The Charleston-based company agreed to pay $267 million to acquire Piedmont Bank in Peachtree Corners, Georgia. It's United's 34th deal, but the first since 2021.
The Puerto Rico-based company's board of directors has given an additional title to COO Javier Ferrer, naming him president as of May 9. His career path closely resembles that of his boss, CEO Ignacio Alvarez.
Truist Financial completes the sale of its remaining stake in Truist Insurance Holdings; City National Bank has hired Rick Bechtel as executive vice president and head of mortgage and residential lending; Associated Bank names Chun Schiros as its first chief analytics officer; and more in the weekly banking news roundup.
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
Large banks, particularly those with over $100 billion in assets, see increasing supervisory shortcomings related to interest rate and liquidity risks, governance and risk control issues, and cite cybersecurity, CRE values, and remote work trends as potential hazards in the future.
American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.
A "true" stablecoin would benefit the economy by improving the money supply, facilitating frictionless payments and lowering the cost of borrowing fiat currency.
In this week's edition of the American Banker news quiz, gauge your understanding of topics like Trump's ongoing criminal trial, alleged misconduct within the Federal Deposit Insurance Corp., industry succession planning and more.
Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
Depositors are still flocking to online-only banking platforms offered by companies such as Ally, Capital One and Discover. But overall customer satisfaction took a "statistically significant" drop, according to a new J.D. Power report.
Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.
