Banking News

NEW YORK--(BUSINESS WIRE)--BitGo Holdings, Inc. (“BitGo”), the digital asset infrastructure company, today announced that the Office of the Comptroller of the Currency (“OCC”) approved its application to convert BitGo Trust Company, Inc., a South Dakota-chartered trust company, to a national bank named BitGo Bank & Trust, National Association (N.A.). With today’s OCC approval of its conversion, BitGo’s Trust Company subsidiary is now operating as BitGo Bank & Trust, National Association...

NEW YORK--(BUSINESS WIRE)--Mason Capital Management LLC (“Mason”), a significant, long-standing investor in Ascent Resources, LLC (“Ascent” or the “Company”), today announced that it has sent a letter to the Board of Managers of Ascent (the “Board”) regarding what it believes is a fundamentally flawed sale process, pursuant to which the Company’s controlling sponsor, The Energy & Minerals Group LP (“EMG”) intends to transfer its interests in Ascent into a newly formed continuation vehicle a...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb+” (Good) from “a-” (Excellent) of EMC National Life Company (EMCNL) (Des Moines, IA). Concurrently, AM Best has placed these Credit Ratings (ratings) under review with developing implications. The ratings reflect EMCNL’s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, li...

SAN FRANCISCO--(BUSINESS WIRE)--The Office of the Comptroller of the Currency (OCC) today announced that Ripple, the leader in enterprise blockchain and crypto solutions, received conditional approval for its application to establish Ripple National Trust Bank (RNTB), a federally supervised trust bank. This OCC approval comes after the passage of the GENIUS Act, which President Trump signed in July 2025 to establish clear rules of the road for U.S. stablecoins. Today's announcement from the OCC...

NEW YORK--(BUSINESS WIRE)--Circle Internet Group, Inc. (NYSE: CRCL), one of the world’s leading internet financial platform companies, today announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, First National Digital Currency Bank, N.A. Once fully approved, First National Digital Currency Bank would operate as a federally regulated trust bank, subject to OCC oversight, and would oversee the management of...

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of the core Blue Cross Blue Shield (BCBS)-branded insurance subsidiaries of Elevance Health, Inc. (Elevance) (Indianapolis, IN) [NYSE: ELV], as well as most of its non-Blue-branded subsidiaries. In addition, AM Best has upgraded the FSR to A (Excellent) from A- (Excellent) and the Long-Term ICR to “a+” (Excellent)...

CHICAGO--(BUSINESS WIRE)--D.A. Davidson & Co. announced today that it served as exclusive financial advisor to Alamo Group Inc. (“Alamo”) on its purchase of Petersen Industries, Inc. (“Petersen”). Alamo is a leading global manufacturer of high-quality industrial and vegetation management equipment. Petersen is an innovative manufacturer of truck-mounted grapple loader equipment. Petersen provides high-quality grapple truck loaders to governmental end-customers for the handling of bulky wast...

LONDON--(BUSINESS WIRE)--AM Best has revised the implications of the under review status to negative from developing for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of First Insurance Company (SFIC) (Jordan). The Credit Ratings (ratings) reflect SFIC’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings...

MINNEAPOLIS--(BUSINESS WIRE)--Wolters Kluwer Tax and Accounting (TAA) is proud to announce that Cathy Rowe, Senior Vice President and Segment Leader, U.S. Professional Market, has been named to Accounting Today’s 2025 “Top 100 Most Influential People in Accounting” list for the second consecutive year. The 2025 Top 100 celebrates a dynamic group of professionals who are driving transformation across the accounting landscape. This year’s honorees include firm leaders, educators, technology pione...

MEXICO CITY--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior), the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” (Superior) and the Mexico National Scale Rating of “aaa.MX” (Exceptional) of HDI Global Seguros, S.A. (HDI-GS) (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect HDI-GS’ balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorab...