Community Reinvestment Act

Bread Financial™ Releases 2023 Sustainability Report, Highlighting Company’s Continued Commitment to Customers, Investors, Society and the Environment

Retrieved on: 
Donnerstag, Mai 16, 2024
BFH, Community, Task force, Bread Financial, Career, Investment, Navigator, Bread, Community Reinvestment Act, Data management, Annual report, TCFD, Woman, Policy, Organic, Risk management, CRA, Credit card

The 11th annual report highlights how the company’s sustainability strategy encompasses corporate governance, disciplined risk management, customer experience, associate engagement, protecting our planet, and investing in our communities.

Key Points: 
  • The 11th annual report highlights how the company’s sustainability strategy encompasses corporate governance, disciplined risk management, customer experience, associate engagement, protecting our planet, and investing in our communities.
  • “At Bread Financial, our responsibilities extend well beyond the financial solutions we provide,” said Ralph Andretta, president and CEO, Bread Financial.
  • $8 million was invested in the community through grants, investments, donations and Community Reinvestment Act (CRA) commitments.
  • To learn more about Bread Financial’s sustainability milestones and commitments, view the full 2023 Sustainability Report here .

RBB Bancorp New Chair of the Board

Retrieved on: 
Mittwoch, Mai 15, 2024
Banking, Professional Services, Finance, Information technology, CFO, Royal Business Bank, Compensated emancipation, Weather, Disclosure, Community, Financial Accounting Standards Board, Chairperson, Consumer protection, Dow Chemical Company, Climate change, Senior management, Security, Chemical engineering, Corporate governance, California Department, Marketing, Earthquake, Annual report, Pandemic, FRB, FDIC, Federal Deposit Insurance Corporation, Insurance, Failure, Risk, Harvard Business School, Terrorism, Update, SBA, Community Reinvestment Act, Virginia Commonwealth University, Bank, Acquisition, Management

RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as “the Company,” announced that at their Organizational Board of Director meetings held on May 15, 2024, after the Company annual shareholder meeting, Ms. Christina Kao has been unanimously appointed as the new Chair of the Board for the Company.

Key Points: 
  • RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as “the Company,” announced that at their Organizational Board of Director meetings held on May 15, 2024, after the Company annual shareholder meeting, Ms. Christina Kao has been unanimously appointed as the new Chair of the Board for the Company.
  • Dr. James Kao, Chair of the Board for the past three years of RBB Bancorp and the Bank, will remain on the Boards of Directors and serve as chair of the new Enterprise Risk Committee.
  • I would like to express my sincere appreciation to all employees, the members of the Board of Directors, and Management Team members for their contributions.
  • RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California.

ModernFi Welcomes Rodney Hood, Former NCUA Chairman, to Its Board as It Launches the First Deposit Network for Credit Unions

Retrieved on: 
Mittwoch, Mai 15, 2024
Professional Services, Payments, Technology, Finance, Networks, Fintech, Banking, Partnership, Insurance, Wells Fargo, Silicon Valley Bank, Community, Art, Trustee, Bank of America, Silicon, University, Ecosystem, Safety, Vice, Community Reinvestment Act, Bank, Growth, Public sector, JPMorgan Chase, National Credit Union Administration, Rural Housing Service, Environment, NeighborWorks America, NCUA

Hood as the company brings a modern deposit network solution to credit unions for the first time, supporting the safety and soundness of the credit union ecosystem.

Key Points: 
  • Hood as the company brings a modern deposit network solution to credit unions for the first time, supporting the safety and soundness of the credit union ecosystem.
  • Through ModernFi's network, credit unions can grow, retain, and manage their deposit base by sourcing deposits, sweeping funds, and providing extended insurance to members exclusively through other program credit unions.
  • While deposit networks have been utilized by banks for decades to address these needs, no dedicated network for credit unions previously existed.
  • Hood is the immediate past Chairman and former Board Member of the National Credit Union Administration, bringing a wealth of credit union industry experience to ModernFi.

Financial Institutions, Inc. Announces First Quarter 2024 Results

Retrieved on: 
Donnerstag, April 25, 2024
Benefit, Common equity, Sale, NFP, Common, Federal Reserve, Investment, Nature, Bank, TCE, Tier 1 capital, As a service, Insurance, Financial institution, Risk management, Environment, Computer, Income tax, Risk-weighted asset, Acquisition, Community Reinvestment Act, Loss, Marketing, Bank statement, Five Star Bank, Community, Growth, Earnout, Video game

Net income was $2.1 million in the first quarter of 2024, compared to $9.8 million in the fourth quarter of 2023 and $12.1 million in the first quarter of 2023.

