals total loans at the four largest U.S. Banks...
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June 26, 2012, 07:40 AM
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Alliance Partners, the asset manager for the pioneering BancAlliance network which has grown to include 56 banks across the country, announced today the addition of an established equipment finance lending team to complement the existing corporate...
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June 26, 2012, 06:15 AM
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The following is an excerpt of the press release issued by Moody's Investors Service.New York, June 21, 2012 – Moody's Investors Service today repositioned the ratings of 15 banks and securities firms with global capital markets operations. The...
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June 22, 2012, 07:45 AM
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Alliance Partners, the asset manager for the pioneering BancAlliance bank network, announced today that it has completed a $150 million capital raise that will support BancAlliance by delivering a broader range of commercial loans and other products...
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June 20, 2012, 06:30 AM
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Bloomberg reported that Congress’s recent inquiry into the JPMorgan Chase & Co. $2 billion trading loss has again brought to light the question of whether banks can grow too large and complex for their executives to effectively oversee. According to...
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June 19, 2012, 07:55 AM
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Bloomberg reported JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon told Congress the bank let traders take risks they didn’t understand, but did not answer questions about more than $2 billion in trading losses.According to the report, Dimon...
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June 13, 2012, 07:40 AM
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Commercial and industrial (C&I) lending by U.S. financial institutions expanded again in the first quarter, but loan balances are growing at a slower rate as business confidence continues to lag in an uneven economic growth environment and...
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June 01, 2012, 07:30 AM
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According to the IBSWorld Commercial Banking in the U.S.: Market Research Report, in the five years to 2012, commercial banking industry revenue is expected to grow 2.0% annually on average. According to the FDIC, commercial banks are starting to...
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May 29, 2012, 07:00 AM
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Bloomberg reported JPMorgan Chase & Co. lost about $2 billion on synthetic credit securities after an “egregious’” failure in its chief investment office, which the bank says focuses on hedging. Bloomberg News first reported April 5 that London-based...
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May 11, 2012, 08:00 AM
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Bloomberg reported that Moody’s Investors Service will start cutting the credit ratings of more than 100 banks this month, a move that risks pushing up their funding costs and forcing them to curb lending in a threat to economic growth.
According to...
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May 09, 2012, 07:30 AM
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The April 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. This summary is based on responses from 58 domestic...
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May 07, 2012, 08:00 AM
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The New York Times reported that Moody’s Investor Service said it will decide in mid-May whether to lower the credit ratings of 17 global financial companies. The report cites Morgan Stanley to be the most vulnerable and that Moody’s may cut the...
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March 30, 2012, 08:15 AM
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KeyBank has surpassed its goal to provide $3 billion in loans to women-owned businesses by April, 2012 – three months ahead of its target. Key's achievement included loans to businesses of all sizes. Since 2005, Key has lent more than $6 billion to...
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March 06, 2012, 06:00 AM
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Bloomberg reported that Bank of America, the second largest lender by assets may reduce annual costs by as much as an additional $3 billion in the next stage of chief executive officer Brian T. Moynihan’s efficiency plan.According to the article, B...
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January 24, 2012, 06:30 AM
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Bloomberg reported Bank of America’s, Goldman Sachs’ and Citigroup’s credit grades were cut by Fitch Ratings as the impact of financial regulation and market turmoil weighed on the industry. According to the report, each lenders’ long-term issuer...
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December 16, 2011, 08:00 AM
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U.S. government financial support and the potential for future support for banks is declining, although not entirely eliminated, according to a Fitch Ratings report. In conjunction with this report, Fitch has taken rating actions resolving the...
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December 16, 2011, 07:00 AM
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Bloomberg Businessweek reported U.S. bank credit is growing at the fastest pace in three years, giving the Federal Reserve confidence in the economic expansion's staying power.According to the report, financial institutions increased commercial and...
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December 12, 2011, 07:30 AM
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NASDAQ reported Standard & Poor's Ratings Services said it reviewed its ratings on 31 North American regional banks and downgraded five more banks, as the agency applied its new bank ratings criteria. According to the report, the banks include: U.S....
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December 07, 2011, 07:30 AM
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The New York Times reported about the magnitude of financial aid that the Federal Reserve provided big banks during the 2008-09 credit crisis. The report came from Bloomberg News, which had to mount a lengthy legal fight to wrest documents from...
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December 05, 2011, 06:30 AM
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Reuters reported that Standard & Poor's reduced its credit ratings on fifteen large banking companies, mostly in the Europe and the United States, on Tuesday as the result of a sweeping overhaul of its ratings criteria.According the report, banks...
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November 30, 2011, 07:00 AM
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The Washington Post with Bloomberg reported a judge used unusually harsh language to strike down a $285 million settlement between Citigroup and the Securities and Exchange Commission over toxic mortgage securities, saying he couldn’t tell whether...
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November 30, 2011, 06:30 AM
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Bloomberg reported that banks in fifteen European nations may have their subordinated debt ratings cut by Moody’s Investors Service Inc. to reflect the potential removal of government support. Nations under consideration for such cuts include the...
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November 29, 2011, 07:00 AM
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Reuters reported that Standard & Poor's plans to update its credit ratings for the world's 30 biggest banks within three weeks and may well mete out a few downgrades in the process, possibly surprising battered global bond markets.According to...
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November 18, 2011, 07:00 AM
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