Earnings
The Cleveland-based regional bank said that its net interest income fell 10% — and profits declined by an even larger percentage — as it paid more to retain depositors. Still, CEO Chris Gorman said the company is "well prepared to handle the deposit challenges in front of the market."
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The Charlotte, North Carolina, company plans to fold the online consumer lending platform LightStream into its broader consumer business. On top of a recent pullback in bond trading, it may also make further reductions in its mortgage business and occupied real estate.
April 20 -
Paying higher rates to customers should help stem deposit outflows at the Salt Lake City bank. But it's expected to contribute to a projected 7% drop in net interest income during the second quarter.
April 20
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The Providence, Rhode Island, expects NII to decline 3% for the second consecutive quarter now that it's paying more to prevent a further slide in deposits and tightening lending standards in anticipation of a mild recession.
April 19 -
During its first-quarter earnings call, the Detroit-based company's CEO said it is seeking to "protect the house" by dialing back the pace of car-loan originations and seeking to attract more super-prime borrowers.
April 19 -
Executives at the Minneapolis bank responded to a research report that highlighted the decline in a key capital ratio after an acquisition last year. They don't plan to raise capital but aim to generate more of it from earnings in coming quarters.
April 19 -
The Phoenix bank provided behind-the-scenes details of the fallout from March's banking crisis, when it lost $8 billion of deposits in a single day. The company's share price closed up 24% on Wednesday after executives vowed to reassess its capital and liquidity strategy.
April 19 -
The Tennessee bank confirmed in its earnings report that the deal, already delayed by several months amid heightened regulatory scrutiny, likely would not close by a May 27 deadline. No new target date has been set.
April 18 -
Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.
April 18 -
As the Wall Street giant continues to scale back its consumer banking ambitions, the point-of-sale loan provider that it purchased in 2022 could be the latest target. And CEO David Solomon said there might be more moves ahead.
April 18
