The Federal Reserve on Tuesday announced a written agreement with Cornerstone Holding Co. in Fargo, N.D.
The company agreed to serve as a source of strength to its $265.4 million-asset Cornerstone Bank, which has been operating under a consent order with the Federal Deposit Insurance Corp. since Aug. 23.
Cornerstone is also prohibited from paying dividends or paying principal or interest on subordinated debt and preferred stock without regulatory approval.
This year saw the impact of Donald Trump's return to the White House, the first rate cut from the Federal Reserve in roughly four years and more.
The New Canaan, Connecticut-based company agreed to allow Larry Seidman, who sits on its board, buy an additional 5% of its shares. Seidman currently owns about 9.5% of Bankwell.
A roundup of the past year's profiles of senior executive women in banking and finance.
Analysts are unsure what the Federal Open Market Committee will do with monetary policy in 2025. The panel projects two rate cuts, but some analysts expect more, and others see fewer.
Looking back at the year, this is how they impacted the financial services industry.
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.
