Paul Davis

The hiring of former Citigroup executive Sallie Krawcheck and the abrupt departure of veteran Liam McGee has kicked off a five-candidate race to succeed president and chief executive Kenneth D. Lewis.

In the latest results-reporting period, many bankers touted a drop in loans that are one payment late. Bank of America Corp. said that such delinquencies had fallen for a second quarter in a row.

Colonial BancGroup Inc. of Montgomery, Ala., said Friday that there is "substantial doubt" it will survive after a plan to sell itself to a Florida mortgage lender fell through.

John T. Collins, William Barnet 3rd, and Gary L. Countryman resigned from the board this week, the company said in a regulatory filing.

Retail banker lays out leadership lessons in his new book; M&T Bank chief takes Wall Street to task in op-ed piece; Risk Management Association tags interim chief.

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Famous for its desire to be the bank of America, Bank of America Corp. announced this week that it will shrink its sprawling branch system. For the Charlotte company, the move is a sea change in self-perception, from grand to … realistic.

The North Carolina company said profits fell 76.3% from a year earlier, to $6.2M. The loan-loss provision rose 55.3% from a year earlier, to $20.8M.

Colonial BancGroup said in a regulatory filing that the Federal Reserve and the Alabama State Banking Department issued the order, effective July 22.

More thought is being given to how rising unemployment could further wound loan portfolios, how many banks would be able to withstand a rate that exceeds the generally accepted mark and whether the government would need to revisit its stress tests.

Capital One reported a second-quarter loss that was attributed to the dividends it paid on preferred stock from the Troubled Asset Relief Program.

Synovus Financial reported its fourth straight quarterly loss because of higher credit costs. The Columbus, Ga., banking company lost $601.2M in the second quarter.

Tech mishap prematurely ends difficult conference call for Regions; more executive shuffling at Bank of America; Synovus saving green in going green.

In Guidance, B of A Pulls Its Punches

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Fifth Third Bancorp. is running out of options.

Capital has been hard to come by for many banking companies, but that is not dimming the optimism of several former executives from Signet Banking Corp. for a significant start-up effort in their Virginia environs.

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