Bank

Axos Bank’s Essential Checking Named “Best Checking Account for College Students”

Monday, October 26, 2020 - 11:05am

In its first-ever ranking of Americas Best Banks, Newsweek named digital banking leader Axos Banks Essential Checking account the Best Checking Account for College Students citing the accounts low to no fees and unlimited domestic ATM charge reimbursements.

Key Points: 
  • In its first-ever ranking of Americas Best Banks, Newsweek named digital banking leader Axos Banks Essential Checking account the Best Checking Account for College Students citing the accounts low to no fees and unlimited domestic ATM charge reimbursements.
  • College students need features that suit their age and lifestyle: no or low ATM charges because they may use out-of-network machines; low fees if they trip up and overdraw the account; low minimums to open an account and to avoid monthly charges, the magazine said in its Essential Checking write-up.
  • In addition to having no monthly maintenance fees, Essential Checking offers no overdraft or non-sufficient funds fees.
  • And customers can also access their paychecks up to two days early with Direct Deposit Express a standard feature thats built into Essential Checking accounts.

US Community Banks Near Inflection Point--Consolidation to Accelerate During Recovery

Friday, October 23, 2020 - 1:00pm

FJ Capitalbelieves the number of banks will decline by more than 50% over the next 10 to 15 years.

Key Points: 
  • FJ Capitalbelieves the number of banks will decline by more than 50% over the next 10 to 15 years.
  • "We are encouraged by the recent uptick in M&A activity," says FJ Capital Founder and Portfolio Manager, Martin Friedman.
  • "Based on our analysis, we believe we've hit a turning point in the credit cycle and are reaching a positive inflection point in community and regional banks."
  • FJ Capital Management is an investment management firm that analyzes and invests in community and regional banks through alternative strategies.

Heritage Commerce Corp Declares Regular Quarterly Cash Dividend of $0.13 Per Share

Thursday, October 22, 2020 - 10:55pm

SAN JOSE, Calif., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company for Heritage Bank of Commerce, today announced that its Board of Directors declared its regular quarterly cash dividend of $0.13 per share to holders of common stock.

Key Points: 
  • SAN JOSE, Calif., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company for Heritage Bank of Commerce, today announced that its Board of Directors declared its regular quarterly cash dividend of $0.13 per share to holders of common stock.
  • The dividend will be payable on November 20, 2020, to shareholders of record at close of business day on November 6, 2020.
  • Heritage Bank of Commerce is an SBA Preferred Lender.
  • Bay View Funding, a subsidiary of Heritage Bank of Commerce, is based in San Jose, CA and provides business-essential working capital factoring financing to various industries throughout the United States.

Woodforest National Bank Continues Branch Expansion In North Carolina

Thursday, October 22, 2020 - 7:44pm

THE WOODLANDS, Texas, Oct. 22, 2020 /PRNewswire/ -- Woodforest National Bank ("Woodforest") is excited to announce its continued commitment in North Carolina by building a new location which opened on October 16th at 2500 Forest Hills Rd.

Key Points: 
  • THE WOODLANDS, Texas, Oct. 22, 2020 /PRNewswire/ -- Woodforest National Bank ("Woodforest") is excited to announce its continued commitment in North Carolina by building a new location which opened on October 16th at 2500 Forest Hills Rd.
  • Celebrating 40 years of community banking service, Woodforest National Bank has successfully stood among the strongest community banks in the nation, proudly offering outstanding customer service since 1980.
  • Woodforest currently operates over 750 branches in 17 states across the United States and is an Outstanding CRA rated institution.
  • For more information about Woodforest National Bank, please visit www.woodforest.com
    View original content to download multimedia: http://www.prnewswire.com/news-releases/woodforest-national-bank-continu...

Biz2Credit Unveils Rebranding, New Logo for Its Biz2X Lending Platform for Banks

Thursday, October 22, 2020 - 4:33pm

Biz2X has been adopted by partners including HSBC , Popular Bank , ACAP and AICPAs CPA.com , which all have chosen Biz2X to launch new online lending initiatives.

Key Points: 
  • Biz2X has been adopted by partners including HSBC , Popular Bank , ACAP and AICPAs CPA.com , which all have chosen Biz2X to launch new online lending initiatives.
  • No one is integrating banks and digital platforms as effectively as Biz2Credits Biz2X Platform has done, Arora added.
  • "Biz2X is built on the same technology that has helped Biz2Credit become the premier digital lending platform for small businesses.
  • The company offers the Biz2X Platform to banks and other financial institutions to allow them to better manage loan processes and related risks.

