The average top tier 30yr fixed rate was unchanged on Friday despite the bond market being slightly weaker. Normally, weaker bonds mean higher rates, but the timing of intraday market movement matters. In today’s case, bonds are still much stronger than the first half of yesterday, and only weaker when compared to closing levels. Because […]

In this week’s banking news roundup: Flagstar’s shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more.

Cornerstone Capital Bancorp, a one-time independent mortgage banker that acquired a depository, has agreed to purchase another bank, Peoples Bancorp of Lubbock, Texas. Terms of the transaction were not disclosed. “With one of the strongest capital positions in our markets and a deep base of low-cost core funding, we are well positioned for meaningful organic