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First Citizens, CIT Group Merger Will Create $100B Bank

PYMNTS

“This is a transformational partnership for First Citizens and CIT, designed to create long-term value for all of our constituents, including our stockholders, our customers, our associates and our communities,” said Frank Holding Jr. chairman and CEO of First Citizens, roles he will keep in the combined company. .

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7 ways community banks can boost profitability

Independent Banker

Here’s what community bankers need to know when planning their budgets for the next year. 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. By Cheryl Winokur Munk. Quick stat. Source: 2021 Provident Bank survey.

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Community Banks Voice Frustration With Core Tech Providers

PYMNTS

Community banks are voicing their frustration with what they say is a lack of competition in the market for corporate bank technology providers, reports in The Wall Street Journal said Thursday (April 11). Community banks say their services are often too expensive and can sometimes be delayed.

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Fundation Pulls Community Bank Into FinTech Collaboration

PYMNTS

Large financial institutions (FIs) are increasingly turning to FinTech firms and alternative lenders to augment their small business (SMB) offerings, but community banks are beginning to get on board with the partnership strategy , too. They’re very disciplined on credit and interest rate risk,” he said.

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Mall Now A Four-Letter Word For Some Operators?

PYMNTS

The Wall Street Journal reports that the “four-letter” word has been getting the boot from … mall operators. That would include the Mall at Short Hills, where, for example, Bill Taubman, COO of the New Jersey mall’s owner, Taubman Centers, said making a name change would “undo years of brand recognition and value for little return.”.

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Linkbancorp selling New Jersey operations to credit union

American Banker

American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.

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Grocery Roundup: New Amazon Fresh Store, SpartanNash Puts Incentives In ‘Fast Lane,' Walmart On Autonomous Delivery

PYMNTS

Here are the latest developments in new store concepts, ordering and delivery from various big names in the sector: Amazon To Open Amazon Fresh Store In New Jersey. Amazon is growing its brick-and-mortar footprint for Amazon Fresh with a New Jersey outpost for the concept.