Finance

The company recently agreed to be sold to SmartFinancial in Knoxville, Tenn.

The nation’s fifth-largest bank now has the financial flexibility to consolidate more branches in existing markets and open new, smaller ones in cities where it has no retail presence, CEO Andy Cecere said.

PNC chief Bill Demchak says he's pretty sure the U.S. isn’t heading into recession, but asset quality is so strong that the regional bank is giving itself a wide berth in forecasting its loan-loss provision in case of the unexpected.

Bank of America CEO Brian Moynihan and his fellow executives said they see nothing to suggest a slowdown is imminent. Their outlook was far more upbeat than that of JPMorgan chief Jamie Dimon.

The Dallas company beat earnings estimates even as it reported declines in deposits, total loans and fee income.

The company's fourth-quarter results were also stymied by costs tied to severance and litigation, along with investments in technology.

This is the seventh consecutive year that the Kansas City area institution has returned at least $5 million to its members.

Goldman Sachs Group Inc., owner of one of Wall Street’s top dealmaking franchises, leaned on that business last quarter to overcome an industrywide downturn in fixed-income trading.

The deal, valued near $22 billion, will combine two of the financial services industry's largest tech and processing firms; both banks top expectations.

Retail banking loans rose 5% at Bank of America, which also reported a 3% increase in consumer deposits and a 12% leap in net interest income in consumer banking.