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Huntington Bank is launching a new deposits business to expand its commercial offerings to the real estate sector, with a focus on homeowners associations (HOAs) and property management companies. The bank's goal is to grow its commercial deposits by about $5 billion through this strategy. The HOA sector is seen as an attractive segment due to its cash-rich nature, and there are opportunities for cross-selling other bank products. Huntington plans to roll out its offerings in the coming months and expand to other business segments in the future. [Extracted from the article]

Chicago-area banks are still dealing with the consequences of the collapses of Silicon Valley Bank and Signature Bank from a year ago. The U.S. Federal Deposit Insurance Corp. required larger financial institutions to replenish a depleted insurance fund, resulting in higher expenses for banks in the past two quarters. However, the worst is likely over as most of the requirements have been met. Chicago banks have paid a total of $10.6 billion to meet the new FDIC requirements, which impacted 113 of the country's largest banks. [Extracted from the article]

THE LIST OF APPROVED BANKS: Amalgamated Bank Bank of America Bank of New York Mellon BankUnited Capital One Citibank Citizens Bank ConnectOne Bank Dime Community Bank Flushing Bank Habib American Bank International Finance Bank Israel Discount Bank JPMorgan Chase KeyBank Modern Bank M&T Bank New York Community Bank PNC Bank Popular Bank Santander Bank Spring Bank State Street Bank TD Bank US Bank Valley National Bank Webster Bank Wells Fargo After the failures of Silicon Valley and Signature Bank, anxious customers withdrew uninsured deposits at small and midsize banks everywhere. [Extracted from the article]

Longer-term bonds deliver higher yields, but they carry some risk because their market value falls when interest rates rise, as SVB discovered to its sorrow. In a report last week, Odeon Capital analyst Dick Bove reported which banks are vulnerable to the balance-sheet mismanagement that sank SVB. [Extracted from the article]

Questions are swirling around the swift and surprising failure of two large regional banks and what it means for depositors, investors and the broader economy. The bank's depositors were especially anxious because the tech sector has had an awful year since the Federal Reserve started raising interest rates. [Extracted from the article]

Wells Fargo plans to roughly quadruple its retail presence in the Chicago area in the next several years, opening more than 20 new branches. Wells Fargo is making its push at a time when high interest rates have banks competing aggressively for deposits, and consumers and businesses are nervous about high borrowing costs. [Extracted from the article]

Chicago private-equity firm GTCR has made a timely investment in a firm that works with banks to provide fully insured deposits to large firms whose cash in banks well exceeds the regulatory limit for deposit insurance. For GTCR, this investment continues an active year marked in particular by the largest single investment in its history, a majority stake in payments processing giant Worldpay, which valued that company at $18.5 billion. [Extracted from the article]

Founded in 1999, Buckeye is among a somewhat diminishing breed of locally owned community banks, which often are acquisition targets for larger banks looking to make a splash in a new market or grow their share of an existing one. After operating out of just one location in its Lorain homestead for 24 years, Buckeye Community Bank is ready to stretch its legs. [Extracted from the article]

Ordinarily, unless loans are souring because of recessionary conditions, loan growth like that would mean a major increase in net interest income; a decrease would be almost unimaginable. The net result: Net interest income - money made on loans and securities minus cash paid to depositors and lenders - fell to $17.7 million from $22.5 million despite loan growth of 27% in the year that ended June 30. Banks' cost of cash has risen so dramatically in the past year that many are seeing the money they earn on loans and other assets drop despite substantial loan growth. [Extracted from the article]

MORE BARE-KNUCKLED Deposit deals available in the Chicago market right now include a 5.35%, 11-month CD at Wintrust, the fourth-largest area bank by deposits, for $1,000 or more not already stashed there. Banks want your money - in a way they haven't for more than 15 years. [Extracted from the article]

The leadership transition in Chicago was part of a regional reorganization of JPMorgan's private bank, in which a new Midwest region was carved out of what before had been a broader Central region. One banking giant that ought to know says no.: And JPMorgan Chase is putting its money where its mouth is. Over the next five years, JPMorgan Chase is planning to triple the number of advisers in its Chicago private bank catering to wealthy families and individuals. [Extracted from the article]

Three local banks will have to dig in their pockets to help pay for the Federal Deposit Insurance Corp.'s rescue of uninsured depositors in failed Silicon Valley Bank and two other regional lenders that recently went bust. Assuming BMO is responsible for the uninsured deposits on Bank of the West's balance sheet as of Dec. 31, the bank would have to pay the FDIC $302 million over two years. [Extracted from the article]

