Home Loan bank dividends are not ‘excessive.’ They’re oddly low.
Analyzed from a property rights perspective, the dividends paid by the Federal Home Loan banks to their members are surprisingly stingy, and vary wildly between the different banks.
First Federal reorganizes, Regions wins presidential award
First Federal Bank of Kansas City finalized a plan to reorganize its corporate structure; Regions Bank in Birmingham, Alabama, was one of 10 to win the “President’s ‘E’ Award for Export Service”; Rhode Island-based Citizens Financial Group named Jim Weiss as Florida market president; and more in this week’s banking news roundup.
The NYCB-Signature deal was a spectacular regulatory failure
There were significant red flags that regulators overlooked when allowing New York Community Bank to acquire Signature Bank. Those include the fact that the company was still integrating the Flagstar Bank transaction.
Regulators thought too narrowly in OK of NYCB-Signature deal
New York Community Bank’s acquisition of the failed Signature Bank helped with its liquidity. But there were other considerations that decisionmakers overlooked in allowing the transaction to take place.
Why a serial acquirer in Texas agreed to get acquired
SouthState Corp. plans to purchase Independent Bank Group in a $2 billion deal, marking an end to the latter bank’s long run of buying companies. Chairman and CEO David Brooks pointed to a challenging interest rate environment and heightened regulatory scrutiny as reasons he decided to sell.
Uninsured bank on track for Fed master account approval
Numisma Bank, a de novo bank backed by former Federal Reserve Vice Chair Randal Quarles, is the first bank without deposit insurance to be granted conditional approval under the Fed’s new master account application framework.
McHenry demands Gruenberg testify on FDIC toxic culture
House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., told Federal Deposit Insurance Corp. Chairman Martin Gruenberg to make himself available for a June 12 hearing on the agency’s workplace culture.
TD’s U.S. expansion plans called into question amid regulatory troubles
Executives at the Toronto-based bank said last year that they planned to add 150 branches in the United States. But when pressed on Thursday, they could not say how much they’ll scale back their ambitions due to investigations over TD’s anti-money laundering practices.
RBC to use AI to understand customer intent and recommend products
The bank plans to use artificial intelligence to make recommendations based not just on transaction analysis, but on shopper intent and behavioral data.
American Banker news quiz: May 23
In this week’s edition of the American Banker news quiz, see how well you know current items about the Federal Deposit Insurance Corporation, mergers and acquisitions, the Consumer Financial Protection Bureau and more.