Community banking
TAB Bank's debit account, which rewards users with partial stock shares, is boosting the company's appeal among consumers who are younger, tech-savvy and underbanked.
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High-net-worth clients with large policies borrow, on average, $500,000 to $800,000 to pay their premiums. Peapack-Gladstone predicts the product, which it launched this month, will be one of its top business lines within six years.
October 28 -
Citizens Financial said it would pay $67.4 million to buy HV Bancorp, the holding company for Huntingdon Valley Bank, in a bid to expand in Greater Philadelphia.
October 19
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Sterling Bancorp is suing its founder and former CEO, Scott Seligman, to get him to repay dividends it alleges are tied to his influence over its problematic Advantage Loan program. The lawsuit claims Seligman was so controlling he even used a robot — nicknamed the "Scott Bot" — to surveil employees.
October 12 -
Daniel D. Robb of Jonesburg State Bank takes over as chairman of the American Bankers Association, which elected officers and board members for 2022-23 at its annual convention.
October 4 -
Financial institutions of all sizes — from JPMorgan Chase to SouthState to Fairwinds Credit Union — have reopened many branches, rolled out mobile banking units as well as reemployed pandemic-era digital and loan-forgiveness strategies in parts of Florida and South Carolina devastated by the powerful hurricane.
October 3 -
Leaders who set clear expectations do not create hostile settings. If anything, good people are motivated knowing what they do is noticed and matters.
September 28 -
Vermont State Employees Credit Union is attracting new cannabis clients so rapidly that it had to press the pause button to add staff. Another New England lender, Needham Bank, is building its own pot banking business through acquisition.
September 26 -
Reports of the death of branch banking have been greatly exaggerated.
September 26 -
The number of U.S. banks has dropped by two-thirds since the mid-1980s. Everyone expects this trend to continue for the foreseeable future. But at what point does M&A cool?
September 21