BMO Harris Bank CEO Dave Casper is retiring, the bank announced April 20. Succeeding Casper, who has led the U.S. operation of Toronto-based parent BMO Financial Group since 2018, will be Darrel Hackett, a 19-year BMO veteran. [Extracted from the article]

: No Chicago banks appear to exhibit liquidity vulnerabilities as profound as SVB Banks' securities portfolios - depending on how they invested their cash prior to the rate hikes - are in many cases embedding large unrealized losses. Securities portfolios that once would have offered banks a reassuring cushion against deposit outflows no longer are performing that role in many cases due to the Federal Reserve's war on inflation via rapidly increasing interest rates. [Extracted from the article]

Federal regulators in court filings say that Fifth Third Bank's admissions of past wrongdoing in opening deposit and credit card accounts without customers' knowledge or consent vastly understate the scope of the problem. Regulators accuse Fifth Third of trying to impede access to former employees who could shed light on bank practices from 2010 to 2016, the time period on which the lawsuit is focused. [Extracted from the article]

Regaining the top slot after being displaced for a year by Chase is Rosemont-based Wintrust Financial, the fifth-largest area bank by deposits. In Illinois banking world, customer satisfaction tumbles: Rosemont-based Wintrust Financial reclaimed the top spot from JPMorgan Chase in J.D. Power's annual retail banking survey. MORE HELP Consumers want more personalized service from their banks, despite a banking landscape that rapidly has gravitated to digital transactions, said Jennifer White, senior consultant for banking intelligence at J.D. Power. [Extracted from the article]

The bank, along with Byline Bank, has been the local industry's most aggressive buyer of banks like West Suburban in recent years. West Suburban is one of a dwindling breed on the Chicago banking scene - a privately held bank large enough to provide a meaningful market share boost to a buyer or serve as a platform for an out-of-town player seeking to break into the market. : West Suburban, the area's second-largest privately owned bank, seeks a buyer. [Extracted from the article]

BMO Harris may be Toronto's star, but it takes brunt of job cuts: The U.S. accounted for a record-breaking 43 percent of fiscal first-quarter earnings for Canada's BMO Financial Group. The U.S. arm of Canada's BMO Financial Group, led by Chicago-based BMO Harris Bank, has shattered the record for how much it's contributed to its parent's profits. Meanwhile, in Canada, where BMO employs more than double the number it does in the U.S., the bank reduced its workforce by a little over 4 percent. [Extracted from the article]

With customers venturing out less and relying more on technology to do their banking, the COVID-19 pandemic has presented a prime opportunity for many regional banks to speed up strategic branch closures, shaving off costs along the way. US Bank, the largest bank in Ohio by deposit market share, shuttered 25 Ohio branches in 2020 and 14 in January. [Extracted from the article]

Expect 2021 to be a big year for bank deals: Most of the action will involve smaller institutions. Cincinnati-based Fifth Third floundered in the Chicago market for two decades before landing a big one with its 2019 acquisition of Chicago's MB Financial. The smaller bank deals that don't move the needle for larger banks make a difference for Byline. [Extracted from the article]

The article discusses the growing popularity of saving trend among Americans. It is stated that before the recession in 2008, Americans had the habit of saving a little. It is reported that from June 2007 to June 2010, the total money deposited in savings accounts and market accounts in Greater Cleveland, Ohio, has doubled. It is stated that between August 2009 and August 2010, the number of savings accounts opened at Fifth Third Bank in Northeastern Ohio has reached 46%.

"We monitor it every day", says Edward Wehmer, CEO of Rosemont-based Wintrust Financial, the fourth-largest area bank by deposits and an important local business bank. The bank has the liquidity to make those loans if businesses need the cash to make it through the crisis, Wehmer says. First Midwest, another important local business lender, also hasn't had many business clients tapping their entire lines of credit, Sander says. [Extracted from the article]

Huntington Bank's latest cost-saving move calls for closing 30 branches in Giant Eagle stores across the bank's footprint. Smith could not address any future plans for consolidations, and did not speak to approximately how much the latest round of branch closures will save the bank in costs. [Extracted from the article]

Lists several banks in Northeastern Ohio are ranked according to deposits as of June 30, 2002. Holding companies of the banks; Executives of the banks; Total number of company wide employees in the banks.

This article reports that the interest rate on certificates of deposit (CD) has increased to 5 percent for the first time in six years in New York. Consumers are rushing to invest their money in various banks in New York. They are keen to take advantage of the higher returns and the security. The trend is even forcing New York's big banks to boost their rates to satisfy their customers. Community banks are setting the pace. Manhattan, New York City-based Park Avenue Bank opened a branch in Borough Park, Brooklyn, New York City in September 2005. Citibank is offering 4.6% to checking account customers who open six-month CDs online.

