Industry News
Industry News
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The high-stakes acquisitions of 2008 and subsequent legal liabilities have sapped enthusiasm from many prospective buyers for Silicon Valley and Signature Banks. The Federal Deposit Insurance Corp. may end up having to sell assets piece by piece.
March 17 -
The failures of Signature Bank and Silicon Valley Bank have already rocked mortgage rates but aren't expected to rattle lines of credit provided by depositories, home lenders say.
March 17 -
Other mortgage players this week have distanced themselves from the banking chaos with statements disclosing that they had no relationships with the failed companies.
March 15 -
Financial terms were undisclosed for the most recent acquisition.
February 28 -
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.
February 16 -
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.
February 14 -
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.
February 13 -
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.
February 10 -
The bank was already mulling headcount and compensation reductions in early September.
February 9 -
The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.
February 8 -
This year likely won't match 2022's heights, but executives expect loan growth to remain solid.
February 7 -
Truist Financial eliminated about 5% of its investment banking division amid uncertainty surrounding the dealmaking environment, according to people with knowledge with the matter.
February 7 -
Fourth Capital Bank's collaboration with the megalender is made possible through a partnership with Q2 Holdings.
February 1 -
Indexes show heightened expectations for a recession and souring loans. But executives are upbeat about middle-market businesses and overall job growth.
January 30 -
The loan-growth projections are for Columbia Banking System itself, before the Tacoma, Washington, bank officially merges with Umpqua Holdings. The $5 billion deal is scheduled to close Feb. 28.
January 24 -
The layoff round, which a spokesperson said represents "less than one quarter of one percent of the roles in the company," comes after Rocket announced a 20-person reduction in the marketing team in early January.
January 23 -
The Pittsburgh bank posted a solid profit and said that it expects continued loan growth. But the pace of business expansion could slow alongside an economic downturn.
January 18 -
The move, which comes with an unspecified number of layoffs, is expected to cost the company $3.8 million to $4.6 million in pretax charges in the second quarter.
January 12 -
Northpoint's description of insider wrongdoing as cause for its November security leak is a rare admission of the type of cyberattack a mortgage firm has suffered.
January 10 -
The Arizona-based lender has been in business for 35 years and has branches in over 20 states.
January 6


















