SouthState outpaces estimates, buoyed by NII and fees
Just weeks after closing its purchase of Independent Bank Group, SouthState reported higher than expected earnings per share for the fourth quarter.
Stearns Bank acquisition reflects shift in warehouse lending
The acquisition adds mortgage warehouse lending to Minnesota’s Stearns Bank, the latest to offer the service during a multiyear period that has seen several new entrants and exits.
Mufarrige to lead FTC’s Bureau of Consumer Protection
Christopher Mufarrige is named acting director of the FTC’s Bureau of Consumer Protection; TD Bank promotes Andrew Stewart, Nadir Johnes and Jo Jagadish; PayPal’s John Kim is leaving the company; and more in this week’s banking news roundup.
Associated sees greener pastures in 2025 after fourth-quarter loss
Associated Banc-Corp in Green Bay, Wisconsin, reported a $164 million fourth-quarter loss Thursday. The $43 billion-asset Associated telegraphed the likelihood of year-end red ink in December, when it announced a major balance-sheet restructuring plan involving the sale of $2 billion in mortgages and securities at a loss.
Rule blocking banks’ custody of crypto is withdrawn
Bankers applauded the news, which means that it’s possible for crypto-custody efforts at depository institutions to scale.
Trump AI order sets innovation-first tone
The new policy will “make America the world capital in artificial intelligence and to dominate and to lead the world in AI,” said David Sacks, recently appointed AI czar, as the president signed the order.
SCOTUS lifts CTA injunction, though hurdles remain
The Supreme Court nullified one of two nationwide injunctions on the Corporate Transparency Act, a law requiring corporations to disclose their beneficial owners. A separate injunction in another Circuit remains in effect, however.
Europe seen delaying bank trading rules on Trump uncertainty
Industry representatives such as the European Banking Federation are lobbying the European Commission to push back stricter capital standards rules until the beginning of 2027.
Press Release: FDIC Approves Merger Application for WesBanco Bank, Inc., Wheeling, West Virginia
PRESS RELEASE | JANUARY 24, 2025 FDIC Approves Merger Application for WesBanco Bank, Inc., Wheeling, West Virginia WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) approved a Bank Merger Act (BMA) application submitted by WesBanco Bank, Inc., Wheeling, West Virginia, to acquire and merge with Premier Bank, Youngstown, Ohio. The resulting bank will operate in […]
Trump order demands access to banking for crypto firms
The executive order also calls for regulations to be written for the digital asset industry.