Executives at First Citizens BancShares pointed Friday to several positives following its March 2023 acquisition of the failed Silicon Valley Bank. At the same time, they warned of…
Read more First Citizens is retaining SVB clients, but cites ‘headwinds’ to growthAccording to a recent survey of chief risk officers at banks, about 90% of respondents reported plans to upgrade at least one of their treasury risk management capabilities,…
Read more Here's what's worrying chief risk officersBill Demchak, chairman, president and CEO of PNC Financial Services Group. Gettyimages/Drew Angerer PNC Financial Services Group is far from the flashiest bank around. The Pittsburgh-based bank isn’t…
Read more Banker of the Year: PNC’s Bill DemchakUSAA had the best reputation among customers and noncustomers for the seventh year. Management attributed that to focusing on serving the needs of military members and their families,…
Read more Banking crisis drags down reputations across the industrySenate Banking Committee ranking member Tim Scott, R-S.C., and House Financial Services Committee chair Patrick McHenry, R-N.C., would be in a position to rescind any banking rules…
Read more Clock ticking for regulators to Congressional Review Act-proof new rulesPNC’s securities are said to have yielded 1.73 percentage points over Treasuries, compared with early pricing discussions of 1.95 percentage points. Stefani Reynolds/Bloomberg PNC Financial Group Services has tapped…
Read more PNC sells $750 million of bonds as banks rush to raise cashThe Federal Deposit Insurance Corp. announced Friday night that Kansas-based Dream First Bank would be acquiring all deposits and most of the assets of shuttered Tri-State Bank.Bloomberg…
Read more Dream First Bank assumes Heartland Tri-State Bank’s depositsA PacWest branch in Encino, California. It was announced on Tuesday that the Los Angeles-based institution had agreed to sell to Banc of California. The transaction is expected…
Read more Embattled PacWest to sell to Banc of California for $1BChristopher Boswell/Christopher Boswell – stock.adob Cross River Bank climbs past real-time payment transaction benchmark Cross River Bank, a banking-as-a-service provider that makes loans through fintech lenders, announced this…
Read more Banking news roundupWASHINGTON — House Democrats raised concerns with Treasury Secretary Janet Yellen Tuesday about whether invoking the systemic risk exception in Silicon Valley Bank and Signature Bank’s failures was…
Read more Democrats still have questions for regulators about the bank failuresMorgan Lieberman/Bloomberg PacWest Bancorp has completed the first part of the sale of a $5.7 billion loan portfolio to the real estate investment company Kennedy Wilson Holdings as…
Read more PacWest begins sale of $5.7 billion loan portfolio to Kennedy WilsonAfter the collapse of Silicon Valley Bank, the public discourse has been brimming with hindsight advice on what regulators and lawmakers have missed. Yet nobody is talking about…
Read more Either regulate Big Tech’s entry into finance now, or regret it laterFederal Reserve vice chair for supervision Michael Barr, left, is joined by Federal Deposit Insurance Corp. chair Martin Gruenberg and Treasury under secretary for domestic finance Nellie Liang…
Read more What’s next for Fed supervision? Basel’s Pillar 2 may hold the keyPacWest Bancorp agreed to sell its Civic Financial Services unit to real estate lending firm Roc360, as the regional bank seeks to bolster liquidity following turmoil among its…
Read more PacWest to sell Civic Financial to real estate lender Roc360Port and streets of Aarhus, Denmark.Cathrine Ertmann/Bloomberg (Bloomberg) –U.S. bank deposits fell for a third week to the lowest level in nearly two years, extending a yearlong slide…
Read more U.S. bank deposits fall for a third week while lending stays little changedMichael Roffler, former chief executive officer of First Republic Bank, testified before the House Financial Services Committee Wednesday. Republicans and Democrats alike excoriated the failed bank CEOs…
Read more Failed bank CEOs face another round of bashing in CongressBrex was one of the 20 companies that put their hat in the ring to acquire Silicon Valley Bank, or chunks of it, in March, newly-released Federal Deposit…
Read more Brex tried to buy a piece of Silicon Valley Bank in MarchFederal Reserve Gov. Michelle Bowman said in a speech Friday in Frankfurt, Germany that calls for “fundamental” reforms in the banking system following the collapse of Silicon Valley…
Read more Fed’s Bowman: Recent failures don’t justify higher capital requirementsAfter acquiring the remains of Silicon Valley Bank in March, First Citizens BancShares is counting on higher rates at its direct bank — as well as outreach to…
Read more First Citizens turns to its direct bank to offset lost SVB depositsPolicies enacted under former Federal Reserve Vice Chair for Supervision Randal Quarles took center stage in the Fed’s recent report on the failures of its supervisory practices. But…
Read more For Fed supervision, cultural shortcomings are nothing new
