Cap Markets

An order permitting CSBH LLC in Powhattan, Virginia, to acquire a controlling stake in Industry Bancshares promises to give the Texas company a fresh start in one of the country's most attractive banking markets.

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.

The Stamford, Connecticut-based bank hired Steven Sugarman to be its president. The former bank CEO, who now heads one of the country's largest mission-based lenders, will help drive an effort to close a capital gap.

Banks such as TD, Wells Fargo and Bank of America drew attention this year for money-laundering issues. That's one of several top regulatory news items in 2024.

The Louisiana-based bank reduced its dividend to a penny, the second reduction it has made this year as it tries to bring down expenses and generate more capital.

Members of the Federal Deposit Insurance Corp. board of directors Tuesday debated Consumer Financial Protection Bureau Director Rohit Chopra's proposal limiting capital distributions system-wide during times of stress, as well as penalties for institutions caught engaging in money laundering.

Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.

Treasury yields rose the day after President-elect Donald Trump was picked. The short-term result: It's harder for commercial real estate lenders and borrowers to find common ground.

The New York bank's planned $125 million public offering comes less than a week after Valley National raised more than $400 million with a similar transaction.