In a major shift intended to modernize and streamline bank oversight, the Office of the Comptroller of the Currency announced a sweeping reorganization of its supervisory structure. The OCC said in a press release that it will combine midsize and community bank supervision will be combined with large bank supervision to create a single office. Greg Coleman, senior deputy comptroller for large bank supervision, will lead the combined office. Beverly Cole,

Private Bancorp of America in La Jolla, Calif., hired a former leader of Montecito Bank and Trust to oversee its expansion into Santa Barbara County. The company said in a press release that George Leis would serve as executive vice president and market president and would be based in its Montecito, Calif., office. Leis retired as Montecito Bank's president and chief operating officer in January. "Having known George for years

Simmons First National in Pine Bluff, Ark., reported lower quarterly earnings after its credit costs swelled. The $26.8 billion-asset company said in a press release that its first-quarter profit fell by 17% from a year earlier, to $32.4 million. The quarter included a $26.8 million loan-loss provision—more than half of which was tied to a pair of loans that migrated to nonperforming status. The first relationship, a $26.9 million loan

Global Payments in Atlanta announced a bold realignment of its business strategy, agreeing to divest Issuer Solutions and buy Worldpay. The merchant services provider said in a press release that it will sell Issuer Solutions to FIS for $13.5 billion. In a separate transaction, it will buy Worldpay from GTCR and FIS for $22.7 billion. The deals are expected to close in the first half of 2026. With the acquisition

A new legal filing from former Silicon Valley Bank executives is pushing back against the Federal Deposit Insurance Corp.’s claim that executive negligence led to the bank’s historic collapse in March 2023. In a motion to dismiss the FDIC’s lawsuit, the former officers argue that the bank's failure was the product of an extraordinary, social-media-driven bank run—not mismanagement. The FDIC, acting as receiver for SVB, sued several former executives in

CFCU Community Credit Union in Ithaca, N.Y., has rebranded as Beginnings Credit Union. The $1.4 billion-asset credit union said it is made the change because the meaning of the acronym “CFCU” has evolved over time. “It’s time we have a strong, unified brand that reflects the reality of who we are today, and shines light on our personal approach to banking," the credit union said in a press releease. "Our

In a stunning move, the White House dismissed Todd Harper and Tanya Otsuka from the National Credit Union Administration board, abruptly ending their tenures and throwing the agency’s regulatory direction into limbo. The decision leaves the NCUA without a quorum, effectively halting its ability to issue new rules or take formal board action. Harper, a Democrat and former NCUA chairman, blasted the decision in a sharply worded statement. “The decision

The Community Bankers Association of Georgia will invest in the latest fund from BankTech Ventures. The association said in a press release that its board approved an investment in BankTech Ventures’ Fund 2. The investment was made possible by a special purpose vehicle formed by the Community Bankers Association of Illinois that lets Georgia community banks invest as little as $50,000 in the fund. The amount of the association's investment