Comerica in Dallas plan to close 22 branches later this year.The $89 billion-asset company said in a press release Monday that it will close 11 branches in Michigan, eight in Texas and three in California in September. The closures represent about 5% of the company’s total branch network. "While we are constantly evaluating how we serve our customers, the accelerated pace of change has us acting with even more urgency,” Cassandra McKinney,

Achieva Credit Union in Dunedin, Fla., has begun offering a bitcoin service on its mobile app.The $2.6 billion-asset credit union said in a press release that it began working with NYDIG, a bitcoin technology company, in December. Achieva said it had noticed in the past year that its members had been trading in more than $2.6 million of cryptocurrency. “It was clear that many members want to get involved with

The list of banks curbing overdraft and nonsufficient funds (NSF) fees continues to grow. Cullen/Frost Bankers in San Antonio said on Monday that it has expanded its $100 overdraft feature to two more checking accounts. The $51 billion-asset company also said it will eliminate fees on nonsufficient and returned items for all consumer customers.  "Combined, the expansion of these features means Frost expects to forgo as much as $3.5 million per year" in

First Waterloo Bancshares in Waterloo, Ill., has agreed to buy Village Bancshares in St. Libory, Ill.The $803 million-asset First Waterloo said in a press release that it plans to complete the purchase of the $116 million-asset Village in the fourth quarter. It did not disclose the price it will pay. "We believe that we are stronger together and can better serve the needs of our customers and our communities through this

Daryl Byrd is stepping down as chairman of First Horizon in Memphis, Tenn. The $88.7 billion-asset company disclosed in a regulatory filing that Byrd will resign on July 1 in accordance with the provisions of his employment agreement and its bylaws. Byrd, who was CEO of Iberiabank when it was sold to First Horizon in 2020, was required to retire as an executive, employee and director on the merger’s second anniversary. Bryan

Ponce Financial Group in Bronx, N.Y., has received $225 million in Tier 1 capital through the Emergency Capital Investment Program (ECIP). The $1.7 billion-asset Ponce said in a press release Thursday that it sold 225,000 shares of preferred stock to the Treasury Department. “This large investment … will be transformative not only for Ponce,” Carlos Naudon, the company’s president and CEO, said in the release. The funds “will allow us to have a

Apple plans to provide the financing for its new Buy Now, Pay Later product. The Cupertino, Calif., technology company said Apple Financing, a wholly owned subsidiary, will provide the loans for Apple Pay Later. Apple will use Installments, Mastercard’s white label BNPL product. Goldman Sachs will issue the credentials for Apple to connect to merchants through Mastercard. While the investment bank is the technical issuer of the loans, Apple will hold

Wintrust Financial in Rosemont, Ill., has raised $248.4 million through a common stock offering. The $50.3 billion-asset Wintrust sold about 3 million shares of stock at $86 each. The company said it could use the net proceeds for a variety of purposes, including providing capital to support growth, acquisitions and reducing or refinancing debt. RBC Capital Markets and Raymond James, the underwriters, have a 30-day option to sell another 450,000 shares.