Commercial banking
In a new survey, 38% of treasurers said they want to bump up their allocation to money market funds. Only 27% were looking to increase their bank deposits, highlighting the pressures the industry faces as it strives to hold onto customers' cash.
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CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.
June 13 -
Financial institutions that received funding from the Emergency Capital Investment Program grew their loans by 35% between 2021 and 2022, according to new research. Now leaders at those institutions are turning their attention to the need for patient deposits.
June 8
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The Tennessee-based bank was supposed to be acquired this year, but the merger fell apart a month ago. Now executives say that employees are energized as they reengage with clients who are relieved that they won't be switched away from First Horizon's systems.
June 6 -
CEO Bill Rogers says the North Carolina bank is contemplating additional business segment changes to improve its efficiency. Investors have been pushing the company to cut costs at a faster clip.
May 31 -
The two banks failed to meet a requirement that they document their efforts to combat discrimination in lending and employment, according to city officials. KeyBank said the decision was the result of a misunderstanding.
May 25 -
Venture capital banking and wealth management are two areas where the nation's largest bank sees a chance to make gains amid a rash of bank failures. After the company's investor day on Monday, one analyst wrote: "Goliath is winning."
May 22 -
The Cincinnati, Ohio, bank targeted Rize Money due to its "ease of accessibility," according to Fifth Third's head of wholesale payments. The acquisition comes as the $205 billion-asset bank has seen wealth and asset management revenue decline in recent years.
May 22 -
The Florida lender hired corporate bankers in New York City who had previously worked at First Republic Bank, which collapsed last week.
May 11 -
The Federal Reserve's survey of senior loan officers is being closely watched since it follows the recent turmoil in the banking industry, which has prompted concerns that a pullback in bank lending could slow economic growth.
May 8
