First Citizens BancShares in Raleigh, N.C., and the Federal Deposit Insurance Corp. have ended their shared-loss agreement tied to the 2023 failure of Silicon Valley Bank. First Citizens took over much of Silicon Valley Bank's operations when it failed. The five-year shared-loss agreement covered an estimated $60 billion of loans. Under the agreement's terms, the FDIC agreed to reimburse First Citizens for half of any losses if they amounted to

PNC Financial Services Group in Pittsburgh snagged a Blackrock executive to serve as its president. The company said in a press release that Mark Wiedman will also serve as president of PNC Bank. The company's primary operating lines and regional presidents will report to Wiedman, who will then report to Chairman and CEO William Demchak. Wiedman was a senior managing director at BlackRock and a member of its global executive

First National Bank in Pandora, Ohio, has a new leader. The bank said in a press release that Brendon Matthews was named CEO. He has been serving as president since May 2024. Matthews succeeded Todd Mason, who retired. Mason remains on the board. “I am honored to serve the bank in this new role and I am excited to work with our great team to keep living out our mission

Southern Bank in Spartanburg, S.C., has a new leader. The bank said in a press release that M.J. Huggins III is its new CEO. Huggins recently served as director of credit risk management at United Bank. Huggins' "deep understanding of community banking, combined with his proven track record of leadership and passion for serving local businesses and families, makes him the perfect choice to drive our next phase of growth,"

America's Credit Unions has begun the search for a new leader. The advocacy group announced that Jim Nussle will retire once a successor is on board. The group hired Korn Ferry to assist a newly formed search committee. “After a long career in advocacy from both sides of the policy making table, leading CUNA and the honor of helping to create and lead America’s Credit Unions, it is soon time

Israel Discount Bank of New York has a new leader. The bank said that Avner Mendelson will become its president and CEO on May 1. He will succeed Ziv Biron. Mendelson was president and CEO of Bank Leumi USA, which was sold to Valley National Bancorp in New York.

Evolve Bank & Trust in West Memphis, Ark., will pay $11.8 million to settle claims that it failed to protect customers’ private data during a 2024 data breach. The plaintiffs had alleged that the bank “had inadequate data security, was unjustly enriched by the use of the private information, and improperly or inadequately notified potentially impacted individuals." Evolve disclosed last June that “a known cybercriminal organization” had released “illegally obtained”

Plaid raised $575 million in a funding round. The round, which included Franklin Templeton, BlackRock, NEA and Ribbit Capital, valued the fintech at $6 billion, off more than half from its $13.4 billion valuation in 2021. Plaid said this round would be its lase private fundraiser, indicating that the company is getting closer to filing for an initial public offering. The new funding round lets employees cash out of restricted