Community Banking

Wells Fargo donated $185 million, Bank of America pledged $110 million, and more than 30 others have committed to supporting communities affected by the pandemic

Its full time employees would receive extra compensation of $600 if they make less than $100,000 a year

Bank of America, Truist, Webster, Associated Bank and Mutual of Omaha are among those pledging to charities and community support funds

National and community banks are taking measures to ease the financial difficulties posed by lockdowns and closures

MutualFirst’s merger with Northwest Bank has also taken a step closer with investor approval granted last week

Tornadoes killed 25 people in Tennessee last week and caused huge amounts of damage, prompting community banks to step in

The bank is closing 37 branches and investing in a ‘tailored, personal and accessible’ service for clients

Also, Regions Bank has announced the planned acquisition of equipment finance lender Ascentium Capital

The bank’s $3 billion fine was accompanied by penalties totaling $21 million for three former executives for their roles in the scandal that ran for 15 years

Ericson State Bank has been taken over by Farmers and Merchants Bank after a regulatory investigation uncovered a series of lending violations