Jim Dobbs

Lower commodity prices and decreases in government assistance are expected to push farm income lower this year and raise credit risk for banks.

The world's largest credit union said that Dietrich Kuhlmann, a retired rear admiral and currently the institution's chief operating officer, would succeed retiring CEO Mary McDuffie on March 1.

As part of a settlement with the Justice Department, Patriot Bank must invest more than $1 million of the total in a loan subsidy fund for minority homeowners and take other corrective steps in its everyday business. The bank denied any wrongdoing.

Clark Street Capital said it developed a service to pair sellers with multiple potential buyers within just two weeks. It's meant to help small lenders close deals fast while still getting the benefits of a bidding process.

The lawsuit accuses Navy Federal of violating the Fair Housing Act and the Equal Credit Opportunity Act after a CNN report that the lender approved a lower percentage of Black and Latino mortgage applicants.

The Pittsburgh-based regional bank expects to save $325 million next year as it reduces its staff by 4%. Executives said the cuts are necessary because revenue has fallen amid a surge in interest rates and a decline in loan volumes.

Commercial real estate borrowers, including vulnerable office tower landlords, are increasingly struggling to make payments and, as a result, more lenders are expected to report higher credit costs.

Merchants Bancorp says it will sell a total of four branches to two buyers and focus more on its core residential mortgage lending business. Banks of all sizes have been pruning branch networks in recent years.

As the Latino population in the U.S. expands, so does the business case for banks and credit unions that want to tailor services for this audience.

Followers of Islam cannot pay interest on loans. Androscoggin Bank figured out a way to structure a new product that addresses that challenge and paves a path to more homeownership.

The Columbus, Georgia, bank is selling a $1.3 billion portfolio as part of a plan to pay off higher-cost funding. Though there are rising concerns about the office sector, Synovus said the loans it's offloading have pristine credit quality.

The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.

The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.

The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.

The companies cited an inability to secure regulatory approvals after postponing multiple times a closing that had been originally expected last fall.

The American Bankers Association's latest Credit Conditions Index points to a drop in lending and a rise in loan delinquencies through the second and third quarters.

Rising vacancy levels, soaring interest rates and weaknesses exposed by recent bank failures have analysts and investors worried about banks' outsized exposure to high-rise office, apartment and retail properties.

Lenders had started tightening as early as the fourth quarter in anticipation of a possible recession. Now, the banking crisis is driving community and regional banks in particular to hit the brakes harder, stoking renewed recessions fears.

With the acquisitions of CIT Group and a large portion of the failed Silicon Valley Bank, the North Carolina company has doubled in size for the second time in a little more than a year and joined the class of super regionals.

The company agreed to pay $27.2 million in restitution to shareholders and revised its 2022 earnings to show a steep loss. The plea agreement with the Department of Justice was tied to Sterling's now defunct low-documentation mortgage program.