The firm said it would still originate and service loans out of the office where the cost-cutting measures will occur.

Dicier credit conditions, recession fears and tougher regulatory scrutiny combined to weaken merger activity in 2022. A push for scale is bound to resume when interest rates level off — at least among smaller banks, analysts say.

In a new survey, executives at banks and credit unions registered the highest level of anxiety about a forthcoming data-collection rule in small-business lending.

The uptick in the 60-day-plus metric could reverse the bulk of the decline that occurred between 2019 and 2021.

A special-purpose acquisition company is merging with a bank as its affiliated startup still lacks its own national bank charter.

The deal will close for $10 million in cash, plus the right to purchase nearly 33.9 million shares of common stock.

Bank of America is slowing hiring as fewer employees leave in an attempt to manage the company's headcount ahead of a possible U.S. recession, Chief Executive Brian Moynihan said.

Both Canadian banks are awaiting green lights from regulators for their pending acquisitions of U.S. banks. "We don't control the timing of all the regulatory approvals," TD's chief executive said Thursday.

Amid scuttlebutt, the Atlanta company is mum on buyer, which is rumored to be CrossCountry Mortgage.

The company is floating the possibility of selling a portion of its loan portfolio to free up liquidity in coming months, leaders said.