Finance

The Boston bank, which has been targeted by an activist investor over its M&A strategy, isn't pursuing deals, CEO Denis Sheahan said Friday. Instead, the company is focused on organic growth and share buybacks.

The Raleigh, North Carolina-based bank recently made its first payment on a $35 billion note held by the Federal Deposit Insurance Corp. The note was arranged as part of First Citizens' purchase of the failed Silicon Valley Bank.

Many servicing metrics look weaker amid lower rates although valuations can vary depending on companies' models, operations and portfolio composition.

The McLean, Virginia-based bank plans to close the deal in mid-2026, about a year after it sealed its landmark purchase of Discover Financial Services.

With one Texas acquisition integrated and another deal set to close next month, Huntington Bancshares is projecting double-digit growth in loans and revenue this year.

Three weeks after completing its "merger of equals" with Synovus Financial, Pinnacle Financial Partners said it plans to hire 225 to 250 revenue-generating bankers in 2026 across its newly expanded Southeast footprint.

The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.

The auto lender's earnings mostly surpassed expectations in the fourth quarter, but in 2026 it expects higher unemployment and a weaker labor market.

Though fourth-quarter net charge-offs reached a level not seen since the financial crisis, the Little Rock, Arkansas-based regional bank is forecasting better results in 2026 and an even stronger recovery in 2027.

The Providence, Rhode Island-based bank has steadily revamped certain parts of its strategy. Now, it will update its systems for serving customers.

The Minneapolis-based regional saw its fourth-quarter profits jump 23%. Consumer deposits bumped up, while operating expenses remained muted.

In the 11 months after Fifth Third completes its acquisition of Comerica, the Cincinnati bank plans to send 13 million-to-14 million pieces of paper mail to retail customers. CEO Tim Spence says the old-fashioned method "still works," and actually has some advantages over more modern modes of communication.

The Cleveland-based bank announced changes Tuesday to its board of directors, including the appointment of a new lead independent director. Last month, activist investor HoldCo Asset Management urged the bank's board to not re-nominate its longtime lead independent director.

The Huntsville, Alabama-based regional bank is well positioned to defend its Southeast footprint, according to CEO John Turner. It's hiring more bankers in growth markets, it has strong brand recognition and it has a long history in its core markets, he said.

"We're coming into your market," PNC Chief Executive Bill Demchack said Friday. "If you're not coming into our market to come fight us, we're coming to your market to come fight you, and we're going to get some percentage of your market."

During the fourth quarter, the Buffalo, New York-based bank reported its lowest ratio of nonperforming loans to total loans since 2007.

Federal Reserve Vice Chair for Supervision Michelle Bowman warned that labor market conditions could weaken further and said the central bank should avoid signaling a pause in monetary policy.

First Horizon's loans to mortgage companies in the fourth quarter rose at the fastest clip in more than two years, as the housing market showed small signs of revival.

The fintech investment firm Portage is now managing a $280 million portfolio acquired from the venture arm of Mets owner Steven Cohen's firm Point72.

Goldman Sachs' fourth-quarter earnings far exceeded analysts' forecasts, overcoming losses from its consumer-focused Platform Solutions unit.