For banks still holding on to longtime problem assets, now might be the time to consider selling. In the aftermath of the financial crisis, banks were saddled with scores of soured loans. But even if institutions were looking to sell these assets, and investors were interested in purchasing them, banks were often constrained by capital…
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The more bidders, the merrier. That philosophy among small-bank sellers is driving the increase in credit union acquisitions of banks this year, and it’s a big reason the trend is expected to gain further steam. More sellers are inviting offers from credit unions — in addition to putting out the normal feelers among banks —…
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Axiom Bank in Orlando, Fla., has launched an all-digital account it says is designed for the underbanked and unbanked. AxiomGo is a paperless checking account for customers who want an alternative to prepaid cards and traditional checking, the community bank said. Axiom partnered with the fintech firm Malauzai to design and deploy a mobile app…
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Natalie Bartholomew’s pet project is on its way to becoming a social media phenomenon. Bartholomew, chief marketing officer at Grand Savings Bank in Grove, Okla., created a blog called The Girl Banker last year to tout the accomplishments of women across her industry. Her Twitter feed is slowly gaining momentum, with more than 1,600 followers…
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The tax-exempt status of credit unions has become a hot topic in Iowa. State senators are expected to vote on a sweeping tax bill soon that would impose a franchise tax on credit unions. While Iowa’s bankers are thrilled, credit unions are encouraging members to object to lawmakers. The debate comes about a month after…
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It may be surprising to learn that a recent American Bankers Association (ABA) survey reported that 87% of community banks do not have a payments strategy, given the key role that payments play for financial institutions in driving economic value and customer satisfaction. Banks that devote the time and energy to conduct this assessment will…
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Wells Fargo received a stern reprimand from the Federal Reserve this past week for failing to meet its obligations to consumers and the community. In short, regulators have demonstrated yet again that the bank is no longer considered well-managed. The National Diversity Coalition supports this decision, as it is in line with actions already taken…
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At Carter Bank & Trust in Martinsville, Va., 2018 is likely to go down as the year the $4.2 billion-asset company stopped competing with one hand tied behind its back. Carter Bank is in the midst of a comprehensive overhaul of its operating system that, when completed in the third quarter, would allow it to…
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The Independent Community Bankers of America has filed a lawsuit against Equifax in hopes of compensating small banks for a recent data breach that potentially affected more than 140 million people. The ICBA, which filed its lawsuit in U.S. District Court for the Northern District of Georgia, said in a press release that it wants…
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WASHINGTON — It was the kind of victory that appeared ripe for President Trump and Republicans to celebrate — the repeal of a rule that bankers and credit unions agreed would only raise costs on customers. The passage of a repeal bill was particularly noteworthy given that the president has struggled to see his agenda…
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