First Savings Financial Group in Jeffersonville, Ind., plans to restate its earnings to address several accounting matters. The $2.1 billion-asset company disclosed in a regulatory filing that the changes will lower its fiscal 2022 net income by 6.4%, to $15.4 million. First Savings highlighted several issues, including an overstatement of other assets due to a capitalized consulting fee paid to evaluate its core operating systems and negotiate a contract. The

The Consumer Financial Protection Bureau plans to cap credit card late fees at $8 as part of a series of proposals to curb what it believes to be excessive charges. The agency said in a press release that the proposal aims to adjust the safe harbor dollar amount for late fees to $8 and eliminate a higher safe harbor dollar amount for late fees for subsequent violations of the same

First Waterloo Bancshares in Waterloo, Ill., has raised nearly $8.5 million through a private placement. The $823 million-asset company raised the capital on Jan. 28, according to data compiled by Performance Trust Capital Partners. Performance Trust also reported that M&T Bank in Buffalo, N.Y., raised $1 billion by issuing senior debt.

Provident Bancorp in Amesbury, Mass., returned to profitability and slashed its exposure to the cryptocurrency industry during the fourth quarter. The $1.6 billion-asset company said in a press release that its crypto portfolio shrank by 66% in the fourth quarter from a year earlier, to $41.2 million, largely due to the sale of impaired loans backed by crypto mining rigs and payments on outstanding lines of credit. Loans backed by

New York Community Bancorp in Hicksville plans to close all of its out-of-market mortgage offices. The $90.1 billion-asset company, which recently completed its purchase of Flagstar Bancorp, said in a press release that the move will eliminate about 70% of its retail home lending offices. "While legacy Flagstar was proactive in rightsizing its mortgage business throughout the past year, we expect the mortgage market to remain challenged,” Thomas Cangemi, New

Heartland Financial USA has officially moved its corporate headquarters from Dubuque, Iowa, to Denver. The $20.2 billion-asset company said in a press release that the address was changed on Dec. 31. HTLF Bank is headquartered in Denver. Heartland also noted that it consolidated five of its charters into HTLF Bank in 2022, including Arizona Bank & Trust and Illinois Bank & Trust in the fourth quarter. Six others will be

PacWest Bancorp in Los Angeles is making a flurry of changes as it transitions to new CEO Paul Taylor. The $41.2 billion-asset company said in a press release that it shut down its premium finance and multifamily lending groups as part of a plan to focus on “relationship-based community banking.” PacWest also plans to restructure its Civic Financial Services business in a move that led to a $29 million goodwill

Northwest Community Bank in Winsted, Conn., will have a new CEO this fall. The $1.1 billion-asset bank said in a press release that Maura O’Sullivan Malo will also become its president on Sept. 1. Malo, the bank’s chief operating officer, will succeed Stephen Reilly, who is retiring. Malo was a bank examiner with the Federal Deposit Insurance Corp. from 1993 to 2003. Malo “has been one of our rising stars