Polo Rocha is a Washington D.C.-based reporter who covers consumer finance and national banking trends. He previously covered the Federal Reserve at S&P Global Market Intelligence and state politics at WisPolitics.com. He graduated from the University of Wisconsin-Madison and has a master's in finance degree from Johns Hopkins University.
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The added capital will help the New Jersey-based regional bank reduce its commercial real estate footprint faster and give it wiggle room to grow elsewhere, analysts said.
November 8 -
During Donald Trump's last presidency, the massive merger that created Truist shook up the industry. What's coming this time around?
November 8 -
An index of bank stocks rose 8.5% early Wednesday after Donald Trump won his bid to return to the White House.
November 6 -
Investors brushed off a potentially prolonged week of U.S. election results and instead focused on fresh economic data.
November 5 -
The Detroit company's charge-offs on consumer auto loans rose sharply last quarter. Its CEO said he's confident losses will decline, but the next few quarters "will be choppy."
October 18 -
The Cleveland-based bank took a hit from a large bond sale, leading to a quarterly loss. But net interest income rose, and the company expects that metric to hit a key milestone in the fourth quarter.
October 17 -
Purchases on the company's credit cards fell 4% as some customers traded down to cheaper goods or skipped discretionary spending. But CEO Brian Doubles said consumers remain in "pretty good shape" as they manage their budgets.
October 16 -
Caution among business owners has held down loans at the megabank and many of its smaller competitors. But third-quarter earnings suggest activity is rebounding.
October 15 -
The megabank's scale hasn't made it immune from the deposit wars that have crimped bank profits. But the "stabilization" that Wells Fargo flagged is a positive sign as other banks start reporting earnings.
October 11 -
The Canadian bank's stateside retail operations will be hamstrung by a massive anti-money-laundering settlement. But executives said the company can lean on both its Wall Street business and lines of revenue north of the border.
October 10
