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Essential IR Insights Newsletter - February 2023

Friday Express: Index to gauge community bank sentiment; 2 Calif. banks merging

* The Conference of State Bank Supervisors is planning to create an ongoing sentiment index of community bankers based on its annual survey.

* Democratic members of the Senate Banking Committee are calling for another hearing with Wells Fargo Chair Elizabeth Duke and CEO Tim Sloan.

* A federal court judge trimmed a lawsuit accusing several big banks, including JPMorgan and Bank of America, of manipulating the Singapore Interbank Offered Rate and Singapore Swap Offer Rate, reports.

* Banks stand to benefit from rising interest rates and a steepening of the yield curve, former Wells Fargo Chairman and CEO Dick Kovacevich told CNBC.

* Wells Fargo is planning to re-enter the private-label residential mortgage-backed securities market with a proposed sale of $441 million bond tied to U.S. home loans without government backing, sources told Bloomberg News.

* In California, Bank of Commerce Holdings is acquiring Merchants Holding in a cash-and-stock deal valued at $37 million.

* Online loan marketplace operator LendingTree is buying insurance comparison marketplace for $370.2 million.

* Adam White, head of Coinbase's institutional platform group, is leaving the cryptocurrency exchange company, Bloomberg reports.

* Manulife Financial said a short seller's statements that the insurance company could lose billions of dollars if it loses a lawsuit regarding a universal life policy issued in the 1990s are "legally unfounded."

* Shareholders of insurance company Navigators Group are scheduled to vote on Nov. 16 on the company's proposed acquisition by The Hartford Financial.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.