Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
Shares of Valley National Bancorp. slumped Wednesday after the Wayne, N.J., company reported a first-quarter profit that fell short of analysts' expectations.
Some banks in Texas and Oklahoma are likely to start scouting acquisitions in states such as Colorado and California so that their fortunes are not so tied to the energy sector.
United Community Banks reported strong revenue and earnings gains in the first quarter thanks largely to a pair of recent acquisitions.
Federal Savings Bank in Chicago has acquired the assets of ICC Mortgage Services in Westbury, N.Y.
New York Community Bancorp in Westbury and Astoria Financial in Lake Success, N.Y., are one step closer to completing their merger.
Zions Bancorp. in Salt Lake City reported increased quarterly earnings that reflected higher net interest income.
Some are looking at buying banks or counting on recently announced acquisitions to diversify revenue streams. Others are investing in fee-based businesses and new technologies and all, of course, are trying to keep a lid on expenses.
KeyCorp in Cleveland reported lower quarterly profit as expenses tied to its pending purchase of First Niagara Financial Group cut into its earnings.
BancorpSouth in Tupelo, Miss., posted lower earnings, in part because of costs from a possible settlement of allegations related to its fair-lending practices.
Profits barely budged at Umpqua Holdings in Portland, Ore., even though it recorded strong consumer and other loan growth last quarter.