Flux Power, a developer of lithium-ion energy storage solutions for the electrification of commercial and industrial equipment, renewed the available credit under its existing $14 million facility with First Citizens Bank. read more

APR 28, 2023 - 7:01 am

SVB Financial Group, which is no longer affiliated with Silicon Valley Bank, filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York to preserve value. read more

MAR 20, 2023 - 7:24 am

Allegiance Bancshares, the holding company of Allegiance Bank, and CBTX, the holding company of CommunityBank of Texas, jointly received regulatory approval from the FDIC for their merger. read more

JUN 20, 2022 - 6:29 am

Marlin Business Services terminated its Capital Maintenance and Liquidity Agreement with the Federal Deposit Insurance Corporation. read more

APR 1, 2020 - 6:55 am

The Fed, FDIC, NCUA, OCC, CFPB and state banking regulators issued an interagency statement for financial institutions working with borrowers affected by the coronavirus. FASB concurs with the approach. read more

MAR 23, 2020 - 7:00 am

The Wall Street Journal reported that FDIC Chairman Jelena McWilliams has asked FASB to defer CECL implementation for large public lenders. The Journal noted that McWilliams advocated for large lenders to have the option to use the old model of... read more

MAR 20, 2020 - 6:45 am

First Women’s Bank, an innovative commercial bank with a strategic focus on the women’s economy, filed applications with the FDIC to organize FWBank. read more

SEP 24, 2019 - 6:40 am

BancorpSouth Bank received regulatory approvals from the FDIC to complete its proposed mergers with Summit Bank and Texas Star Bank. read more

AUG 19, 2019 - 6:53 am

The FDIC issued a Financial Institution Letter reminding its member banks with less than $1 billion in total assets to account for the risk posed by the use of technology service providers in the event of a cessation of operations or data breach. read more

APR 5, 2019 - 6:45 am

The FDIC reached a $335 million settlement with PricewaterhouseCoopers related to professional negligence claims brought by the FDIC against accounting firm arising out of the audits of the failed Colonial Bank. read more

MAR 18, 2019 - 6:55 am

The Federal Reserve Board and the FDIC will jointly hold two public meetings on the proposed merger of BB&T and SunTrust Banks. read more

MAR 15, 2019 - 6:50 am

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation reported aggregate net income of $59.1 billion in the fourth quarter of 2018, up $33.8 billion (133.4%) from a year ago. read more

FEB 22, 2019 - 6:40 am

The FDIC announced that the Deposit Insurance Fund Reserve Ratio has reached 1.36%, exceeding the statutorily required minimum reserve ratio of 1.35% ahead of the September 30, 2020, deadline. read more

NOV 30, 2018 - 6:35 am

FDIC-insured institutions reported $62 billion in net income in Q3/18. Industry net income registered a strong increase of 29.3% from a year ago. Community Bank net income rose 21.6% year over year. read more

NOV 21, 2018 - 6:55 am

According to a FDIC survey, despite holding only 13% of banking industry assets, the data showed community banks hold 42% of small business loans. read more

OCT 2, 2018 - 6:35 am