The article presents information related to Bank of America Corp. It is offering considerably less than other big banks, from rates paid on savings accounts to certificates of deposit. Federal data clearly showed Bank of America Corp. hovering below the 10% cap. In June 2005, Bank of America Corp.'s share of the deposit market in the New York City area slumped to 6.6%. The net loss of $35 million in deposits is partly attributable to the merger and the departure of a number of Fleet bankers, which alienated some customers.

The article presents various news items related to business in New York. Rockrose Development Corp. is proposing construction of a residential high rise in Long Island City, Queens, that would be the largest condominium in the five boroughs. Business on Wall Street seems headed for a rough patch. Sales of new stock offerings are off 15%, compared with last year's figures, and the second half of the year looks no better. Despite the rapid rise in the number of bank branches in New York City, Commerce Bank says it is adding core deposits at a 32% annual clip in branches open at least two years.

The article focuses on the expansion planning of banks in New York. As banks continue to flood New York with branches, analysts say that the institutions are dangerously close to oversaturating the market and could lose money on their new investments. Fifteen banks and thrifts have disclosed plans to open a total of about 150 branches in the city by the end of 2006, increasing the number of outlets by a whopping 11%. Furthermore, the higher rates offered by competing investments are forcing banks to pay more for deposits.

This article focuses on disadvantages for banks by allowing their customers to spend more funds than they have. While virtually every bank in the New York City offers free checking, most institutions are quietly raking in millions of dollars from checking account charges. They are allowing, and even encouraging, customers to write checks or withdraw cash from ATMs in amounts that exceed their balances and then are socking customers with big fees for overdrawing their accounts. Last year, banks nationwide earned $9 billion from such fees, in the process accounting for nearly a third of all their fee income on deposit services.

This article focuses on business profit of insurance giant MetLife Inc. MetLife Inc. has taken $2.6 billion in deposits, built its loans and other assets to $3 billion, and managed to turn profitable a full year ahead of schedule. Key to those heady expectations is MetLife Bank's ability to offer customers better rates. The bank pays them more for their deposits and charges them less on their borrowings. MetLife is able to do all that because its costs are lower. Its customers deal with it over the phone or the Web, sparing MetLife the costly necessity of building and staffing branches. In that sense, MetLife has all the advantages of an Internet bank. Throw in the huge marketing edge of its known brand, not to mention its beloved mascot, Snoopy, and it's no wonder that MetLife Bank is going gangbusters. The drawback for customers of MetLife Bank is that it doesn't offer checking accounts or credit cards.

The article reports that Citibank Corp. is losing its retail bank market in New York. Citibank's share of consumer deposits plunged to 15 percent of the total city market in the 12-month period ended June 30, 2004, compared with 18 percent in the same period the year before. In an environment of rising interest rates, consumer deposits will remain cheaper than other sources of money for parent Citigroup, a global company with $1.4 trillion in assets. In recent months, the bank has introduced free checking and raised its interest rates on certificates of deposit, boosting them above New York metropolitan area market rates for the first time in years.

After growing more than 40% over three years and fueling a banking boom, bank deposits peaked late last year and ended 2003 with their first down quarter of the millennium. Deposits in commercial banks hit an all-time peak of $4.88 trillion during the week of August 13, 2003, according to data from the U.S. Federal Reserve Board. Small savings banks that have deep relationships with their customers and commercial banks stuffed with business deposits also will be insulated. The alternative of borrowing money from the Federal Home Loan Bank of New York or other wholesale banks to lend to their customers is relatively costly and hurts earnings.

The article focuses on Abacus Federal Savings Bank. The depositors queued up for hours and withdrew a total of $30 million from the bank as of May 11, 2003. While the emergency has ended, however, the bank's troubles have not. Some large depositors, collectively holding millions of dollars in certificates of deposit, say they are eager to drain their now-frozen funds as soon as a private bank insurance investigation is completed. They are nervous about the safety of their assets, as well as about government eyes prying into their financial affairs. The U.S. Office of Thrift Supervision has forbidden Abacus from making electronic funds transfer of cash on behalf of its customers. The problems at the bank had come into public view following reports in a Chinese-language paper that Carol Lim, a former branch manager, allegedly diverted at least $1 million from customers' accounts. The bank has a capital hoard of $30 million, up from $2 million when it was founded in 1984. Last year, the bank's assets surged 15, reaching $283 million. The bank posted earnings last year of $6.5 million, up 50 0.000000rom 2001, with help from a recession-resistant $1 billion mortgage-servicing portfolio.

