Prime Rate Increases
CHICAGO, — BMO Financial Group, KeyCorp, Associated Banc-Corp, Huntington Bank, and M&T Ban each increased its US$ prime lending rate from 7.00 percent to 7.50 percent, effective on or about December 15, 2022.
Great Lake Banker MagazineIsabella Bank Increases Q4 Dividend
MT. PLEASANT, Mich., — The Board of Directors of Isabella Bank Corporation has declared a fourth-quarter cash dividend of $0.28 per common share at its regular meeting on November 30, 2022. The $0.28 dividend represents a $0.01 or 3.7% increase from the third quarter dividend and brings year-to-date dividends to $1.09. The dividend became payable December 16, 2022, to shareholders of record as of December 14,…
Bank of America Commits $13 Million to Improve Economic Opportunity and Advance Racial Equity
Grants include funding for health, jobs, small business, community development CHICAGO, — Bank of America has committed $13 million in funding to more than 100 Chicago-area nonprofit organizations working to drive economic opportunity for individuals and families in underserved Chicagoland communities. This year, Bank of America partnered with nonprofits that are addressing key factors that contribute to economic…
Farmers National Banc Corp. Completes Merger with Emclaire Financial Corp, Adds New Board Member
CANFIELD, Ohio — Farmers National Banc Corp., the holding company for The Farmers National Bank of Canfield, has completed the merger of Emclaire Financial Corp., the holding company for The Farmers National Bank of Emlenton with and into FMNB Merger Subsidiary V, LLC, a newly-formed wholly-owned subsidiary of Farmers. Following the Merger, Emlenton Bank was…
M&T Bank’s Wilmington Trust Agrees to Sell CIT Business to Madison Dearborn Partners
Transaction creates a strong foundation to support CIT’s continued growth and expanded services and offerings CHICAGO and WILMINGTON, Del., — Wilmington Trust, N.A., a l wealth management and corporate and institutional services provider and a wholly-owned subsidiary of M&T Bank Corporation has announced an agreement with Madison Dearborn Partners, a private equity firm based in Chicago, under which funds affiliated…
Comerica Bank’s Michigan Index Declined Through September
DALLAS, — The Comerica Michigan Economic Activity Index fell at a 3.9% annualized pace in the three months through September. Seven of the Index’s nine components were down over the period. The Index was up a solid 3.7% from the same month of last year, but that reflects a comparison against a soft patch in the fall of…
CFPB Updates TILA Thresholds
WASHINGTON, — The Consumer Financial Protection Bureau issued a final rule amending the official interpretations for Regulation Z, which implements the Truth in Lending Act, to update the dollar amounts of various thresholds that it must adjust annually. Details: Under the final rule: The threshold that triggers requirements to disclose minimum interest charges will remain unchanged at $1….
Lancaster County Banker Appointed to National Council for Community Bank Leaders
BIRD-IN-HAND, Pa. — The American Bankers Association has selected Lori A. Maley, CPA, President, CEO and Vice Chairman of Bank of Bird-in-Hand, to serve on ABA’s Community Bankers Council. Ms. Maley attended the ABA Community Bankers Council meeting in Washington, November 14-16. Bankers had discussions on the impacts of mid-term elections results, legislative priorities for…