Earnings
The North Carolina-based bank is considering the idea of selling a portion of its securities portfolio as a way to build capital, CEO Bill Rogers said Tuesday. At the end of the third quarter, Truist's securities were worth about 20% less than what the company paid for them.
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Expenses at Canada's second-biggest bank are higher than they should be, and the layoffs are one part of a plan to control costs going forward, executives say. Other Canadian banks including CIBC, Scotiabank and BMO have also shed workers this year.
December 1 -
Los Angeles-based City National Bank recorded a $247 million loss during a tumultuous final quarter of its fiscal year. But executives at the bank's Canadian parent company say they expect a return to profitability in the first quarter.
November 30
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Share prices climbed sharply amid increased optimism about the outlook for interest rates. Regional banks that got hammered earlier this year were among the biggest winners.
November 15 -
More banks are selling their underwater bond portfolios at a loss, crystallizing what were previously losses on paper only. Though the maneuver brings some short-term pain, the banks expect to make the money back over time.
November 6 -
Taking the reins again as chief executive of Block following the recent departure of CEO Alyssa Henry, Jack Dorsey has launched internal changes to jump-start growth, eliminate silos and promote the use of artificial intelligence.
November 3 -
The San Antonio bank reported a 14% increase in noninterest expenses and a 7% jump in loans. "We're not trying to be successful by shrinking," said CEO Phil Green.
October 27 -
Intensifying economic pressures caused Bread Financial's customers to cut their credit card spending by 13% during the third quarter as the rate of delinquent accounts rose.
October 26 -
As the government weighs changes to interchange, Michael Miebach voiced his displeasure during the company's earnings call.
October 26 -
The Oklahoma-based bank is projecting a modest uptick in spending alongside continuing loan growth. Many other banks are tightening the purse strings amid weaker loan demand.
October 25
