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Proceeds from the sale provide the bank with "flexibility to evaluate and pursue various strategic initiatives to redeploy capital in support of our core banking business," Evans CEO David Nasca said.
November 8 -
The Southeast regional bank plans to use the deal's sizable proceeds to pay down wholesale borrowings and restructure its securities portfolio. Numerous banks have made similar moves in recent months.
October 24 -
The FDIC launched a campaign Wednesday to educate the public about the importance of deposit insurance, a move designed to counter lingering concerns arising from this spring's bank failures and the resurgence of imitation banks.
October 13 -
Truist Bank has agreed to pay licensing fees to USAA for the use of mobile-check-deposit technology that USAA says it invented.
October 10 -
Chubb's Banks and the Digital Wallet Race: The Embedded Insurance Strategy looks to gauge how fintechs and banks view embedded insurance.
October 5 -
M&T Bank, Truist Financial and Eastern Bankshares are among the banks that have sold all or part of their insurance subsidiaries over the last year. Though the price is right, analysts warn that when interest rates decline, sellers will be without a key source of fee income.
October 3 -
In the six states where credit score matters the most, a driver with no credit pays on average 94% more for car insurance than a driver with exceptional credit.
September 26 -
In the five states where credit score matters the least, a driver with no credit pays on average just 11% more for car insurance than a driver with outstanding credit.
September 25 -
The top five cities in the ranking have an average total score of 64.06.
September 8 -
The card network has agreed to pay USAA licensing fees for the use of mobile deposit capture technology. USAA says it plans to keep trying to get other banks to do the same.
August 30