Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
The Michigan company has been acquisitive lately, buying California branches and a wealth advisory firm.
The company, which bought BNC Bancorp to enter North Carolina last year, recorded $19.1 million in merger-related expenses and an $8.3 million pretax loss tied to investment securities.
The trade group wants Equifax to reimburse community banks for costs tied to the massive data breach at the credit bureau this year. The ICBA also wants a court to order Equifax to improve its security measures.
The Michigan company, which lost more than $1.4 billion in the aftermath of the financial crisis, is trying to become more of a commercial lender. Its recent agreement to buy a deposit-rich franchise in California could help it get there.
Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable.
Capital Corps, led by Steven Sugarman, aims to provide financing to homeowners and small businesses that it believes are overlooked by banks. The firm features several former Banc of California executives.
The Tupelo, Miss., company has recouped its “satisfactory” community reinvestment rating, removing a regulatory obstacle to two pending acquisitions.
The Louisiana company also set aside funds to cover efforts to settle litigation tied to its mortgage business.
The hurricane was expected by many to deliver catastrophe. Instead, bankers are largely looking to restore power and confirm the status of employees.
The Fed's order noted that Sterling had clarified errors in its Community Reinvestment Act data before receiving a "satisfactory" rating from the OCC.
Their immediate effort is to ensure colleagues and clients are safe and that banking services are available to hurricane victims. The next big issue is preparing for the financial hit banks and customers will take from wind and water damage.
Three years after guiding the Baltimore bank through bankruptcy, the group that recapitalized it found a similar institution eager to form a new partnership.
Lenders say they are eager to reduce their exposure to CRE, but an examination of recent deals shows just how hard that can be.
The New York company, which is preparing to buy Astoria Financial, reported year-over-year increases in commercial-and-industrial and commercial real estate loans.
On the first big day of 2Q results, bankers said their investments in middle-market lending have started paying off. JPMorgan Chase and PNC have added commercial loan officers in new markets across the country.
Seeking to stay below $50 billion, the regional is selling its origination and servicing businesses.
Joseph Ficalora, New York Community's CEO, told analysts that his company could still have a chance to buy Astoria "down the road."
The New York company may struggle with profitability as it decides whether to find a new buyer.
Profits at Astoria Financial in Lake Success, N.Y., fell along with net interest income in the fourth quarter.
The phrase "it is what it is" came up several times as CEO Joseph Ficalora addressed analysts' questions about nixing plans to buy Astoria and the challenges of getting another deal done.