Focus on the future of banking supervision in a changing world - International banking supervisory community meet virtually

Thursday, October 22, 2020 - 4:05pm

Delegates discussed a wide range of issues related to the future of banking supervision in a changing world.

Key Points: 
  • Delegates discussed a wide range of issues related to the future of banking supervision in a changing world.
  • The discussions covered the digitalization of finance and the evolution of banking models, operational resilience, climate-related financial risks and remote working arrangements.
  • The conference promotes the discussion of key supervisory issues and fosters the continuing cooperation in the oversight of international banking.
  • The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters.

ROTH Capital Partners Announces the Addition of Hershel Gerson, Managing Director, Co-Head of Consumer Investment Banking

Thursday, October 22, 2020 - 2:00pm

ROTH Capital Partners (ROTH), www.roth.com , a full service investment bank focused on serving emerging growth companies and their investors, today announced that Hershel Gerson has joined the firm as Managing Director and Co-Head of Consumer Investment Banking.

Key Points: 
  • ROTH Capital Partners (ROTH), www.roth.com , a full service investment bank focused on serving emerging growth companies and their investors, today announced that Hershel Gerson has joined the firm as Managing Director and Co-Head of Consumer Investment Banking.
  • Hershel is an experienced consumer banker with over 20 years of deal experience, closing over 55 transactions worth over $30 billion.
  • Mr. Gerson will be joined by an exceptional team who previously worked with him at ELLO Capital, including Danny Hurwitz (Managing Director Investment Banking), JB Mitchell (Vice President Investment Banking), and Evan Zaransky (Analyst Investment Banking).
  • ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving growth companies and their investors.

FICO Survey Reveals That Financial Services Firms Are Severely Lagging in Online Consumer Services

Thursday, October 22, 2020 - 1:00pm

"However, when they look to their financial institutions to provide comparable user experiences for their banking needs, most banks are falling far short."

Key Points: 
  • "However, when they look to their financial institutions to provide comparable user experiences for their banking needs, most banks are falling far short."
  • The survey shows that the majority of financial services firms are struggling with digital transformation and in providing customers with the types of personalized on-line experiences they receive elsewhere.
  • However, the survey shows that most financial services firms are struggling to deliver the personalized, digital experiences consumers expect and would be required to to keep them for life," saidNikhil Behl, chief marketing officer at FICO.
  • They have leading brands in financial services includingAmerican Banker,The Bond Buyer,PaymentsSource,Financial Planning, andNational Mortgage News, and in professional services, such asAccounting Today,Employee Benefits News, andDigital Insurance.

Woodforest National Bank Opens New Branch in Columbus, Ohio

Wednesday, October 21, 2020 - 9:45pm

This new branch offers a full range of banking services for consumer and business customers, including a depository ATM available when the Walmart store is open.

Key Points: 
  • This new branch offers a full range of banking services for consumer and business customers, including a depository ATM available when the Walmart store is open.
  • "We are committed to investing in our communities and thrilled to open our new branch in Columbus, which marks Woodforest's 76th location in Ohio," said Julie V. Mayrant, President, Retail Division, Woodforest National Bank.
  • Celebrating 40 years of community banking service, Woodforest National Bank has successfully stood among the strongest community banks in the nation, proudly offering outstanding customer service since 1980.
  • For more information about Woodforest National Bank, please visit www.woodforest.com
    View original content to download multimedia: http://www.prnewswire.com/news-releases/woodforest-national-bank-opens-n...

Foresight Research: Expect a Spike in Consumers Switching Banking Providers Due to the Pandemic

Wednesday, October 21, 2020 - 7:35pm

Then a second survey was conducted during the pandemic of almost 700 customers and members to find out what the pandemic had changed in the banking industry.

Key Points: 
  • Then a second survey was conducted during the pandemic of almost 700 customers and members to find out what the pandemic had changed in the banking industry.
  • Churn increased from 12% (over two years) prior to the pandemic to 22% expected churn in the next year or two.
  • A lot of banking consumers will be in play like in the tens of millions.
  • Bank customer and credit union member expectations and satisfaction and what specific products are purchased.