Organizers start raising capital for proposed Utah bank

BankThink

Community banking De novo institutions Capital UtahThe group behind Bank of St. George is looking to bring in up to $22 million in initial capital.

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Utah bank taps board member as next CEO

BankThink

Community banking Career moves Commercial banking Succession planning UtahMichael Ward, a former CEO at Mrs. Fields Famous Brands, has been a Prime Alliance director for 14 years.

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Utah Becomes the Third State to Establish a Fintech Sandbox

CCG Insights

Utah has joined Arizona and Wyoming in establishing a fintech sandbox, a tool for financial innovators to create new products while being partially shielded from regulatory issues. Banker in the Know CCG Catalyst Arizona Compliance fintech regtech Regulations sandbox Utah Wyoming

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Glacier bulking up in Utah with latest bank acquisition

BankThink

The Montana company will more than double its assets in Utah when it buys FNB Bancorp. Community banking M&A Capital Growth strategies Utah Montana

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Utah’s new regulatory sandbox

CFPB Monitor

Utah Governor Gary Herbert signed H.B. The sponsor of Utah’s legislation, Rep. ” Utah’s regulatory sandbox, which is effective as of May 13, is similar in many respects to Arizona’s sandbox, which began accepting applications in August 2018 and now has six participants.

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De novo group aims to open first Utah bank in decade-plus

BankThink

Community banking De novo institutions Capital UtahOrganizers of the Bank of St. George have filed an application with the FDIC and state regulators and plan a public stock offering.

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Proficio Bank becomes first Utah failure in six years

BankThink

Cache Valley Bank in Utah agreed to buy Proficio's deposits and most of its assets. M&A Failures Strategic plans Utah

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People's Utah gets early start on CFO succession

BankThink

People's Utah Bancorp in American Fork has its next chief financial officer waiting in the wings a year in advance. Community banking Career moves Utah California

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This week’s podcast: A close look at Utah’s new regulatory sandbox program

CFPB Monitor

Utah is now taking applications for its new regulatory sandbox program. Marc Roberts, the sponsor of the bill that created the program, and Bryan Cowley, the Utah regulator who will oversee the program’s administration. FinTech State CFS Monitor sandbox utahIn this podcast, we interview Rep.

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People's Utah Gets Early Start on CFO Succession

American Banker

People's Utah Bancorp in American Fork has its next chief financial officer waiting in the wings a year in advance. breaking_news people ca ut community-banking

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Banking Strategies: Should We Look to Utah?

Jeff For Banks

Just this month I taught Bank Profitability at the Utah Bankers'' Association Executive Development Program. Utah, home of the Industrial Bank, is the epicenter of niche banking. And yes, why can''t we learn from the 31 active Industrial Banks from Utah?

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Morning Scan: SoFi Mulls Utah Bank Charter

American Banker

The company has reportedly been in discussions with Utah… morning-scan national-regionalReceiving Wide Coverage. Future of banking: In fintech, as in life, it all comes full circle. While banks are rushing to disrupt themselves through new offerings and partnerships with Silicon Valley, the startups are beginning to look more like banks.

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Former Utah banking chief joins board of Glacier

BankThink

George Sutton, now an attorney in Salt Lake City, will sit on several Glacier Bancorp committees, including audit and compliance. Corporate governance Community banking M&A Audit standards Compliance

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Another state creates tech sandbox as federal agencies tread warily

BankThink

Utah this week became the third state to let companies test cutting-edge financial products without fear of violating licensing and other regulations. Fintech regulations CFPB OCC Utah Arizona Wyoming

LendingPoint, seeking to expand nationwide, teams with Utah bank

BankThink

The Kennesaw, Ga.-based based firm, which makes online installment loans to borrowers with blemished credit records, currently operates in 14 states. Marketplace lending Consumer lending Subprime lending Digital banking

Utah 48

Business model trumped money in FNB-Glacier deal

BankThink

FNB Bancorp in Utah, which is being sold to Glacier Bancorp, decided that the Montana bank's decentralized model would save jobs and give its management team more autonomy. Community banking M&A Growth strategies Montana Utah

Another state creates tech sandbox as federal agencies tread warily

Payments Source

Utah this week became the third state to let companies test cutting-edge financial products without fear of violating licensing and other regulations. Fintech regulations CFPB OCC Utah Arizona Wyoming

Here’s How Many People Will Work at SoFi Bank

Bank Innovation

Capital Exclusive Operations Risk Startups assets bank charter Bank of America Social Finance SoFi Sofi Bank Utah bank charterIt’s not everyday that a fintech applies for a bank charter, so when SoFi did just that it caught our eye. But will this be a big bank? The short answer is no, or not at least for a few years. Buried in SoFi’s application are details on the proposed bank’s staffing size. The bank […].

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Zions' results reflect growing comfort with oil exposure

BankThink

The Utah company reduced the size of its loan-loss allowance, citing improvement in its energy book at minimal losses from Hurricane Harvey. Earnings Regional banks Non-interest income Credit quality Utah

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Nelnet withdraws application for industrial loan charter

BankThink

ILCs De novo banks Fintech regulations UtahThe student loan servicer called the move a "temporary step back" in what it had expected to be a lengthy process.

Longtime Zions executive LeeAnne Linderman to retire

BankThink

LeeAnne Linderman, who oversees retail banking for Zions, was the first female chair of the Utah Bankers Association and has mentored and advocated for women in the industry. Women in Banking Regional banks Succession planning LeeAnne Linderman Zions Bancorp Utah

ralph lauren online shop do look ‘s show up o utah

Gonzobanker

Pick up divas ralph lauren online shop do look ‘s show up o utah.

