New York Community Bancorp in Hicksville said deposit growth in the second quarter largely reflected growth in its Banking-as-a-Service (BaaS) platform.The $63.1 billion-asset company said in a press release that its total deposits increased by $3.3 billion from a quarter earlier, to $41.2 billion. Nearly 70% of that increase – $2.3 billion – came from its BaaS operations.  New York Community had $7.8 billion of BaaS deposits, or roughly 20%

Hanover Bancorp in Mineola, N.Y., plans to open its first branch on Long Island. The $1.5 billion-asset company said in a press release Wednesday that it will open a location in Hauppage, N.Y., by the end of this year.  Hanover said the full-service, high-tech branch has already received regulatory approval. It will be located next to the Long Island Innovation Park. “Moving eastward to Suffolk County Long Island strategically supports the growth

Ford Motor Company said obtaining an industrial loan charter would help it make electric vehicles (EVs) accessible to all Americans. The automaker said in its application with the Federal Deposit Insurance Corp. that the proposed Ford Credit Bank would offer auto loans for EVs through indirect retail installment and lease contracts originated by auto dealers. The bank would also be able to offer direct financing to consumers. The bank, which would

Trustmark in Jackson, Miss., plans to launch new business lines, enter new markets and improve technology under a new program. The $17.4 billion-asset company said in a press release Tuesday that FIT2GROW began in the second quarter. As part of the initiative, Trustmark opened a loan-production office in Atlanta that will focus on its institutional business. Trustmark plans to form an equipment finance business line as part of its specialty banking unit

NSTS Bancorp in Waukegan, Ill., has a new bank CEO. The $285 million-asset company said in a press release Tuesday that Nathan Walker had also become its executive vice president. Walker succeeded Stephen Lear as CEO of North Shore Trust and Savings. Lear remains chairman of the bank and the company’s chairman, president and CEO. Walker, who joined the company in 1996, has been the bank’s president and chief operating officer since November

Mark Hoppe, who orchestrated the sale of Taylor Capital Group to MB Financial nearly a decade ago, is retiring. Hoppe plans to step down as the Chicago region president for the $211 billion-asset Fifth Third Bancorp, a title he gained after the Cincinnati regional bank acquired MB Financial in 2019. He will retire at the end of this year. Mark Heckler, a senior commercial banker, will succeed Hoppe, who will serve in

Genesis Bank in Newport Beach, Calif., has created an escrow division. The $95.1 million-asset bank said in a press release Tuesday that Genesis Bank Escrow handles commercial and commercial real estate-related escrow transactions, including compliance with local, state and federal real estate guidelines. Genesis launched the division after hiring Michelle Gregorian.  “Over multiple decades, our team has successfully built, acquired and operated numerous leading commercial escrow companies across the bank’s target markets,”

Ford Motor Co. has applied to form a bank. Ford Credit Bank would operate under an industrial loan charter from Utah. Ford applied with the Federal Deposit Insurance Corp. on July 22 for deposit insurance.  Toyota and BMW already have industrial banks. Ford Credit Bank would look to help customers finance vehicles, accept deposit and provide funding to the automaker, among other things.