Earnings
The bank's allowance for losses on commercial real estate loans jumped to $3.6 billion in the second quarter — up 64% from a year earlier. The negative forecast could portend trouble for smaller banks that have bigger exposure to the office sector.
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For now, worries about more bank failures have faded. But in the wake of the recent industry turmoil, higher funding costs are expected to weigh on banks' second-quarter results.
July 12 -
California regulators are suggesting that programs that allow workers fee-free access to their earnings between pay periods should be treated as loan products. That's wrong and short-sighted.
June 20
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Both regional banks announced weaker guidance for net interest income than they had foreseen two months ago. The disclosures highlighted pressures that figure to take up a lot of the oxygen during second-quarter earnings season.
June 14 -
Dan Schulman plans to accelerate moves into advanced machine learning, checkout and merchant services to add speed and efficiency to product development.
May 9 -
In the wake of spiking interest rates and surging deposit costs, bankers are looking for ways to scale back their overall expense bases to protect their bottom lines.
May 8 -
The Pacific Northwest bank didn't reveal exactly how much more it expects to save. But executives said that they expect to achieve their earlier target sooner than they previously anticipated.
April 27 -
Like Visa CEO Ryan McInerney, Mastercard CEO Michael Miebach spent part of his company's earnings call drawing a competitive distinction between the card network and FedNow.
April 27 -
The California bank, which endured large deposit outflows in March, anticipates selling its $2.7 billion lender finance portfolio in the coming months. It's also looking at cutting facilities, employee headcount and vendor costs.
April 26 -
The Dallas-based company is intentionally shedding certain deposit relationships that don't align with its new business model. Total quarterly deposits fell 12.6% year over year, but they rose 1% after excluding the relationships targeted for reduction, according to the bank.
April 24
