PCSB in N.Y. Details Plans for Mutual Conversion, Stock Sale

PCSB Bank in Yorktown Heights, N.Y., is planning to convert to stock ownership, ending 145 years as a depositor-owned mutual. Expect banks to pull back on energy lending in the near term, as regulators step up their scrutiny of oil loans and bankers approach the business with a "different attitude," says Mariner Kemper, chairman and chief executive at UMB Financial in Kansas City, Mo.