Financial terms were undisclosed for the most recent acquisition.

After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.

Credit unions like to boast that they offer lower rates than banks, but many are bucking that trend to boost liquidity and offset other costs.

In a speech on the central bank's regulatory agenda for the year, Federal Reserve Board Gov. Michelle Bowman said the merger-and-acquisition review process could benefit from added transparency.

The two banks are now targeting May 27, three months later than their previous goal. The transaction, which would create a top-six U.S. bank by asset size, was originally expected to be completed last fall.

The bank was already mulling headcount and compensation reductions in early September.

The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.

This year likely won't match 2022's heights, but executives expect loan growth to remain solid.

Truist Financial eliminated about 5% of its investment banking division amid uncertainty surrounding the dealmaking environment, according to people with knowledge with the matter.

Fourth Capital Bank's collaboration with the megalender is made possible through a partnership with Q2 Holdings.