Commercial lending

Borrowers with Paycheck Protection Program loans of up to $150,000 will be able to apply for forgiveness directly through a government portal if their lender opts in. Industry representatives welcomed the move.

States in its footprint have some of the lowest vaccination rates in the country. Another round of shutdowns could further damage industries like hospitality that have already been hit hard by the pandemic, executives said.

The Wisconsin company’s growth initiative, expected to be unveiled by mid-September, will fund both a bigger commitment to online banking products and a push to expand in new and existing markets.

The best performers in our annual ranking of banks with $10 billion to $50 billion of assets benefited from a big lending push. But like their peers, the top 10 as a group saw their profitability slip last year compared with 2019.

Derek Ellington will replace Steve Troutner, who is stepping down for personal reasons. He will report to Mary Mack, the bank's CEO of consumer and small-business banking.

Small Business Administration lenders have reported strong quarterly results, but those gains could evaporate later this year. Here’s why.

The company has long focused on customers with ties to the two states. But as it emerges from the pandemic seeking new lending opportunities, CEO Rajinder Singh says, “We are looking at markets from Boston all the way down to Atlanta.”

Comerica, which focuses on the energy sector, reported strong payment trends last quarter, while M&T, which concentrates more on real estate, showed deterioration. The divergence reflects varying exposures to sectors hit hard by the COVID-19 recession.

Commercial and industrial loans fell 14.3% in the second quarter. But CEO Chris Gorman says green shoots are emerging, pointing in particular to recent stability in credit line utilization rates.

Mortgages and wealth management generated fees that gave top midtiers an edge, as the pandemic halted most lending outside of the Paycheck Protection Program.