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.
New York Community Bancorp will not receive regulatory approval for its deal to buy Astoria Financial by the end of the year as initially planned.
The Bancorp's stock fell nearly 15% Friday after the Wilmington, Del., company reported a large quarterly loss tied to a bad commercial real estate loan.
The acquisition of Middleburg Financial would create a nearly $2.5 billion-asset bank in northern Virginia with strong mortgage originations and a growing wealth management business. It would provide an endgame for Middleburg while also making Access more appealing to potential buyers.
Heather Russell, who was fired earlier this year as Fifth Third Bancorp's chief legal officer, has re-emerged in a new role.
BancorpSouth in Tupelo, Miss., reported higher third-quarter earnings after net interest and fee revenue improved from a year earlier.
It's been a tough year for farmers, and lenders are looking for ways to help those borrowers offset sagging income.
Banks that are heavily involved in commercial real estate lending may shy away from buying institutions with similar concentrations.
Synovus Financial in Columbus, Ga., reported higher second-quarter earnings on solid growth in revenue and loans for investment properties.
Suffolk Bancorp said increased oversight of commercial real estate contributed to and may have accelerated its decision to sell to People's United. Other banks could make a similar choice.
Amalgamated Bank in New York has started offering down payment insurance to homebuyers in a move it hopes will set it apart with highly mobile millennial borrowers.
Federal Savings Bank in Chicago has acquired the assets of ICC Mortgage Services in Westbury, N.Y.
Changes to mortgage disclosure rules implemented in October continue to frustrate community bankers and is just another example of the struggle to stay independent.
Umpqua Holdings in Portland, Ore., posted stronger quarterly earnings because of an increase in mortgage banking fees and lower costs.
The long-delayed approval of the merger of M&T and Hudson City should have been a bright spot in postcrisis M&A, but a small footnote from the Fed quickly reminded bankers that dealmaking will remain a demanding process.
While banks have significantly decreased their problem assets from their 2010 peak, sour credits remain much higher than in 2006. A number of banks have been reluctant to sell these assets because of low interest rates and a struggle to find better investments.
Suncrest Bank is hoping that its team of experienced executives, combined with organic growth and acquisitions, will help more than double its assets in the next few years.
Synovus Financial in Columbus, Ga., reported higher second-quarter income tied to a lower loan-loss provision.
The Cleveland company, which this spring said it had decided to start originating its own mortgage loans again, shared more details on the start date of this new effort and the rationale behind it.
Farm banks have enjoyed several years of robust loan volume, but declining farm income has them on guard for increases in delinquencies and more eager to use government-guarantee programs.
Community banks, on average, increased the size of their loan portfolios by 15% in the third quarter from a year earlier, though the numbers reveal a slowdown from prior periods.