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.
The Westbury, N.Y., company reported a 15% drop in earnings despite recording a large gain on the sale of some securities.
The New York company, which is preparing to buy Astoria Financial, reported year-over-year increases in commercial-and-industrial and commercial real estate loans.
Union Bankshares in Virginia lost several key lending officers after it bought StellarOne. Management as a result has made changes to minimize employee flight from its latest M&A target, Xenith Bankshares.
The Cleveland company, once criticized for an initial six-year forecast, now believes it will only take four years to rebuild its tangible book value.
KeyCorp also recorded a gain after buying the remaining ownership interest in a merchant services joint venture.
Buying Capital Bank puts the company on a fast track for more regulatory scrutiny. Executives are identifying ways to boost revenue and taking other measures so it can handle the change.
On the first big day of 2Q results, bankers said their investments in middle-market lending have started paying off. JPMorgan Chase and PNC have added commercial loan officers in new markets across the country.
First Horizon reported lower fee income in the second quarter. The company said it is making progress planning for its pending purchase of Capital Bank Financial.
First Citizens is pressuring KS Bancorp to sell even though the banks' operations overlap in many markets in eastern North Carolina.
The North Carolina company could issue $200 million in new securities over time to fund acquisitions and other investments.