Federal Financial Institutions Examination Council member agencies are making several changes to the Uniform Bank Performance Report on or shortly after March 25, 2024. These changes are necessitated by the current expected credit losses methodology nomenclature changes to the March 2024 Call Reports, according to FFIEC. In addition, changes are being made in response to the Accounting Standards Update 2022–02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.”
Grasshopper to buy Auto Club Trust
Grasshopper Bank in New York City has agreed to buy Auto Club Trust in Dearborn, Michigan. The $485 million-asset Auto Club Trust is a federal savings bank owned by The Auto Club Group.