Earnings
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.
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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
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The Southeast regional bank plans to use the deal's sizable proceeds to pay down wholesale borrowings and restructure its securities portfolio. Numerous banks have made similar moves in recent months.
October 24 -
The Alabama bank reported that check fraud resulted in operational losses of $135 million between April and September, including $53 million last quarter. The entire banking industry has been beset by higher levels of check fraud since the start of the COVID-19 pandemic.
October 23 -
The Dallas company, which is in the midst of a four-year business overhaul, is facing a margin squeeze in the coming quarters. But even as analysts express skepticism, company executives aren't budging from the profitability goals they set two years ago.
October 23 -
Other regional banks are vowing to cut costs, but Huntington Bancshares CEO Steve Steinour says the Columbus, Ohio-based lender is well positioned to "play offense" in 2024.
October 20 -
"We'll be taking steps to offset expense pressures," CEO Curtis Farmer told analysts after the company reported an 11% year-over-year jump in costs and falling profits.
October 20 -
Executives say the $213 billion-asset company's strong credit performance in the third quarter positions it to pursue loan growth next year.
October 19 -
High deposit costs and low-yielding assets weighed on the company's net interest income, which fell to its weakest level since the first quarter of 2017. But Key executives predicted that a turnaround is coming soon.
October 19
