Earnings
The results came a day after it emerged that Canada's second-largest bank doesn't anticipate regulators will approve its deal for Memphis, Tenn.-based First Horizon Corp. by May 27, as it previously projected.
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The Canadian bank now expects loan growth in the mid-single-digit range this year, down from a high-single-digit forecast three months ago. "We're not slowing, but the economy is," one executive said.
February 28 -
Primis Financial in McLean believes its multimillion-dollar investment in a subsidiary that makes online loans to doctors, dentists and veterinarians will begin paying off this year, after build-out costs weighed on the bottom line in 2021 and 2022.
February 8
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After soured loans rose above the private student lender's expectations in 2022, its stock price fell 16% on Thursday. One analyst wrote that "persistent credit issues have damaged management's credibility."
February 3 -
The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion.
January 31 -
North Carolina-based First Citizens blamed a rise in problem credit on certain office loans that it acquired in the CIT Group merger. Connecticut-based Webster also expressed caution about the segment, which has been impacted by remote work policies.
January 26 -
As deposits grow scarcer, the Stamford, Connecticut-based bank's acquisition of interLINK earlier this month promises to yield billions of dollars in core funding it can put to work paying down borrowings or purchasing securities, CEO John Ciulla says.
January 26 -
The Boston bank reported broad-based increases in loans during the fourth quarter, and said it's upbeat about its forecast for 2023. "I think the reason why we're comfortable is because we haven't changed our credit box at all," said CEO Nitin Mhatre.
January 26 -
The card network sees digital payment opportunities and upside from China's reopening, but inflation and the slower pace of travel spending could slow growth.
January 26 -
With the $7.5 billion acquisition, the Minneapolis bank bolstered its customer base in the nation's most populous state by more than 1 million. Earnings accretion from the combination could offset slower loan growth this year.
January 25
