April 25, 2025
| Today’s news and insights for banking industry leaders
The transaction, set to close in the fourth quarter, would add 30 locations and $5.7 billion in assets to Eastern. The Boston bank has tended to expand through acquisition every two years.
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The bank reported another quarterly loss, although executives are targeting profitability in the fourth quarter. “We’re going to look like a completely different company when we end the year,” CEO Joseph Otting said.
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E. William Parsley’s departure thins the ranks of executives beneath CEO Bill Demchak but may clarify new President Mark Wiedman’s position as a potential successor.
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The guidance withdrawals “ensure the Board's expectations remain aligned with evolving risks and further support innovation in the banking system,” the Federal Reserve said Thursday.
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Four senators argued DOGE’s presence could threaten the $137 billion Deposit Insurance Fund, potentially undermining the FDIC's ability to oversee orderly bank resolutions.
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Regulatory willingness to work with crypto seems to have inspired Coinbase, and reportedly others, to engrain themselves deeper into the traditional financial sector.
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