The Northeast has always been a competitive market for deposit gathering. Loan growth and the potential for rising interests are forcing banks in the region to find new ways to bring in low-cost liquidity.
Shaza Andersen recently sent out a companywide email stating that employees who don't deposit their paychecks into a WashingtonFirst account will soon be required to pick up paper checks from her office.
HomeTrust Bank faced a legal challenge from HomeTown Bank after it entered southwestern Virginia. The now-resolved dispute serves as a reminder that banks must be aware of branding challenges when they enter new markets.