Laura Alix

The election of Democrat Phil Murphy as New Jersey's next governor is being hailed as a victory for advocates of state-owned banks. But challenges remain — namely, stubborn opposition from mainstream banks.

While the Bank of America chief says he is encouraged by progress on tax reform, he cautioned that it remains politically and fiscally tough to accomplish, and that the wrong moves on immigration could offset some of the gains from tax cuts.

The San Francisco-based lender still posted losses in its portfolio, although those declined considerably from the year-ago period.

With marijuana sales set to become legal in California soon, a working group there says that a state-backed financial institution should be among the measures weighed to address the lack of banking services available to the pot industry.

Rather than pull up stakes and leave two low-income Mississippi towns at the mercy of payday lenders, Regions Bank donated the branches to a local credit union and kicked in another $500,000 for operating costs.

Top banking executives called the Republican tax plan an important first step toward tax reform and economic stimulus, but questions immediately arose about whether trade-offs and complexities in the bill would undercut it.

Home equity lines could double over the next six years. Some banks are actively pursuing the consumer credit opportunity, whereas many still feel stung by the housing crisis, unimpressed by home equity’s comeback so far or fearful of nonbank competition and fraud.

The Alabama bank's provision for loan losses rose 59%, but it still reported an 8% increase in 3Q profits thanks to stronger margins and fee income.

That loan growth helped boost the San Antonio bank's profit by 16.5% year over year.

BOK Financial benefited from rising interest rates in the third quarter even as it reported declines in fee income and commercial real estate loan balances.

Growth in net interest income was offset by a decrease in revenue from mortgage banking and capital markets, the Birmingham, Ala., company said Tuesday.

Hawaii's booming economy contributed to the Honolulu bank's 10% increase in loans and 9% increase in deposits in the third quarter.

Flush with capital and facing stiff competition for customers, many regional banks appear to be mulling acquisitions to accelerate growth.

The Providence, R.I., company surpassed its goal for return on tangible common equity that it had set for itself after its initial public offering.

Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations,

Burgess, chairman of FirstCapital Bank of Texas, succeeds Dorothy Savarese, of Cape Cod Five Cents Savings Bank in Massachusetts, as chairman of the American Bankers Association.

Third-quarter profits at the Georgia bank rose 52% thanks to doubled-digit growth in consumer lending and the sale of credit card assets it had obtained from the retailer Cabela's.

The San Francisco bank hopes to win middle-market business from its new commercial offices in Cleveland and Dallas.

Third-quarter results from PNC, Bank of America, First Horizon and others suggest that demand for commercial loans may not be as weak as bankers and investors had feared. Or maybe some banks are just getting really good at poaching rivals’ customers.

The Pittsburgh company benefited from loan growth and higher interest rates, though fee income fell and expense rose in the third quarter.