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First Federal reorganizes, Regions wins presidential award

American Banker

First Federal Bank of Kansas City finalized a plan to reorganize its corporate structure; Regions Bank in Birmingham, Alabama, was one of 10 to win the "President's 'E' Award for Export Service"; Rhode Island-based Citizens Financial Group named Jim Weiss as Florida market president; and more in this week's banking news roundup.

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UMB Financial starts checking items off to-do list for Heartland deal

American Banker

The Kansas City, Missouri-based regional bank said it is making progress on its pending purchase of Heartland Financial USA in Denver. The deal is expected to close during the first quarter of 2025.

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Regions Bank to shutter three mortgage-only branches

American Banker

Offices impacted are located in Chicago, Cincinnati and Kansas City, a company representative said Wednesday.

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Fed Looks To Small Banks To Bail Out SMBs

PYMNTS

The Federal Reserve is looking toward a time-worn source to help with bailing out many smaller businesses and individuals as they enlist smaller regional and local banks for the job. One such bank is New Jersey-based OceansFirst, with its 118-year-old history and assets numbering $10.2 billion in the small town of Toms River.

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Small banks: Big challenges and big opportunities

Abrigo

The local decision-making and strong relationships with customers that are hallmarks of small community banks provide leaders with fresh chances to positively affect their towns, cities, and regions while growing a healthy institution. Balance runoff is picking up speed, according to financial consulting firm Curinos.

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FOMC’s Annual Rotation Portends More Hawkishness

TrustBank

The FOMC is composed of 12 members — the seven-member Board of Governors and five members drawn from the 12 regional Reserve Bank presidents. The other four voting positions are typically filled each year on a rotating basis from the remaining presidents of the other regional Reserve Banks. We had no idea how right we would be.

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Regional Fed Presidents to Testify Before House Panel Next Week

American Banker

Kansas City Federal Reserve Board President Esther George and Richmond Fed President Jeffrey Lacker will testify before a House panel on Wednesday.