After notching a big gain, MVB repositions its bond book
The Fairmont, West Virginia, bank is taking a $7.6 million hit to rid itself of $73 million in long-duration, low-yielding securities, though the sale of its payments subsidiary the week before cushions the blow.
Citizens looks within for its next commercial banking head
Don McCree, who has led commercial banking at Citizens since 2015, plans to retire next year. His successor, Ted Swimmer, who was in charge of capital markets, took over on Tuesday.
The Most Powerful Women in Banking, No. 20, Julieann Thurlow, Reading Cooperative Bank
Thurlow led the Massachusetts-based mutual bank through a merger that increased its asset size by nearly 40% while serving as the chair of the ABA last year.
FDIC eyes narrower supervision, dropping ‘reputation risk’
The Federal Deposit Insurance Corp. approved proposals Tuesday that would define “unsafe or unsound practices” and ban the use of “reputation risk” in supervisory exams.
Miran cites ‘critical importance’ of Fed independence
Federal Reserve Gov. Stephen Miran sidestepped whether policy setting pressure from the administration is a welcomed development, but reiterated that he wants to avoid succumbing to “groupthink.”
The Most Powerful Women in Banking, No. 3, Marianne Lake, JPMorganChase
The Most Powerful Women in Banking, No. 3, Marianne Lake, JPMorganChase
The Most Powerful Women in Banking, No. 7, Holly O’Neill, Bank of America
In a career spanning three decades at Bank of America, O’Neill has risen from trainee to the head of all consumer banking. In the near term, she plans to open more branches and make better use of AI.
The Most Powerful Women in Banking, No. 19, Jill Gateman, TD Bank
Commercial banking’s underserved segments—the upper middle market, for one—are creating new pathways for TD, and Gateman is running the ball.
The history of US banking is a story of innovation and reinvention
The demise of the banking industry in the U.S. has been incorrectly predicted for generations. The truth is that the industry never dies, because it never stands still.
How Swift’s blockchain could boost bank stablecoins
The messaging service is building a network of banks to support the technology that underpins digital currencies. Technology experts say this “single location” concept encourages legacy institutions to adopt digital assets, but it’s just one of many options.