Banking News and Analysis | Banking Dive
Goldman names 95 new partners, most since 2010. The bank touted the diversity of its new class, which included 26 women. But that’s 27%, short of 29% from two years ago. About 4% of new partners are Black, less than half the 9% from 2022. Regulations & Policy.
Bank of America customer data exposed in IT provider breach
Feb 13, 2024 · A November 2023 “cybersecurity event” at Infosys McCamish Systems exposed Bank of America customer data, according to a breach notification letter from the bank’s outside counsel filed with the Office of the Maine Atto r ney Gene r al.. Customers’ first and last names, addresses, business email addresses, dates of birth and Social Security numbers may have …
WesBanco to buy Ohio’s Premier Financial in $959M deal
Jul 26, 2024 · Dive Brief: Wheeling, West Virginia-based WesBanco has agreed to acquire Defiance, Ohio-based Premier Financial Corp. and its Youngstown-based bank subsidiary in an all-stock deal worth roughly $959 million, the banks said Friday.; The transaction, expected to close in the first quarter of 2025, would create a bank with roughly $26.9 billion in assets, …
Five Star Bank bets on its California roots in Bay Area move
Aug 27, 2024 · The “great turmoil” of spring 2023, with the failures of Signature, First Republic and Silicon Valley Bank, presented a prime opportunity for $3.7 billion-asset Five Star to go after talent and banking relationships in the San Francisco Bay Area, Beckwith said. James Beckwith. Permission granted by Smriti Shakargaye.
Busey, CrossFirst to merge in $916.8M deal - Banking Dive
Aug 27, 2024 · Dive Brief: Champaign, Illinois-based Busey Bank and Leawood, Kansas-based CrossFirst Bank will merge in a $916.8 million all-stock transaction set to close in the first half of 2025, the banks said Tuesday.; The combination will create a bank with a 10-state footprint, counting 77 locations, roughly $20 billion in assets, $17 billion in deposits, $15 billion in loans …
Truist names COO, hires away Wells Fargo exec | Banking Dive
Nov 15, 2023 · Truist created a chief operating officer role and hired away a Wells Fargo executive to become its new chief wholesale banking officer, the bank announced Tuesday.. Truist’s vice chair, Beau Cummins, will become COO immediately, the bank said. Cummins has been with Truist or predecessor SunTrust since 2005, according to his LinkedIn profile.Before …
Truist CEO on cost cuts: We needed ‘a shock to the system’
May 31, 2024 · Dive Brief: Truist CEO Bill Rogers on Thursday said the bank remains focused on streamlining expenses after announcing “sizable reductions” last year. “We felt we needed to have a little bit of a shock to the system,” Rogers said Thursday at a Bernstein conference.; Where Truist’s expense base had been growing by mid-single digits previously, the bank has said it …
Breaking down capital requirements - Banking Dive
Dec 4, 2023 · Minimum: 6%, well-capitalized: 8%. Total Risk-Based Capital: This ratio is total capital — tier 1 and tier 2 capital — divided by risk-weighted assets. Minimum: 8%, well-capitalized: 10%. Regulatory scrutiny is common when a bank falls below well-capitalized. For this reason, banks typically look at well-capitalized requirements as a ...
Wells Fargo faces new class-action suit over cash sweeps
Sep 26, 2024 · The complaint pointed out that Fidelity, a Wells rival, sweeps uninvested cash in its clients’ brokerage accounts into a money market fund earning roughly 5%. A Wells Fargo spokesperson declined to comment to Banking Dive. The bank has faced regulatory scrutiny for underpayment of interest rates in cash sweep accounts and other alleged ...
BNY rebrands with new logo but no Mellon | Banking Dive
Jun 11, 2024 · The oldest U.S. bank revealed its shortened name, a modern font and teal coloring Tuesday. Some revisions can be expected over the next year, the bank said. The Bank of New York Mellon Corp. stands in lower Manhattan on October 12, 2022. The bank rebranded its existing logo and name June 11, 2024. Spencer Platt/Getty Images via Getty Images.