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Zions meets efficiency goal even though 4Q profit fell

BankThink

Earnings Regional banks Revenue and expenses UtahThe Salt Lake City company reported an efficiency ratio of 61.6% despite charges and costs tied to recently passed tax reform.

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Revamping deposit products at Zions required convincing employees first

BankThink

Women in Banking Deposits Core conversions Zions Bancorp UtahZions is streamlining its 500 deposit products as part of a massive core conversion, and its female executives are leading the effort.

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Fintech out to start national bank clears one hurdle but faces more

BankThink

Digital banking De novo banks Fintech regulations UtahVaro Money just received conditional approval from the OCC. Now it has to raise capital, create a CRA plan and get a go-ahead from the FDIC.

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Solid 3Q lending growth at Zions

BankThink

Commercial lending Consumer lending Earnings Zions Bancorp UtahThe Salt Lake City bank said consumer loans rose 7% from a year earlier. That was one of its several quarterly highlights.

Student loan servicing giant seeks industrial bank charter

BankThink

ILCs Community banks De novo banks ICBA FDIC UtahNelnet’s planned bank would be an online enterprise focused on gathering deposits and making private student loans.

Bad for business? Weighing shutdown’s impact on commercial loans

BankThink

Government shutdown Credit quality Commercial lending Commercial real estate lending Small business lending Community banking Maryland Utah Virginia Washington DCCredit union and bank executives say the federal work stoppage hasn’t hit business lines yet, but that could change if things drag on much longer.

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Wintrust in Ill. to buy consumer direct mortgage lender

BankThink

Community banking Regional banks M&A Mortgages Mortgage applications Illinois UtahThe company has agreed to buy the operations of Veterans Mortgage in Salt Lake City.

Varo Money's bank charter application gets conditional OCC approval

BankThink

Fintech De novo banks Fintech regulations Community banking OCC FDIC Federal Reserve UtahThe OCC required the company to raise more capital and complete a CRA plan. Varo Bank still needs FDIC and Fed approval before opening.

Square’s ILC bid may open floodgates for fintechs

BankThink

Fintech regulations ILCs Fintech Law and regulation Square SoFi Varo Money OCC FDIC State of UtahSquare became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

ICBA calls for a new FDIC moratorium on industrial loan charter applications

BankThink

ILCs Fintech Licenses and charters Community banking FDIC ICBA Washington DC UtahThe industry group wants the FDIC to reject an ILC request from student lender Nelnet and impose a two-year ban on future applications.

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12 markets hit hardest by slashing the mortgage interest deduction

BankThink

Mortgage interest deduction Tax reform Purchase Refinance Housing market Policymaking Home prices Purchasing power California Hawaii Nevada Virginia Maryland Washington Washington DC Connecticut Louisiana UtahHere's a look at the 12 housing markets with the largest percentages of mortgages over $500,000 — the new threshold House Republicans have proposed for the mortgage interest deduction in their tax plan.

VBlog: Three Ways to Remain Close to Customer Using the Bank Division Approach

Jeff For Banks

bank charters bank divisions EDP Fulton Bank glacier bank mercantile bank Oregon Bankers Association Susquehanna Bank Utah Bankers Association Washington Bankers Association zions bank

Square’s ILC bid may open floodgates for fintechs

Payments Source

Fintech regulations ILCs Fintech Law and regulation Square SoFi Varo Money OCC FDIC State of UtahSquare became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

Bankers Tell Me Their Top Industry Game Changers

Jeff For Banks

I teach Bank Profitability for the Washington, Utah, and Montana Bankers'' Associations EDP programs. If you were asked what one industry trend will change the face of banking forever, what would you say?

Bankers Tell Me Their Top Industry Game Changers

Jeff For Banks

This week I did my annual tour of the West, teaching Bank Profitability in the Executive Development Program for the Washington, Oregon, and Utah Bankers'' Associations. Special thanks to the talented bankers in Washington, Oregon, and Utah.

Could You Live Your Life on Bitcoin? [Video]

Bank Innovation

That’s more of a challenge, according to this Utah County couple who tried paying for life’s necessities only in bitcoin. Investing in bitcoin is easy. Buying a tank of gas with bitcoin…uh.

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Lendio to market loan platform to Comcast's small-business clients

BankThink

The Utah company has similar arrangements with Staples, GoDaddy and LegalZoom. Marketplace lending Small business lending Fintech Digital banking

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SoFi’s Bank Charter Has Almost No Chance, Former SEC Chairman Says

Bank Innovation

The charter, submitted to the State of Utah last June, would give the online lender the ability to collect deposits insured by the […].

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Japanese FinTech Rakuten Applying For US Banking Charter 

PYMNTS

FDIC) and the state of Utah for an industrial loan company (ILC) charter. The bank would be headquartered in Utah and could handle users’ deposits, according to Lee Carter, Rakuten head of banking and potential ILC CEO.

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Finicity Announces New ACH Account Verification API

Let's Talk Payments

New offering for payment and funding apps provides industry’s broadest direct ACH account verification service in North America MURRAY, Utah — September 20, 2016 — Finicity, winner of the Finance. API Banking Fintech News Payments news US

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Data: Pot payments on the rise

Payments Source

Now that states such as Michigan, Utah and Missouri voted in favor of legalization in this year's midterms, legal marijuana is poised to become a growth industry. Marijuana banking Compliance Network rules Mobile payments