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3 Min Read BOSTON, March 5 (Reuters) - A go-to lender for U.S. electric cooperatives has $4 billion in exposure to the Texas market, where last month’s deep freeze slammed the finances of several co-ops hit with astronomically high gas and electric prices during the state’s grid blackout. The latest quarterly financial disclosure from the National Rural Utilities Cooperative Finance Corporation (CFC) shows the Texas market accounts for 15% of the lender’s $27.1 billion in outstanding loans. Dulles, Virginia-based CFC has not had any loan defaults in its electric utility loan portfolio since fiscal 2013. Numerous Texas electric co-ops are facing potential bankruptcy due to the massive bills incurred when power prices spiked during the Texas freeze that killed several dozen people and left millions without power for days. ....
2 Min Read (Reuters) - Alkami Technology has chosen Goldman Sachs Group Inc to lead preparations for a planned initial public offering of the U.S. banking software provider later this year that may value it at $3 billion, people familiar with the matter said on Monday. Backed by investors including General Atlantic, D1 Capital Partners and Fidelity Management and Research Company, the Plano, Texas-based firm supplies cloud-based platforms that banks and credit unions can use to set up digital offerings for their retail and business customers. The IPO plans come as the COVID-19 pandemic has highlighted how financial services companies need secure and effective digital platforms. Smaller banks typically do not have the resources to invest in developing such systems internally, and instead turn to third-party providers such as Alkami. ....