TD Bank in Toronto and First Horizon in Memphis, Tenn., are skeptical that they can complete their merger by the May 27 deadline – meaning another extension is likely. The $79 billion-asset First Horizon disclosed in a regulatory filing that TD Bank recently sent notice that it doesn’t expect to secure regulatory approvals in time. TD Bank was also unable to provide a new projected closing date. TD Bank “has

Archway, a platform that was spun off from Washington Federal in Seattle, has raised $15 million of Series A funding. The platform, which helps banks modernize and personalize digital customer interactions by connecting their core banking products to web, mobile, voice and AI technologies, said in a press release that the funding round was led by Madrona and Washington Federal. “The consumer fintech revolution has reimagined what is possible for

Park National in Newark, Ohio, has agreed to pay $9 million to settle redlining claims. The Justice Department said in a press release that the $9.8 billion-asset company decided to resolve allegations that it engaged in “a pattern or practice of lending discrimination” around Columbus, Ohio. The complaint, filed in the U.S. District Court for the Southern District of Ohio, alleged that Park failed to provide mortgage lending services in

S&T Bancorp in Indiana, Pa., will eliminate all nonsufficient funds (NSF) fees for consumer and business deposit accounts. The $9.1 billion-asset company said in a press release that its returned-item fees will go away on April 3. S&T will introduce a new program where it will not charge an overdraft fee if account is overdrawn by $10 or less. Eliminating NSF fees “is just another way we are helping our

An investor group led by one of Martin Luther King’s children and a former Trump Administration official has agreed to buy Holladay Bank and Trust in Salt Lake City. Redemption Holding Co. said in a press release that it plans to seek approval to become a bank holding company. It also plans to turn the $68 million-asset Holladay into a minority depository institution (MDI). The purchase price wasn’t disclosed. Ashley

U.S. Bancorp said the Consumer Financial Protection Bureau is considering "a potential enforcement action" tied to the Minneapolis company’s handling of prepaid cards for unemployment benefits. The $593 billion-asset company’s disclosure comes months after it said the CFPB was investigating the matter. U.S. Bancorp reiterated in its annual filing with the Securities and Exchange Commission that it is “cooperating fully” with the probe. The CFPB and the Office of the

Apex Bank in Camden, Tenn., plans to move its corporate headquarters to West Knoxville. The $1.1 billion-asset bank has a contract to buy the former Discovery campus from Warner Bros., according to multiple media reports. The price of the transaction, which is expected to close on March 31, wasn’t disclosed. In addition to its corporate office, Apex plans to relocate its national mortgage-servicing division to the campus. The 33-acre site

Unity National Bank of Houston has received a $50 million investment from Baker Hughes, an energy technology company. Baker Hughes said in a press release that the investment in the $215 million-asset Black-owned bank came in the form of a $50 million deposit in J.P. Morgan Asset Management's Empower share class. “We have a responsibility to improve and support the communities in which we live and work,” Nancy Buese, Baker