BELLEVUE, Wash. - First Mutual Savings Bank estimated that after-tax earnings in the fourth quarter would be above $500,000.
Because the thrift earned $607,000, or 43 cents a share, in the first nine months of 1992, the full-year 1992 earnings may not even reach the $1.2 million, or 87 cents a share, earned in the first three quarters of 1991.
First Mutual said the lower earnings are due to accelerated amortization of its mortgage servicing amid a heavy volume of refinancings.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
