The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

BayFirst in Florida to enter healthcare lending with banker hire

BayFirst in Florida to enter healthcare lending with banker hire

BayFirst Financial in St. Petersburg, Fla., is expanding into healthcare lending after hiring a veteran banker. The $1.1 billion-asset bank said it hired Phil Russo to serve as director of healthcare lending. He is also responsible for building out BayFirst’s treasury team. Russo “brings vast knowledge of the complex issues facing medical service providers to this role, which will enable us to better serve the specific needs of these businesses,”

July 23, 2024
BCB in New Jersey reports earnings dip after agreeing to sell CRE loans

BCB in New Jersey reports earnings dip after agreeing to sell CRE loans

BCB Bancorp in Bayonne, N.J., reported lower quarterly earnings after selling loans. The $3.8 billion-asset company’s second-quarter earnings fell by 67% from a year earlier, to $2.8 million. BCB agreed to sell a $38.4 million pool of commercial real estate and multifamily loans at a $4.6 million pretax loss. It also sold a nonperforming loan for a $288,000 pretax loss. The company also recorded unrealized losses of $222,000 on its

July 23, 2024
FS Bancorp in Wash. promotes insider to serve as president

FS Bancorp in Wash. promotes insider to serve as president

FS Bancorp in Mountlake Terrace, Wash., has a new president. The $3 billion-asset company said in a press release that Matthew Mullet has also become president of its bank. Mullet, who will remain chief financial officer, succeeded Joseph Adams, who will remain CEO of the company and the bank. Mullet “has been an integral part of our team and has a proven track record of leadership and a deep understanding

July 23, 2024
Generations in NY discloses written agreement with OCC

Generations in NY discloses written agreement with OCC

Generations Bancorp NY in Seneca Falls has entered into a written agreement with the Office of the Comptroller of the Currency tied to managing its balance sheet. The $411 million-asset company disclosed in a regulatory filing that the July 19 agreement requires it to develop written programs for liquidity risk management and interest rate management. Generations must form a compliance committee and prepare a written board oversight and corporate governance

July 23, 2024
Fed fines Green Dot $44M for consumer compliance breakdowns

Fed fines Green Dot $44M for consumer compliance breakdowns

Green Dot in Austin, Texas, was fined $44 million by the Federal Reserve to address consumer compliance breakdowns tied to its prepaid debit card products. The fintech, which acquired a bank in 2011, was accused of unfair and deceptive practices and a deficient consumer compliance risk management program. The Fed said that Green Dot violated consumer law with its marketing, selling and servicing of prepaid debit card products. The company

July 20, 2024
Bank of Hawaii promotes insider to become its president

Bank of Hawaii promotes insider to become its president

Bank of Hawaii in Honolulu has a new president.   The company disclosed in a regulatory filing that James Polk has taken on the role. Polk, who was vice chairman and chief banking officer, succeeded Peter Ho, who remains chairman and CEO.   Polk, who joined Bank of Hawaii in 1999, gained responsibility for retail banking and the branch banking and contact center – giving him oversight for all of

July 19, 2024
Fulton Financial in Pa. to close 13 branches in Penn., New Jersey

Fulton Financial in Pa. to close 13 branches in Penn., New Jersey

Fulton Financial in Lancaster, Pa., plans to close 13 branches in Pennsylvania and New Jersey. The company disclosed in a regulatory filing that the branches will close by Nov. 22. The board approved the closures plan as part of the bank's integration of the failed Republic First Bank. Fulton said it expects to incur pretax costs of about $10 million in the third quarter, including $6 million of writeoffs of

July 18, 2024
Synovus posts Q2 loss after restructuring its bond portfolio

Synovus posts Q2 loss after restructuring its bond portfolio

Synovus Financial in Columbus, Ga., posted a net loss in the second quarter after purging its securities portfolio. The $60 billion-asset company lost $14.7 million in the quarter, a reversal from the $173.9.8 million it earned a year earlier. Synovus sold $257 million of bonds during the quarter at a discount. The company plans to reinvest the proceeds into higher-yielding investments and loans. The net interest margin, which widened by

July 18, 2024

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