Key Points: 
  • Net income was $2.1 million in the first quarter of 2024, compared to $9.8 million in the fourth quarter of 2023 and $12.1 million in the first quarter of 2023.
  • First quarter 2024 financial results were negatively impacted by the Company's previously disclosed deposit-related fraud event, which was the primary driver of noninterest expense variances from the linked and year-ago periods.
  • Net interest margin was 2.78% in the current quarter and the fourth quarter of 2023, and 3.09% in the first quarter of 2023.
  • The effective tax rate was 14.7% for the first quarter of 2024, 34.5% for the fourth quarter of 2023, and 18.7% for the first quarter of 2023.

Red River Bancshares, Inc. Reports First Quarter 2024 Financial Results

Retrieved on: 
Donnerstag, April 25, 2024
HFI, CRA, Total, Small business, Community Bank, FTE, IBERIABANK, SBIC, AFS, Share repurchase, HTM, Small Business Administration, Environment, Federal Open Market Committee, Tax, Bank, Community Reinvestment Act, EPS, Movement, CFA, Community, S&P Global, FOMC, Growth

ALEXANDRIA, La., April 25, 2024 (GLOBE NEWSWIRE) -- Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its unaudited financial results for the first quarter of 2024.

Key Points: 
  • ALEXANDRIA, La., April 25, 2024 (GLOBE NEWSWIRE) -- Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its unaudited financial results for the first quarter of 2024.
  • Net income for the first quarter of 2024 was $8.2 million compared to $8.3 million for the prior quarter.
  • Net interest income for the first quarter of 2024 was $21.4 million compared to $21.3 million for the prior quarter.
  • Net interest margin FTE for the first quarter of 2024 was 2.83% compared to 2.82% for the prior quarter.

National Diversity Coalition Celebrates Record Attendance at Its 21st Annual Economic Development Conference

Retrieved on: 
Mittwoch, April 10, 2024
Business, Finance, Public Policy, Government, Small Business, Banking, Professional Services, Other Philanthropy, Philanthropy, Thought Leadership, DEI (Diversity, Equity and Inclusion), Foundation, Socially Responsible Investing, White House, Federal Government, State, Local, Consumer, The Department, Retail banking, Small business, Umpqua Holdings Corporation, Housing, NDC, Heart, Conference, Supplier diversity, Banc of California, Future, Optimism, Community Reinvestment Act, Economic development, Private sector, Financial literacy, Federal Bank, Community, Social justice, Banq, Knowledge, Q&A

This year's conference not only set a new benchmark in attendance but also underscored the coalition's pivotal role in fostering economic empowerment and diversity within communities.

Key Points: 
  • This year's conference not only set a new benchmark in attendance but also underscored the coalition's pivotal role in fostering economic empowerment and diversity within communities.
  • Under the theme "Unveiling the Future," the National Diversity Coalition, led by founder and CEO Faith Bautista Tamashiro, hosted its 21st Annual Economic Development Conference on April 5, 2024.
  • The conference, known for promoting financial literacy, small business growth, housing, and supplier diversity, witnessed record attendance, demonstrating the community's robust interest and commitment to economic development and diversity.
  • The event was punctuated with high-profile testimonials, underscoring the collective drive toward inclusive economic progress:
    Clint Stein, CEO of Umpqua Bank: “I was honored to represent Umpqua Bank as a speaker at the National Diversity Coalition's 21st Economic Development Conference.

KeyBank Receives 11th Consecutive "Outstanding" Rating from the OCC on Community Reinvestment Act Exam

Retrieved on: 
Mittwoch, April 10, 2024
Corporation, CRA, Investment, Comptroller, Housing, Paycheck Protection Program, Partnership, PPP, Act, KeyBank, Community Reinvestment Act, Community development, Community, Quality of life, OCC, LMI, Bank

CLEVELAND, April 10, 2024 /PRNewswire/ -- KeyBank (NYSE: KEY) has earned its 11th consecutive "Outstanding" rating from the Office of the Comptroller of the Currency (OCC) on its most recent Community Reinvestment Act (CRA) exam. KeyBank has maintained a rating of "Outstanding" from the OCC for 11 consecutive review periods since the Act's passage in 1977.

