Bank of New York Mellon in New York said it expects to take a notable revenue hit in the first quarter tied to a decision to suspend certain activities in Russia. The $444 billion-asset company disclosed in a regulatory filing Thursday that it had ceased new banking business in Russia and suspended investment management purchases of Russian securities in response to the country’s invasion of Ukraine. That decision, along with government sanctions,

USAA Federal Savings Bank in San Antonio has been ordered to pay a total of $140 million to the Financial Crimes Enforcement Network and the Office of the Comptroller of the Currency tied to lapses in its Bank Secrecy Act compliance. The $117 billion-asset bank will pay a $80 million civil money penalty to Fincen, along with a $60 million fine to the OCC. The bank is now operating under enforcement

A group with ties to EverBank are looking to form a de novo in Colorado.The group behind Battle Bank in Avon applied with the Federal Deposit Insurance Corp. on March 11 for deposit insurance. The application wasn’t immediately available. A public notice filled in connection to the application said Battle Bank would be a national bank regulated by the Office of the Comptroller of the Currency.  The notice listed three

The president of MainStreet Bancshares in Fairfax, Va., is retiring.The $1.7 billion-asset company said in a press release Friday that Chris Brockett will retire on March 31. Brockett, who has been MainStreet’s president since January 2017, will remain on the company’s board. “As an accomplished career banker, Chris has insights and experience that will continue to help light our path as we innovate and meet the credit needs of the

Trustmark in Jackson, Miss., has agreed to sell its corporate trust business to Peoples Financial in Biloxi, Miss. The $17.6 billion-asset Trustmark said in a press release Thursday that it expects to sell the business in the second quarter. Peoples said in a regulatory filing that it will pay $650,000 for the business, subject to adjustment.Trustmark's corporate trust business provides trust and agency services in connection with debt securities issued by public

Huntington Bancshares in Columbus, Ohio, has hired a former Truist Financial executive to oversee its consumer and business banking operations. The $174 billion-asset Huntington said in a press release Wednesday that Brant Standridge will become president of consumer and business banking in early April. He will oversee the company’s branches, business banking, mortgage and home lending and Huntington Financial Advisors. Standridge will join Huntington's executive leadership team and report to Steve Steinour, the company’s chairman, president

JPMorgan Chase in New York has agreed to buy Global Shares, an Irish company that provides cloud-based share plan management services. The $3.7 trillion-asset JPMorgan said in a press release Tuesday that it expects to complete the acquisition in the second half of this year. The company did not disclose the price it will pay. Global Shares, founded in 2005, has more than 600 clients that range from early stage startups to

OceanFirst Financial in Red Bank, N.J., has hired the former chief financial officer at First Midwest Bancorp to fill the same post. The $11.7 billion-asset OceanFirst said in a press release Thursday that Patrick Barrett will join the company as executive vice president of finance on April 18, then succeed Michael Fitzpatrick as CFO on June 2.  Fitzpatrick, who has been at OceanFirst for nearly 30 years, is retiring. He will