Earnings
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."
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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
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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 -
Members of the American Bankers Association's Economic Advisory Committee expect gross domestic product to stall in 2023. Other surveys show a modest contraction. Lenders say sentiment among their borrowers also points to a slight slowdown.
January 24 -
The Dallas-based company says noninterest expenses should grow by low double digits in 2023 now that the bulk of the investments related to its business transformation have been incurred.
January 23 -
The declining credit quality included more borrowers with higher credit scores falling behind on their credit card payments. But executives said the increase remains within expectations as it continues seeing "very linear normalization" in credit.
January 23
