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7 ways community banks can boost profitability

Independent Banker

of digital banking customers said they switched to digital banking because of the pandemic. Source: 2021 Provident Bank survey. These days, there’s a lot to contend with as a community bank, from changing consumer behaviors due to the pandemic to uncertainty surrounding the economy and inflation. Quick stat.

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When a bank fails after engaging in redlining, who's responsible?

American Banker

Republic First Bank allegedly discriminated against minority borrowers before it went under in April. New Jersey officials want both the acquirer of its remains, Fulton Bank, and the FDIC to assume some responsibility.

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Bancorp of New Jersey Hires Former State Regulator as Chief

American Banker

Bancorp of New Jersey in Fort Lee has hired a former state regulator as its new chief executive.

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New Jersey banks extend deadline to close their $1.3 billion merger

American Banker

Provident Financial in Iselin initially anticipated completing its deal for Oak Ridge-based Lakeland Bancorp in the second quarter. Now as it waits for regulatory approval, Provident says the process will stretch into spring 2024.

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Three Small US Banks Collapse Over Past Month

PYMNTS

recorded its fourth bank failure this year — the first collapse of financial institutions since 2017, according to data from the Federal Deposit Insurance Corp ( FDIC ). 1 when City National Bank of New Jersey closed its three branches with assets of about $120.6 As of June 30, Louisa Community Bank had approximately $29.7

Kentucky 140
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Teflon Tim: You Can't Mess With Wells Fargo

Jeff For Banks

March 2017 - Failed the OCC's community lending test causing "significant harm to customers." February 2018 - Regulators limit WF growth due to "widespread consumer abuses and compliance breakdowns." The spate of bad news led to Wells launching a nationwide ad campaign to repair its image. Some of whom were deployed overseas.

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Will "Plain Vanilla" Kill Community Banking?

Jeff For Banks

I was at a strategic planning retreat a few weeks back where a colleague lauded the concept of bankers getting back to plain vanilla community banking. A similar argument could be made for the former Commerce Bank of Cherry Hill, New Jersey. I hear and read this often.