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Panic around energy lending has subsided somewhat as oil prices have climbed and banks have reduced their overall exposure. But expect more trouble ahead if prices level off.
July 19 -
Even absent a rate hike, executives believe that the banking giant can still improve profits by hitting this expense target.
July 18 -
U.S. Bancorp could see a slight uptick in revenue in its payments business after the U.K.'s decision to leave the European Union, Chief Executive Richard Davis said on a conference call Friday.
July 15
M&T Bank's second-quarter profit improved thanks to a lower loan-loss provision and other factors.
Year-over-year comparisons of the $124 billion-asset Buffalo, N.Y., company's results were distorted by its Oct. 31 acquisition of Hudson City Bancorp in Paramus, N.J. Net income rose 14% from the first quarter to $313 million.
Net interest income after the loan-loss provision rose 1% from the first quarter to $832 million. The provision fell 35% to $32 million. Net loans and leases rose 0.7% to $88.5 billion as an increase in commercial real estate lending was offset by a decline in residential mortgages. CRE rose 3.4% to $30.7 billion.
The net interest margin narrowed by 5 basis points to 3.13%.
Noninterest income rose 6% to $448 million on higher trust income and trading account and foreign exchange gains.
Noninterest expense rose 13% to $336 million. M&T recorded $12.6 million in merger-related expenses. Its efficiency ratio improved by 194 basis points to 55.06%.
