Fulton details Philly boost it’s getting from Republic First takeover
The first bank failure of 2024 will result in the Lancaster, Pennsylvania-based Fulton nearly doubling deposits in Philadelphia, a market it has viewed as strategically important for several years.
UMB Financial to acquire Heartland Financial for $2 billion
The combination of the two regional banks is set to create a $64.5 billion-asset company with a 13-state footprint across parts of the Midwest, South and West.
The Fed is talking, but markets still hear what they want to hear
Banks and other financial market participants have been keyed into the central bank’s communications around monetary policy expectations. But in an unpredictable economy, the guidance doesn’t always hit the mark.
Michigan credit union helps members borrow from friends and family
Michigan State University Federal Credit Union is working with the relationship-based lending app Zirtue to offer members a tool for outlining lending agreements and repayment plans.
SBA’s push to revive an old idea
Isabel Casillas Guzman, administrator of the Small Business Administration, wants the agency to get involved in direct lending, a practice that was discontinued during the Clinton administration. Congress has not embraced the idea, to put it mildly.
Yes, your bank has a supply chain, and it’s fraught with risk
Extensive partnerships with third-party service providers, fintechs and other partners are the banking equivalent of a supply chain, and bankers need to be clear-eyed about assessing the risk associated with them.
Meet the bank that’s replacing every debit card with wood
GLS had already stopped issuing first-use plastic as of 2018, but it wasn’t enough for the eco-minded German bank. Fake plastic still looks and feels like plastic.
FDIC sides with Colorado in court tussle over high-cost loans
The Federal Deposit Insurance Corp. is arguing that Colorado has the right to establish an interest rate cap that all state-chartered banks must follow. Three industry groups are suing the state in an effort to stop its attempted crackdown.
Republic First fails; Fulton Bank acquires assets, branches
The Philadelphia-based bank’s parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
PRESS RELEASE: Fulton Bank, N.A. of Lancaster, Pennsylvania Assumes Substantially All Deposits of Republic First Bank, Philadelphia
PRESS RELEASE | APRIL 26, 2024 Fulton Bank, N.A. of Lancaster, Pennsylvania Assumes Substantially All Deposits of Republic First Bank, Philadelphia WASHINGTON — Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, […]