Another banking company is moving forward with raising capital: 1st United Bancorp Inc. in Boca Raton, Fla., announced plans to sell $32.5 million of common stock.
The $1.27 billion-asset company said Thursday that it would sell 5 million shares of common stock at $6.50 a share, or a 7.7% discount to Wednesday's closing price.
1st United approved selling another 750,000 shares, if needed.
The Federal Reserve will seek comment on the current stress-testing regime with an eye toward increasing transparency and reducing volatility. Modifications would not go into effect until at least 2026.
The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.
The emerging industry could be worth as much as $480 billion in two years, and payments are central to that growth.
The two companies continue to tick items off their year-end to-do list, which analysts hope will tee up the merger for finalization in early 2025. Regulatory approval remains a major question.
The industry agenda calls for amending longstanding rules like loan officer compensation, to nixing Biden-era plans trade groups say hurt both consumers and industry players.
The custody bank achieved its goal for the amount of deposits it placed into minority banks and community development financial institutions by the end of the year.
