Western Alliance Bancorp. in Phoenix is looking to sell loans and rebuild its deposit base as part of a plan to increase liquidity and get its Tier 1 capital ratio back to 11%. Loans held for sale at the $71 billion-asset company rose from $1.2 billion at yearend to $7 billion on March 31. Its Tier 1 capital ratio stood at 10.1% at the end of the first quarter. “To

Comerica in Dallas provided more details on the deposit outflows that took place during the first quarter. The $91.1 billion-asset company said in a press release that deposits fell by $3.7 billion, or 5.2%, between March 9 and March 31. The decrease reflected “diversification efforts by customers with excess balances significantly above those of the average relationship profile,” the release said. The decreases included $926 million in retail banking, $914

National Bank Holdings in Denver has bought a deposit acquisition and processing platform from StoneCastle Partners. The $9.9 billion-asset banking company did not disclose how much it paid for StoneCastle Digital Solutions, which operates as Cambr. Cambr, which handles accounts for embedded finance companies, administers about $1.7 billion of deposits comprising more than 500,000 FDIC-insured cash accounts. Many of the deposits are transaction accounts. “Cambr provides us the ability to

Farmers & Merchants Bancorp in Archibold, Ohio, reported lower quarterly earnings that reflected higher noninterest expenses and a decision to sell securities at a loss. The $3.1 billion-asset company said in a press release that its first-quarter net income fell by 20% from a year earlier, to $6.5 million. Farmers & Merchants said it sold $21.6 million of securities in the first quarter at an $891,000 loss. Noninterest expenses rose

Liberty Bank in Middletown, Conn., has launched a digital-only bank. The $7 billion-asset bank said in a press release that Owners Bank debuted on Monday. Owners will focus primarily on small business owners. The digital bank will be initially available to customers in Connecticut, Massachusetts, Pennsylvania and Rhode Island prior to a national rollout. Liberty planned to debut the bank in 2021 but faced Covid-related delays. Services include invoicing, bill

BancFirst in Oklahoma City plans to buy a branch from RCB Bank in Claremore, Okla. The $12.4 billion-asset BancFirst applied with the Federal Deposit Insurance Corp. to buy the branch, located in Stroud, Okla., according to a legal notice tied to the application. The branch had $15 million of deposits in mid-2022, according to FDIC data. BancFirst is already the biggest bank in Lincoln County, where the branch is located,

Pinnacle Financial Partners in Nashville, Tenn., was able to play offense and defense in the wake of two high-profile bank failures last month. The $45 billion-asset Pinnacle identified about $200 million of new deposits that came from Silicon Valley Bank and Signature Bank, Terry Turner, the company’s president and CEO, said during a conference call to discuss quarterly results. Pinnacle also empowered its employees to have proactive conversations with its

Goldman Sachs Group in New York could look to sell GreenSky, a fintech it bought about year ago for more than $2.2 billion. While GreenSky, which lends to homeowners through home improvement contractors, is a “good business” that is "performing well with first-quarter originations," Goldman CEO David Solomon said the business might not fit well with plans to scale back in retail banking. "Given our current strategic priorities … we