Key Points: 
  • CLEVELAND, April 10, 2024 /PRNewswire/ -- KeyBank (NYSE: KEY) has earned its 11th consecutive "Outstanding" rating from the Office of the Comptroller of the Currency (OCC) on its most recent Community Reinvestment Act (CRA) exam .
  • KeyBank has maintained a rating of "Outstanding" from the OCC for 11 consecutive review periods since the Act's passage in 1977.
  • "Our long record of 'Outstanding' CRA ratings is a testament to our enduring commitment to being both a responsible bank and responsible citizen.
  • For more information about KeyBank's community investments, visit our corporate responsibility page: https://www.key.com/about/corporate-responsibility/cr-overview.html .

Wolters Kluwer to provide regulatory compliance insights at 2024 CBA LIVE conference

Retrieved on: 
Mittwoch, März 20, 2024
Legal, Technology, Finance, Consulting, Fintech, Accounting, Professional Services, Small Business, Software, Community, FCC, Success, Community Reinvestment Act, Burniston, Risk management, Wolters Kluwer, CRA, Modernization theory, Senior advisor, CBA, SCPC

Wolters Kluwer Compliance Solutions’ Timothy Burniston , Senior Advisor, Regulatory Strategy, and Jason Keller , Director, Advisory Services, will share insights on several key U.S. regulatory banking issues at the 2024 CBA LIVE conference March 25-27 at Gaylord National Harbor in Washington, DC.

Key Points: 
  • Wolters Kluwer Compliance Solutions’ Timothy Burniston , Senior Advisor, Regulatory Strategy, and Jason Keller , Director, Advisory Services, will share insights on several key U.S. regulatory banking issues at the 2024 CBA LIVE conference March 25-27 at Gaylord National Harbor in Washington, DC.
  • “The complexity of changes brought about by a modernized CRA presents banks with significant interpretive and operational challenges they will have to navigate,” said Vikram Savkar , Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions.
  • Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers and securities firms.
  • The business sits within the Wolters Kluwer Financial & Corporate Compliance (FCC) division and helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.

City National Bank Names Adey Tesfaye as Head of Community Reinvestment Act (CRA) Department

Retrieved on: 
Montag, Februar 26, 2024
CRA, California Bank and Trust, Personal, Adey, Economic development, Investment, Community Reinvestment Act, City, Small business, Government, City National Bank, Sterling Bank, Local Initiatives Support Corporation, Organization, Community, HSBC

LOS ANGELES, Feb. 26, 2024 (GLOBE NEWSWIRE) -- City National Bank has named Adey Tesfaye as the new head of its Community Reinvestment Act (CRA) department.

Key Points: 
  • LOS ANGELES, Feb. 26, 2024 (GLOBE NEWSWIRE) -- City National Bank has named Adey Tesfaye as the new head of its Community Reinvestment Act (CRA) department.
  • City National is committed to investing in its communities through its CRA initiatives that include providing loans and investments for affordable housing and economic development.
  • “Adey’s wealth of experience in community reinvestment will help City National make a significant impact through our community development initiatives in areas that need it most,” said David Cameron, executive vice president of Personal & Business Banking, City National Bank.
  • Prior to City National, she worked at Sterling Bank & Trust, where she served as senior vice president and CRA officer.

Truist Charitable Fund names 17 new grant recipients

Retrieved on: 
Mittwoch, Februar 14, 2024
Professional, Education, Growth, Partnership, Success, Private law, Enterprise Community Partners, Consultant, Empowerment, Organization, Capital Good Fund, Workforce, Housing, CNC, LMI, Intellectual, Telephone directory, Small business, Transport, LISC, Truist Financial, Economic development, Community, Pathway, Human, CDFI, Naturally, TFC, VSH, Creativity, Employment, Prisoner, Knowledge, Poverty, Opportunity Center, Community Reinvestment Act, Quality of life, Child care, School, Policy, Center for Community Self-Help, CAP

CHARLOTTE, N.C., Feb. 14, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced the initial recipients of its Truist Community Catalyst Initiative, a three-year Community Reinvestment Act program supporting local efforts with statewide impact. This initiative will support 17 efforts across 13 states, impacting 54 communities, allowing local nonprofit organizations to better respond to critical community needs within their state.

Key Points: 
  • The 2023-25 Truist Community Catalyst Initiative focuses on issues within four key focus areas: affordable housing, small business access to capital, workforce development and essential community services.
  • As each program expands, grant recipients will have the opportunity to reapply for additional funding annually through 2025.
  • Grant funding will expand the nonprofit's Naturally Occurring Affordable Housing Preservation Project and Housing Loan Fund to finance and secure affordable housing units.
  • Capital Good Fund: A CDFI with a mission to create pathways out of poverty and advance a green economy through inclusive financial services.