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Richard Marotta left the Boston company less than two weeks after a goodwill impairment charge contributed to a large quarterly loss.August 10
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Square's gross payment volume tumbled by 15% year-over-year due to COVID-19’s impact, but revenue jumped as online selling rose, Cash App doubled in users and Square enabled almost $900 million in PPP loans.August 5
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The prepaid card company benefited from payments that were designed to offset the pandemic’s impact on U.S. consumers.August 5
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The company's results put firm numbers on one of the most discussed business trends of the pandemic economy — the acceleration of digital payments.July 29
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In what was a challenging quarter for the industry, the company reported strong loan growth and a wider margin. Continued momentum will depend on government stimulus, the reopening of New York City and borrowers' ability to make payments after their deferral periods end.July 29
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The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.July 28
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The slowdown in elective medical procedures caused by the coronavirus pandemic led to less spending from HSAs and a decline in interchange income for the Connecticut bank.July 24
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CEO Greg Carmichael says the Cincinnati company has cut expenses but will proceed with branch openings in the Southeast and investments in its commercial loan and mortgage origination platforms to lay the groundwork for post-pandemic growth.July 23
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Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.July 22
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The Dallas company, which in May terminated a deal to merge with Independent Bank, set aside $100 million for worrisome loans and incurred severance costs after cutting an undisclosed number of positions.July 22
