27 июля 2024 года
ChoiceOne Financial Services would pay about $180 million to acquire Fentura Financial in a bid to expand in Detroit's suburbs. The deal would create a bank with more than $4 billion of assets.
But following the gross domestic product and personal consumption expenditures reports, Treasury yields and mortgage rates fell.
The Raleigh, North Carolina-based bank grew loans and deposits in the second quarter as it won back business from former customers of the failed Silicon Valley Bank. First Citizens bought the remains of SVB last spring.
Third-party origination operations are also going to Mr. Cooper in the $1.4 billion deal, in which the seller cited interest in improving its capital position.
The big box retailer's move comes amid a broader decline for the traditional payment option.
The siren song of greater regulatory uniformity will lead the industry to disaster, as the kind of innovation that benefits consumers is stifled.
New York Community Bancorp reported a net loss of $323 million for the second quarter as it further boosted its provision for credit losses and recorded a steep increase in net charge-offs. The parent company of Flagstar Bank also plans to sell its residential mortgage servicing business to Mr. Cooper.
The $72.8 billion-asset bank lowered its guidance for net interest income, explaining that while business prospects on the island are relatively rosy, its stateside opportunities for loan growth look weaker.
The embattled Long Island-based bank announced the hiring of nine new senior executives. Most of them have ties to CEO Joseph Otting, who previously held the top job at the OCC and OneWest Bank.
Federal Deposit Insurance Corp. Vice Chair Travis Hill has called for a full reproposal of the Basel III endgame capital standards, emphasizing the need for joint advancement by all three major federal banking agencies and an additional comment period for industry feedback.
