JPMorgan Chase acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation. As part of the purchase, JPMorgan Chase is assuming all insured and uninsured deposits. read more

MAY 1, 2023 - 7:13 am

The Federal Deposit Insurance Corporation released an internal review evaluating its supervision of Signature Bank. According to the review, “the root cause of [Signature Bank’s] failure was poor management.” read more

MAY 1, 2023 - 7:12 am

The New York State Department of Financial Services closed Signature Bank over the weekend and appointed the FDIC as receiver. The FDIC transferred all deposits and assets to a bridge bank that began operations on Monday. read more

MAR 14, 2023 - 7:14 am

The Federal Deposit Insurance Corporation approved the proposed merger of First Citizens BancShares, the parent company of First Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank. read more

JUL 15, 2021 - 6:41 am

Bell Bank hired Steve Flaten as senior vice president of credit risk and regulatory affairs. Flaten recently retired from the Federal Deposit Insurance Corporation after a 33-year career. read more

FEB 23, 2021 - 6:28 am

The federal bank regulatory agencies announced an optional extension of the regulatory capital transition for the new credit loss accounting standard. read more

MAR 30, 2020 - 6:40 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

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

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

The FDIC reported industry net income was 5.2% higher in Q3/17 versus a year earlier on higher net interest income. The regulator noted, however, that “competitive lending conditions continue to pose challenges.” read more

NOV 30, 2017 - 7:25 am