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Nobody thought it would be pretty, but last quarter's results were even worse than expected, and low fee revenue is largely to blame. Trading and mortgage banking were particularly bad, and few of the big banks managed to offset the declines.
October 28 -
UMB Financial in Kansas City, Mo., reported lower third-quarter profit, due to weaker revenue from its Scout Funds arm and merger costs.
October 28 -
The third quarter showed the kind of solid results Citizens Financial hopes to achieve as a public company split off from Royal Bank of Scotland, but much work remains for Chief Executive Bruce Van Saun. He spoke with American Banker about what went right this quarter and how he's working to change the company's culture.
October 23 -
Citizens Financial Group in Providence, R.I., managed to build up lending and hold its margins relatively steady last quarter, leading to a healthy gain in profits.
October 23 -
CIT also plans to sell peripheral businesses to simplify its structure, less than three months after the close of its $3.4 billion deal for OneWest Bank.
October 21 -
Profits fell at New York Community Bancorp in Westbury, N.Y., as it continued to manage its balance sheet to stay below a key regulatory threshold.
October 21 -
The most international of the megabanks surprised analysts with a strong quarter Thursday, despite unrest in some of its distant markets. Citi execs see a slowdown coming in its emerging markets but say there is no reason to panic yet.
October 15 -
Bank of America's long effort to become a slimmer, more profitable retail bank could be starting to pay off. In a tough quarter for revenue growth, its consumer banking division gained traction thanks to branch consolidation, investments in mobile banking and other factors.
October 14 -
Who cares what time a bank announces its quarterly earnings? A lot of people, it turns out, from investors who bet large on the data to bankers who use crafty scheduling tactics to announce before their competitors.
October 9 -
Independence Bancshares in South Carolina last week fired its CEO and gave up its dreams of shaking up the payments world after losing nearly $9 million on the effort. Many details are still unknown, but it looks like a case study for what can go wrong when community banks invest in technology.
October 6