Stash's new core; Congress grills bank CEOs; what the Fed's Powell thinks

Neobanks have come up with all sorts of takes on things banks do. Here's a new twist: Challenger bank debuts its own core system. The fintech Stash hopes its new technology infrastructure will help it scale and quickly roll out new products

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Here's some more of what we're covering today:

Southern Missouri Bancorp buying bank to expand in Kansas City: The buyer said it would pay $140 million in cash and stock to acquire Citizens Bancshares, Inc. . It would gain about $1 billion of assets in and around Missouri's largest city.

Calabria: FHFA is making housing less affordable by backing investors: Mark Calabria , the former head of the agency, said a decision last year to suspend caps on investor loans has further induced demand in an already hot market. Other experts say a supply-demand imbalance is the true driving force.

Powell: Fed will sell mortgage-backed securities, just not yet: The Federal Reserve Board chair said actively selling securities will become necessary as it looks to reduce its balance sheet, but not anytime soon.

Bank CEOs navigate wide range of Democrats' and Republicans' grievances in House hearing: Jamie Dimon and fellow bank leaders were grilled on their long- and short-term expectations for the U.S. economy, the potential impact of capital reform under the Biden administration, banks' investments in Chinese markets, and the future of oil and gas lending.