Strategic Insights into Banking & Fintech
Liberty Bank in Middletown, Conn., has expanded its digital-only bank to three new states. The $7.5 billion-asset mutual bank has introduced its Owners Bank platform to Georgia, North Carolina and South Carolina, according to the Hartford Business Journal. Owners, which caters to small business owners, already operated in Rhode Island, Massachusetts, Connecticut, Pennsylvania and Florida. It offers loans and credit lines, business interest checking, savings accounts and business credit cards.
New York Community Bancorp in Hicksville made it clear that Alessandro DiNello is in charge. The $116.3 billion-asset company disclosed in a regulatory filing that Thomas Cangemi, its president and CEO, now reports directly to DiNello, who became executive chairman on Feb. 7. New York Community’s board also changed the company’s bylaws to require support from three-fourths of directors to remove DiNello over the next two years. The same threshold
Heartland Financial USA in Denver has agreed to sell nine Montana branches. The $19.4 billion-asset Heartland said in a press release that will sell six branches to Glacier Bancorp in Kalispell, Mont., and three to Stockman Bank of Montana. The sales include $594 million of deposits and $363 million of loans. Heartland said it plans to reinvest the proceeds into talent, technology “and other existing markets where it has the
Community State Bank in Ankeny, Iowa, has a new president. The $1.4 billion-asset bank said in a press release that Brian Hannah had succeeded Kurt Gibson, who remains CEO. Hannah previously served as commercial sales manager at Bankers Trust. “The addition of Brian to our organization’s leadership strengthens our ability to concentrate on the most critical priorities for our employees, clients and community,” Gibson said in the release. “He possesses
Primary Bank in Bedford, N.H., has a new CEO. The $700 million-asset company said in a LinkedIn post that Crystal Dionne had also become its president. She was the bank’s chief financial officer. “We are fortunate to have strong and experienced leaders like Crystal Dionne to assume this top leadership role,” Bill Greiner, the bank’s chairman, said in the post. “She is uniquely qualified to continue our exceptional work in
American Honda Finance, automaker Honda's financing arm, said it is being investigated by the Consumer Financial Protection Bureau over its “furnishing of credit reporting information on consumer accounts.” The consumer finance company said in a regulatory filing that the CFPB sent it a "civil investigative demand" November. The investigation is connected to the financing arm's "furnishing of credit reporting information on consumer accounts." American Honda Finance said it is cooperating
First Financial Bancorp in Cincinnati has agreed to a five-year, $2.4 billion community benefits agreement. The $17.5 billion-asset company, under the accord reached with the National Community Reinvestment Coalition and other groups, will provide $700 million in mortgage lending and $600 million in small business lending in underserved communities. The agreement includes more than $1 billion in community development lending and investments in affordable housing, community services, revitalization and stabilization,
Grove Bank & Trust in Miami has a new president. The $1 billion-asset bank named Ed Joyce to fill the position. Joyce has been the bank’s vice chairman since August 2021. He said in his LinkedIn profile that he handles client engagement efforts. Joyce joined Grove from Northern Trust, where he was an executive client adviser.
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