Wintrust now is the fourth-largest area bank by deposits, trailing only national and regional giants JPMorgan Chase, BMO Harris Bank and Bank of America. But now, in Chicago at least, the bank that's the most unapologetically old-school - with a stated belief in brick and mortar and sporting an unusual and expensive network of more than a dozen separately chartered community banks - is undeniably winning the deposit game. [Extracted from the article]

The article focuses on competition among banks for deposits has gradually built and venerable certificate of deposit (CD). It mentions commercial banks throughout the area are offering interest rates on CDs and being flush with free cash from depositors trapped for lack of low-risk alternatives. It also mentions bank's highest percentage of CDs since the financial crisis and Federal Reserve reversed course in January 2019.

The article discusses the competition in the banking industry in Evanston, Illinois. A Federal Deposit Insurance Corp. data showed a decline in Byline Bancorp's deposits in the year ended June 30, 2018 while deposits at Wintrust Financial rose at the expense of the former First Bank & Trust of Evanston. Also discussed are the increase in the total bank deposits as of June 30 and the market-share shift between Byline and Wintrust as a consequence of acquiring customers through acquisition.

The article reports that the Community Bank of Oak Park River Forest in Illinois is searching for a buyer in 2018. Monroe Financial Partners has been hired by the community bank to handle the sale. Financial institutions Wintrust Financial and Byline Bank expressed interest to acquire the bank. The community bank's assets, deposits and market share are discussed.

The article reports on the move by some banks in the U.S. to increase interest rates on deposits to attract more customers, as of April 2018. Topics discussed include the moves by online banks like Discover Financial and local credit unions such as Alliant Credit Union to raise their interest rates and comment by Bankrate.com chief financial analyst Greg McBride on the move.

The article reports on the resurgence of client inflows at Bank of America (BofA) for the first time following its merger with Merrill Lynch & Co. According to BofA, clients already placed more money compared to the amount they have pulled off. It adds that the increased client inflows shows that division president Sallie Krawcheck's efforts in rebuilding BofA Merrill has been effective.

The article reports that Citigroup Inc.'s deposits fell 0.8%, to $774 billion as customers pulled out a net $6 billion in cash. It is stated that J.P. Morgan Chase & Co is offering a mere 0.2% interest rate for a one-year certificates of deposits (CD) in the New York area while Citi is offering New York customers a 2.6% interest rate on a one-year CD.

This article reports that twelve months after launching a new Internet bank, deposits at Emigrant Savings Bank have increased a lot. The bank's Chairman Howard Milstein took control of the bank from his cousins three years ago, after a long-running family dispute. Deposits are increasing faster than Emigrant can put them to work in the form of new loans. John Hart, Emigrant's vice chairman, says that the bank hired a very talented and experienced team of commercial real estate lenders who had national and international experience. Emigrant's rush into real estate is driven partly by the urgent need to put the surging deposits to work.

This article presents information on benefit schemes offered by various banks in New York. New York Community Bank is asking its customers to claim their car in 10 years. This offering shows the willingness of the banks, on how to retain their customers. After fading completely out of favor for more than a decade, bank gifts have roared back to popularity. In a study published last year by Celent, 70% of banks said online bill payment had a positive effect on customer retention. Banks are so hungry to lend to corporate customers that they are slashing prices and offering much more flexibility on loan terms, a official from New York bank said.

The article reports that Huntington Bank is the top bank in northeast Ohio based on shares of the U.S. deposit market, according to figures from the Federal Deposit Insurance Corp. Topics discussed include Huntington's acquisition of FirstMerit Bank, the growth of total deposits in the region, and other high ranking banks in the region which include KeyBank, PNC Bank and Citizens Bank.

The article reports on the emergence of the first signs of competitive pricing on deposits blunting earnings growth at some local banks, including Northern Trust. Topics include the nearly five percent drop in MB Financial's stock price on July 21, 2017 on disappointing earnings, rise in the average five-year certificate of deposit rates, and how the generally higher interest rates have been a boon to banks.

The article reports the move by the State Bank of Texas as of February 2017 to take over the deposits and assets of African-American-owned Seaway Bank & Trust in Chicago, Illinois. Also cited are the successful "bank black" campaign by Seaway Bank & Trust in 2016, the Illinois Service Federal as the only African-American-owned bank in the city following the takeover, and the comment by State Bank of Texas' Sushil Patel on the developments.