FDIC Related Content

Marlin Terminates Capital Maintenance and Liquidity Agreement with FDIC

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

Regulators Offer Guidance for Troubled Debt Restructurings

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

FDIC Chairman to FASB: Defer CECL

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

First Women’s Bank Submits FDIC Application, Names Board of Directors

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

FDIC Approves BancorpSouth Mergers with Summit, Texas Star

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

FDIC Issues Guidance to Member Banks Regarding Fintech Partnerships

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

PwC Reaches $335MM Settlement with FDIC Over Audits of Failed Bank

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

Federal Reserve to Host Public Meetings on BB&T/SunTrust Merger

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

FDIC-Insured Institutions Report Net Income of $59.1B in Q4/2018

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

FDIC: Banks Meet Deposit Insurance Fund Reserve Ratio Ahead of Schedule

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

FDIC-Insured Institutions Report $62B in Q3/18 Net Income; Up 29.3% Y/Y

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

FDIC: Community Banks Hold 42% of Small Business Loans

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

FDIC: Q1 Bank Earnings Up 27.5%; Chairman Warns of ‘Reach for Yield’

The FDIC reported Q1/18 aggregate bank earnings of $56 billion were up 27.5% from the same quarter last year. The FDIC chairman noted an “increasingly competitive lending environment has led some institutions to reach for yield.” read more

Fed Agencies Propose Revision of CECL Accounting Standard

The federal banking agencies proposed a revision to the regulatory capital rules to address and provide an option to phase in the capital effects of the new accounting standard for credit losses. read more

FDIC: New Tax Law Causes Q4/17 Bank Net Income to be 40.9% Lower

The FDIC reported commercial banks and savings institutions Q4/17 net income was 40.9% lower than a year ago largely due to one-time changes from the new tax law. read more

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