Is Your Bank Ready to Accelerate Payments with the FedNow Service?
By Greg Aumann The Federal Reserve’s FedNow® Service, which launched July 20, 2023, promises to revolutionize money movement by enabling more banks to process instant payments and provide unparalleled convenience to consumers and businesses alike. Unlike traditional payment methods that can take hours or even days to complete, real-time payments process within seconds and allow…
Great Lake Banker MagazineFailure to Exempt Community Banks in Final 1071 Reporting Rule Raises Significant Privacy Concerns
WASHINGTON — The ICBA issued the following statement from President and CEO Rebeca Romero Rainey on the Consumer Financial Protection Bureau’s final rule implementing data collection and reporting requirements for small-business loans. “ICBA and the nation’s community banks are deeply frustrated that the CFPB has finalized a rule that will require community banks to burden millions of their…
Pathfinder Bancorp Declares Dividend
OSWEGO, N.Y., — Pathfinder Bancorp, Inc., the bank holding company of Pathfinder Bank, has declared a cash dividend of $0.09 per share on the Company’s voting common and non-voting common stock, and a cash dividend of $0.09 per notional share for the issued warrant relating to the fiscal quarter ending December 31, 2022, according to…
Norwood Financial Announces Dividend
HONESDALE, Pa., — The Board of Directors of Norwood Financial Corp, and its subsidiary Wayne Bank, has declared a $0.29 per share quarterly dividend, payable February 1, 2023, to shareholders of record as of January 13, 2023, according to James O. Donnelly, President and Chief Executive Officer. The $0.29 per share represents an increase of…
AgriBank Pays Quarterly Preferred Stock Dividend
ST. PAUL, Minn., — St. Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of Dec. 1, 2022.
CNB Community Bancorp Declares Dividend
HILLSDALE, Mich., — The Board of Directors of CNB Community Bancorp, Inc. has declared a quarterly cash dividend on the Company’s common stock in the amount of $0.29 per share, an increase of $0.02 from the dividend paid for Q4 2021. Additionally, the Board of Directors declared an additional special dividend of $0.20 per share….
Huntington Bancshares Declares Dividend
COLUMBUS, Ohio, — The Board of Directors of Huntington Bancshares Incorporated has declared and set aside a quarterly cash dividend on the company’s 5.70% Series I Non-Cumulative Perpetual Preferred Stock of $356.25 per share (equivalent to $0.35625 per depositary share) payable March 1, 2023, to shareholders of record on February 15, 2023.
Prime Rate Increases
CHICAGO, — BMO Financial Group, KeyCorp, Associated Banc-Corp, Huntington Bank, and M&T Ban each increased its US$ prime lending rate from 7.00 percent to 7.50 percent, effective on or about December 15, 2022.
Isabella 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…
- 1
- 2