Genesis Bank in Newport Beach, California, agreed to buy EH National Bank in Beverly Hills for an undisclosed amount of cash. EH National operates as the $300 million-asset Excel Bank, which has three branches, $238 million in loans and $242 million in deposits. The transaction is expected to close by mid-2025.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
The top Democrats on the House and Senate banking committees are accusing the Federal Reserve of dismantling the stress test framework by seeking to make the process more transparent.
F.N.B. Corporation has grown assets nearly 10x in two decades. On the latest episode of the ABA Banking Journal Podcast, presented by Nexcess, Vincent Delie discusses the role of data science, tech transformation and AI capabilities in supporting...
Federal Reserve Chairman Jerome Powell said he will remain on the Fed board following the end of his term as chairman on May 15, pointing to remarks by Trump administration officials that a criminal investigation of the central...
Oregon has adopted a new tax incentive in an effort to end a nearly two-decade drought in de novo bank formation in the state, according to the Oregon Bankers Association. It is the second state to adopt such...
The FOMC voted to maintain the target range of the federal funds rate at 3.5%-3.75%. Fed Governor Stephen Miran voted against the action, preferring a cut of 25 basis points, while three governors supported holding the target range...
New orders for manufactured durable goods increased $2.6 billion, or 0.8%, from the previous month to $318.9 billion in March, the U.S. Census Bureau said in its most recent advance report.
