OCC, CFPB fine Wells Fargo $1 billion over auto loan and mortgage practices
The Office of the Comptroller of the Currency fined Wells Fargo $500 million over risk management, auto loan and mortgage practices. [Continue]
Iowa’s First National in Ames to acquire Clarke County SB
First National Bank, Ames, Iowa, announced April 19 it has reached an agreement to acquire Clarke County State Bank in Osceola, Iowa, in a stock purchase. [Continue]
Deal gives QCR entry into Springfield, Mo. market
QCR Holdings, Inc., of Moline, Ill., is purchasing the Springfield, Mo.-based Springfield Bancshares, Inc., the holding company of Springfield First Community Bank. The deal was announced April 18. QCR Holdings will continue to operate SFC Bank retaining its separate charter and brand within the Springfield market. SFC Bank opened in 2008. [Continue]
Associated extends its minority, LMI lending program
Associated Bank, N.A., Green Bay, announced it will commit $2.4 billion in loans and investments in minority communities, low- to moderate-income communities, and small businesses throughout Wisconsin, Illinois and Minnesota between now and 2020. Highlights of what Associated calls its Community Commitment Plan include: [Continue]
Kansas bank regulator tapped for community bank spot on Fed board
Michelle Bowman was nominated April 16 by President Trump to join the Federal Reserve Board. Bowman currently serves as the Bank Commissioner for Kansas. [Continue]
Holding Company merges banks
Ameri Financial Group., Inc., of Stillwater, Minn., has merged its two banks into a single charter: Eagle Valley Bank of St. Croix Falls, Wis., has merged into First Resource Bank of Lino Lakes, Minn. First Resource Bank now has four offices and nearly $200 million in assets. [Continue]
Fewer credit delinquencies reflect strengthening economy
More people are paying off their debts in a timely manner, according to information released by the American Bankers Association for the fourth quarter. Closed-end loan delinquencies fell across the board, while bank card delinquencies showed significant decline as well. [Continue]
Triumph Bancorp announces acquisitions, public offering
Triumph Bancorp, Inc., (TBK), Dallas, announced April 9 that it has signed definitive agreements to acquire First Bancorp of Durango, Inc., and Southern Colorado Corp. The company also announced the entry into an asset purchase agreement by Advance Business Capital d/b/a Triumph Business Capital to acquire the transportation factoring assets of Interstate Capital Corporation. [Continue]
North Dakota bank purchases electronic payments processor
First International Bank & Trust, a $2.5 billion bank based in Watford City, N.D., has acquired InterceptEFT. Former owners Craig Dresser and Bryan Smith intend to stay with the Fargo, N.D.-based electronic payments processor, which serves some 74,000 companies across the country. [Continue]
Bankers report high expectations for 2018
Bankers see their businesses heating up — with expectations reaching new heights on overall economic conditions, according to Promontory Interfinancial Network’s Bank Executive Business Outlook Survey Report. Respondents’ answers to quarterly Bank Executive Business Outlook Surveys from 2017 shed light on bankers’ experiences over the past year and on what’s to come in 2018. [Continue]