Alex Graf

Mar 14, 2024 | spglobal.com | Alex Graf

Check fraud scheme at Five Star Bank highlights growing vulnerability for banks An alleged check-kiting scheme targeting Warsaw, NY-based Five Star Bank earlier this month is the latest sign of rising check fraud in the bank industry. According to data from the Financial Crimes Enforcement Network, there were 528,864 suspicious activity reports (SARs) for check fraud at depository institutions in 2023, more than double the 249,812 check fraud SARs in 2021.

Dec 21, 2023 | spglobal.com | Alex Graf

Long-term value 'transcended' potential risks in Orrstown-Codorus Valley MOE In the face of economic uncertainty, normalizing bank industry credit quality and a lack of M&A activity, a merger of equals was the most attractive opportunity for Orrstown Financial Services Inc. and Codorus Valley Bancorp Inc.

Dec 5, 2023 | spglobal.com | Alex Graf

Equity Bancshares Inc. is bolstering its growth with a bank merger and securities book repositioning. The Wichita, Kan.-based company announced its acquisition of Kirksville, Mo.-based Rockhold Bancorp., the parent company of Bank of Kirksville, and a securities book repositioning on Dec.

Nov 13, 2023 | spglobal.com | Alex Graf

Some US banks face credit fallout from trucking industry slump A trucking industry slump caused credit quality deterioration at several US banks during the third quarter and the failure of another this month. Concerns around credit quality normalization and deterioration have largely centered around commercial real estate, specifically office, but another sector is coming under increased pressure: trucking.

Oct 19, 2023 | spglobal.com | Alex Graf

Regions Financial Corp.'s stock plunged after the company reported ongoing losses due to fraud during the third quarter. The Birmingham, Ala.-based company's third-quarter results included $53 million in losses related to a check fraud scheme that began in the second quarter, but the company was unaware of, President and CEO John Turner Jr. said during the company's earnings call. The loss follows an $82 million loss in the second quarter from another unrelated check fraud scheme.