Fifth Third Bancorp said a drop in the value of a payments subsidiary, and higher legal costs, led to a 25% year-over-year drop in its quarterly profit.
PrivateBancorp (PVTB) in Chicago beat quarterly earnings estimates as its lending revenue and credit quality continued to improve.
KeyCorp (KEY) offset lower revenue with cost cutting last quarter.
Webster Financial Corp. (WBS) in Waterbury, Conn., reported solid first-quarter results thanks to a surge in commercial lending.
BB&T (BBT) in Winston-Salem, N.C., narrowly missed Wall Street's first-quarter expectations because of sluggish loan growth.
William Young, the founding chief executive officer of Virginia Partners Bank in Fredericksburg, Va., will retire on June 30.
Goldman Sachs, the Wall Street bank with the highest return on equity in 2013, reported earnings that topped analysts' estimates as investment-banking revenue jumped to the highest level since the financial crisis.
Morgan Stanley reported profit that beat analysts' estimates as a surprise jump in fixed-income results helped the firm post the only increase in trading revenue among the six biggest U.S. banks this year.
JPMorgan Chase digital chief Gavin Michael, who joined the firm a year ago, has a certain disdain for some competitors' staid mobile-banking apps. So when it came time for the bank to update its app, Michael said he studied software produced by technology startups.
Hancock Holding in Gulfport, Miss., reported higher quarterly earnings after it aggressively cut costs.
American Express (AXP) reported a 12% increase in earnings Wednesday on the strength of improvements in credit quality, cuts in expenses and a modest boost in revenue.
Capital One (COF) in McLean, Va., posted slighter higher quarterly earnings that surpassed analysts' expectations.
WASHINGTON Good bank supervision is the best wait to limit risks to the financial system, but monetary policy can be used to promote stability in rare instances, Federal Reserve Gov. Jeremy Stein said Wednesday.
Comptroller of the Currency Thomas Curry said his agency is increasingly concerned about the cybersecurity risks from banks relying too much on certain vendors and using service providers in foreign countries.
Sens. Sherrod Brown, D-Ohio, and Elizabeth Warren, D-Mass., urged regulators on Wednesday to tighten restrictions on banks involved in physical commodities markets.