PPP Reopens With $284B for Small Business Loans
The revamped COVID-19 relief program also allows some companies to apply for a second draw of up to $2 million.
Over 1.6M Small Firms Get Corona Crisis Loans
The Paycheck Protection Program has "enjoyed broad-based participation from lenders of all sizes and a wide array of industries and businesses."
U.S. Exempts Small Banks From Volcker Rule
Regulators have adopted a final rule allowing community banks to engage in proprietary trading.
Bank Profits Rise 7.7% to $43.7 Billion in Q4
The number of financial institutions on the FDIC’s “problem list” fell to the lowest level in more than seven years.
Community Banks Still Struggling with Compliance Costs
While Bank of America might be able to absorb additional compliance costs, the additional rounds of paperwork and auditing could crush a community bank.
People’s United to Buy Suffolk Bancorp for $402M
Suffolk's "strong Long Island presence complements our previous acquisitions and organic growth in the New York Metro area," People's CEO says.
Bank Profits Increase 5.1% to $40B
The increase in third-quarter earnings was mainly attributable to a $3.2 billion decline in noninterest expenses.
Smaller Banks Are Dodd-Frank Losers
The regulations coming out of the law are driving community banks to consolidate and making them less profitable.
CFO Banks Face Time with Customers
Q2's business model is foreign to the small banks the company pitches to, so the finance chief helps drive sales.
Community Banks Lead Industry in Profit Growth
The sector's first-quarter net income rose 16% from a year ago, compared to 6.9% for all FDIC-insured banks.
Private Investors Profiting From TARP Auctions
Many community banks now owe TARP dividends to outside investors or have to buy back preferred shares at a premium.