Commercial lending

Some banks and credit unions, once hopeful of a swift end to the pandemic, are beginning to toughen credit underwriting and rethink growth strategies as if the coronavirus will influence the economy for years to come.

Bankers are hopeful that the rebound in oil prices and a spike in natural gas use are precursors to more borrowing. But banks are maintaining above-average levels of reserves in case the delta variant stifles economic momentum.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

The billionaire entrepreneur, Dallas Mavericks owner and "Shark Tank" co-host has always been outspoken. In a recent interview, he shared his thoughts on the shortcomings of the Paycheck Protection Program, the problem with bank consolidation and the future of cryptocurrency.

It may seem odd that Citigroup has created an online lending platform that matches small businesses with minority-run and other banks for no financial benefit. Yet company executives and observers say it makes sense.

Small increases in commercial real estate loan volumes, particularly at midsize banks, may be indicators that the sector has weathered the worst of the pandemic. Construction loan originations, which tend to fall sharply during a recession, are leading the way.

The combination of American Express and its fintech subsidiary Kabbage is starting to bear fruit at an opportune time, as credit card companies increasingly expand their range of products to boost revenue.

On Mar. 31, 2021. Dollars in thousands.

Ando, a challenger bank focused on sustainability, is helping Virginia Community Capital Bank expand its 5-year-old clean energy lending program by finding a bigger pool of depositors who are eager to fund solar loans.

The industry had tightened up last year in the face of COVID-19. But as the economic outlook improves, banks are now easing criteria amid heightened competition, according to the Federal Reserve’s survey of loan officers.

The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.

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.