Allissa Kline

Boston-based Eastern Bankshares is focused on organic growth, but it would "evaluate the opportunity" for M&A if a deal presents itself, its CEO said Friday. The comments came four days after an activist investor criticized the bank's recent M&A transactions.

The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.

The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.

The Dallas-based regional bank's return on average assets exceeded its goal of 1.1% for the first time, coming in at 1.3% for the third quarter. The bank has been in transformation mode since 2021.

An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.

Bank of America has a playbook for government shutdowns, which includes providing fee and payment waivers as well as loan deferrals and forbearance programs, CEO Brian Moynihan said at the American Bankers Association's annual convention.

The Boston-based bank is the second bank in three months to face pressure to sell by the activist investor group HoldCo Asset Management.

Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.

The Charlotte, North Carolina-based bank reported net income of $1.45 billion for the third quarter and earnings per share of $1.04, which beat analysts' forecast of $0.99 per share.

The Bank of New York Mellon had 117 different AI solutions in production at the end of September, Chairman and CEO Robin Vince said. That's up 75% from the second quarter.

The Canadian bank plans to sell the branches, which are mostly in the Midwest and Great Plains, to First Citizens Bank in North Carolina. At the same time, it plans to build 150 branches over the next five years in markets with longer-term growth prospects.

Amid a surge in bank mergers, Citizens CEO Bruce Van Saun said the Providence, Rhode Island-based bank is largely focused on organic growth. "It would have to be a pretty high bar for us to go down that path," he said.

The megabank's multiyear effort to simplify its business model and improve its risk management is starting to pay off in the form of more consistent profitability and improved returns, CEO Jane Fraser told analysts.

The regional bank has launched a digital student banking center that's part of a broader strategy to focus on relationship-building.

Don McCree, who has led commercial banking at Citizens since 2015, plans to retire next year. His successor, Ted Swimmer, who was in charge of capital markets, took over on Tuesday.

The Oklahoma City native, who joined Truist in early 2024, oversees a mix of businesses including commercial and corporate banking, commercial real estate, investment banking and wealth management.

For the fifth consecutive year, Fraser is American Banker's Most Powerful Woman in Banking. The CEO, who is nearing her fifth anniversary in the job, remains keenly focused on generating higher revenues, cutting expenses and closing the profitability gap with peers.

Fifth Third announced it plans to buy the Dallas bank in a $10.9 billion transaction.

Many banks lowered the interest rates they pay on certificates of deposits and high-yield savings accounts in September, capitalizing on the Fed's 25-basis-point cut.

The Harrisburg, Pennsylvania, community bank agreed to acquire 1st Colonial Bancorp in Mount Laurel, New Jersey, in a $101 million deal that would help deepen its presence in greater Philadelphia.