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.
Synovus Financial in Columbus, Ga., reported a higher third-quarter profit as its total loans and net interest income increased.
Community banks, by and large, appear well-prepared for capital standards that Basel II will phase in beginning in January. Still, concerns remain on how the requirements will shape cost structures and consolidation at smaller institutions.
How banks are using online and classroom courses to teach young commercial lenders to stay on top of regulatory and market changes.
Buyers still exist for mortgage platforms. The problem is that the gap in pricing expectations for buyers and sellers has widened since refinance activity stalled last summer.
People who lack a credit or work history in the United States may have trouble getting a mortgage under the new qualified-mortgage rule, bankers say. A number of immigrants are self-employed, which makes it even harder to qualify.
The qualified mortgage rule, reduced refi activity and ongoing commoditization are forcing smaller institutions to take a hard look at exiting the mortgage origination business.
Community banks sustained a 27% decline in mortgage banking income last quarter, confirming the laments of individual banks during earnings season. Some banks are getting creative to try to revive their business in coming quarters, but it will be tough.
The Salt Lake City company has long lagged in mortgages, and now is the time to get more aggressive as big rivals pull back and small competitors struggle with qualified-mortgage rules, CEO Harris Simmons says.
Delays in software upgrades are forcing many small banks to play a waiting game when it comes to complying with new regulation.
Lawsuits tied to the Truth in Lending Act are on the decline—but bankers would be wise to delay any celebration.
Small banks are turning to the Federal Agricultural Mortgage Corp.better known as Farmer Macfor lending to agricultural borrowers at interest rates that match those offered by Farm Credit lenders.
Regulatory change is taking increasingly bigger bites out of community bank lenders' bottom lines.
Farmer Mac wants more community banks to consider using its services as a way of bringing in more revenue.
If the ranks of community banks are going to shrink, William Loving Jr., chief executive of Pendleton Community Bank, believes they will go down fighting.
NexBank has hired Tamara Hambright and Paula Vardell to expand its mortgage warehouse division.
Unlike other types of loans that community banks have historically made, commercial and industrial loans require ongoing monitoring, along with sound models and concentration caps, industry experts say.
Jacksonville Bancorp has sold $25.1 million of troubled assets and completed its previously announced $50 million capital raise.
Dale Oberkfell has been elected as chairman of the Federal Home Loan Bank of Des Moines.
Synovus Financial recently sold a batch of nonperforming and substandard loans backed by real estate assets.
Consumers National Bank is using a Web-based loan origination system from LendingQB to operate its mortgage lending business.