Digital lender SoFi acquiring community bank; M&T's branch empire

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Digital lender SoFi to buy Golden Pacific Bancorp, unit

In a bid to obtain a national bank charter, San Francisco-based digital lender Social Finance Inc. agreed to buy Sacramento, Calif.-based Golden Pacific Bancorp Inc. and its wholly owned subsidiary, Golden Pacific Bank NA, for about $22.3 million in cash, or $2.55 per share.

M&T once again expanding its branch network through M&A

M&T Bank Corp.'s latest multibillion deal would see it expand into some slower-growth markets, but analysts think the regional bank has the experience to successfully capitalize on its acquisition of People's United Financial Inc.

Biden's pick for OCC 'all but ruled out' – Bloomberg

Former Treasury official Michael Barr seems to have lost his chance to be named head of the Office of the Comptroller of the Currency due to opposition from liberal Democrats, Bloomberg News reported March 8, citing people familiar with the matter.

Fraser gets the baton at Citigroup

US leveraged loan break prices hold steady amid new-issue onslaught in February

More highlights

* AerCap Holdings NV has confirmed that discussions are taking place between the company and General Electric Co. with respect to the latter's aircraft-leasing unit, GE Capital Aviation Services Inc.

* NorthEast Community Bancorp Inc. is offering for sale up to $117 million worth of common shares, representing a 59.7% stake in NorthEast Community Bancorp Inc. (MHC) now owned by NorthEast Community Bancorp MHC.

* Malvern, Ark.-based Malvern National Bank's board appointed Brent Black as the bank's president, effective Jan. 1.

Chart of the day

Credit card lending has settled into a pandemic rut as stimulus payments kept delinquencies low while restraining growth, but some green shoots in borrower demand have started to appear. The credit card delinquency rate in the fourth quarter of 2020 remained below levels that prevailed in 2019, but it did tick up 15 basis points from the third quarter of 2020 to 3.39%.

Editor's pick

Investors turn to value stocks as borrowing costs increase for growth giants