The bank didn’t disclose which specific employees, or how many, were impacted by the announcement.

The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.

Despite perceptions that smaller companies are riskier, they pose less risk to investors. Realized loss rates are lower, and they deliver higher returns.

The Federal Reserve's unanimous approval is a win for the Rhode Island company, though it will have have to take part in an additional round of stress tests in 2023.

The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.

The agreement to acquire Vantage Financial in Minnesota comes less than a year after Peoples Bank purchased North Star Leasing in Vermont.

The deal is the latest example of a mainstream bank buying a point-of-sale lender focused on financing home improvement projects.

Democrats largely left the financial sector alone last year. But they are attempting to resurrect a bank tax-reporting plan to help pay for President Biden’s social policy package while keeping a close eye on cryptocurrency and how regulators review mergers.

The Alabama bank is buying Clearsight Advisors to add to its booming capital markets division.

HUD official Alanna McCargo takes over the top job at the government corporation, which has had a series of acting leaders since 2017.

A clash among FDIC board members has intensified a debate about whether regulators should take a tougher look at large M&A deals. House Financial Services Chair Maxine Waters added to the frenzy by calling for a moratorium on approving big acquisitions.

Founded in the wake of the global financial crisis, KBRA has issued more than 51,000 ratings representing almost $3 trillion in rated issuance since 2010.

While the indicative portfolio has an average credit quality of ‘B’ or ‘B-,’ Fitch also points out that the class A-1 notes have a 43.0% credit enhancement level.

The deal for Summit Financial furthers First Financial’s strategy of acquiring national niche business lines.

Chryssa Halley, who has been with the company since 2006, was named CFO and Jim Holmberg was named controller.

The tech entrepreneur has been increasingly focused on Bitcoin, a key growth area for the payments company he co-founded.

The bank, which acquired General Electric’s health care lending business in 2015, is looking to expand its presence amid a merger boom in the sector.

The Rhode Island bank has entered into an agreement to acquire JMP Group, which focuses on the health care, technology, financial services and real estate sectors.

The price for the 20% stake in Santander Consumer USA Holdings that Santander does not already own is significantly higher than what the buyer first offered in July.

Marked declines in loans that have had relatively higher levels of pandemic-related distress reinforced other indicators suggesting the market could normalize if infection rates remain contained.