Shares of Cathay General Bancorp soared Wednesday after the Los Angeles company reported a nearly 20% increase in its third-quarter profit.

Bank of New York Mellon (BK), the world's largest custody bank, said third-quarter earnings climbed 11% as rising stock prices helped expand customer assets.

Bricks-and-mortar locations aren’t yet obsolete. Leading banks are responding to changing consumer demands by developing specialized branch formats, increasing their focus on advice and emphasizing proactive engagement with customers.

U.S. Bancorp, the nation's biggest regional lender, said third-quarter profit climbed 16 percent to a record, beating analysts' estimates as mortgage-banking revenue more than doubled.

Bank of America Corp., the second- largest U.S. lender, said third-quarter profit dropped 95 percent on litigation expenses and an accounting charge tied to the firm's debt.

Sterling Financial in Spokane, Wash., said that two lawsuits filed over its bank's overdraft fees have been dismissed.

IMGCAP(1)]

EAST LOS ANGELES – The $1.2-billion NuVision FCU said it will close a branch here at the end of October, further limiting the already limited number of financial outlets in this low-income side of town.

IMGCAP(1)]

ESSEXVILLE, Mich. – FinancialEdge Community CU here will open the doors of a new location inside a Do-All resale store tomorrow on International Credit Union Day.

Strong net interest income helped Wintrust Financial (WTFC) overcome rising labor expenses and smaller gains on failed-bank acquisitions.

Park National (PRK) in Newark, Ohio, warned that a loan chargeoff may lower earnings per share for the third quarter by as much as 41%.

Fulton Financial (FULT) in Lancaster, Pa., said late Tuesday that its third-quarter profit climbed 5.7%, to $41.6 million, from the same period last year as improved asset quality and growth in fee income offset sluggish loan growth.

Although the consumer bureau is appearing closer to a final plan on defining 'qualified mortgages,' neither lenders nor consumer groups seem very satisfied.

A New York judge has dealt a setback to at least one insurer hoping to recover losses stemming from claims on policies that covered mortgage-backed securities.

BofI Holding (BOFI) in San Diego plans to raise $18.6 million through a private placement of preferred stock.

Stonegate Bank (SGBK) in Fort Lauderdale, Fla., beefed up its lending team even as it reported higher profits for the 27th consecutive quarter.

Vikram Pandit may have saved Citigroup, but he was never a natural fit as its long-term leader. Now the board is betting Michael Corbat, a company lifer, has the chops.

The trade group's annual gathering showcased an industry less preoccupied with stabilizing itself and adapting to new regulations — and more interested in looking toward the future.

Lakeland Bancorp (LBAI) in Oak Ridge, N.J., posted third-quarter profit of $5.5 million, up more than 14% from a year earlier as nonperforming assets and noninterest expenses declined.