An American Bankers Association panel of forecasters predicted slower growth, but it said the U.S. economy would likely avoid a recession, sparing lenders deep credit quality woes.

The $17 billion-asset Suffolk-based company is convinced paying $120 million for an in-state rival is a more productive use of capital than share buybacks

The bank faced credit setbacks in the nation's capital and margin pressure this year. But it made a series of hires to reduce risk and diversify its loan portfolio, preparing for a new era of demand as the industry awaits interest rate cuts.

REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.

Lower interest rates could bolster loan demand, credit quality and securities portfolios. But they could also curb lending profitability faster than they ease deposit costs, crimping net interest margins and eating into near-term profits.

The Federal Housing Finance Agency wants to update the dual mission of the Federal Home Loan Banks. Members of the private bank cooperative say their regulator has no authority to redefine the mission.

The Hammond, Louisiana, company, which announced changes to its business strategy, cut 71 jobs and reduced its dividend to 8 cents per share.

The buyer said the all-stock deal to buy The First Bancshares would create a combined bank with $25 billion of assets.

Sandro DiNello, who briefly led New York Community Bancorp amid turmoil earlier this year, is staying on the company's board. But Joseph Otting, the company's recently installed CEO, is taking on the executive chairman position.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.