John Reosti

Uncertainty surrounding the regulatory approval process and overall economic conditions will act as a brake on bank mergers and acquisitions in 2023, says John Corbett, CEO of Florida-based SouthState.

North Carolina-based First Citizens blamed a rise in problem credit on certain office loans that it acquired in the CIT Group merger. Connecticut-based Webster also expressed caution about the segment, which has been impacted by remote work policies.

As deposits grow scarcer, the Stamford, Connecticut-based bank's acquisition of interLINK earlier this month promises to yield billions of dollars in core funding it can put to work paying down borrowings or purchasing securities, CEO John Ciulla says.

While branch closings remain the norm throughout the industry, the hunt for suddenly scarce deposits is prompting some community banks to move in the opposite direction and expand their branch networks.

The custody giant benefited from rising interest rates, which helped offset choppy financial markets and a decline in fee income.

Cleveland-based KeyCorp posts a subdued profit in the wake of a loan loss provision that was more than six times greater than the level of fourth-quarter net charge-offs.

The New York bank reported a 17% drop-off in deposits during the fourth quarter as it sought to reduce its concentration in the digital currency realm. It expects its balance sheet to stabilize in the second half of 2023.

Robin Vince, who took the helm in September, said the world's largest custody bank has delivered disappointing results over the past decade, including in 2022, when he said it failed to control costs effectively.

AmeriServ Financial in Johnstown boosted earnings through the first nine months of 2022, but not enough to satisfy Abbott Cooper, who called the company a "prolonged underperformer."

The bank hired an executive from The Bancorp to manage its risk operations after the incumbent, Jeff Curry, announced his retirement.