Finance

The loan-growth projections are for Columbia Banking System itself, before the Tacoma, Washington, bank officially merges with Umpqua Holdings. The $5 billion deal is scheduled to close Feb. 28.

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.

The Federal Reserve's quantitative-tightening program risks being propelled toward an early end as U.S. politicians bicker in Washington over raising the national debt limit, according to some economists and bond market participants.

The breaks for some lower-income borrowers are welcomed, but the use of debt-to-income as a differentiator could complicate originations at a challenging time, lenders say.

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.

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.

The crypto rebound has gained so much speculative vigor that even tokens torpedoed last year by their dependence on the discredited mogul Sam Bankman-Fried have rallied, with some more than doubling this month.

The custody giant benefited from rising interest rates, which helped offset choppy financial markets and a decline in fee income.

Morgan Stanley decreased Chief Executive James Gorman's compensation by 10% to $31.5 million for 2022, a year in which profit tumbled and the shares sank.

The Birmingham, Alabama, bank expects up to $5 billion in additional deposit declines in the first half of 2023 but is hopeful for potential growth in funding later this year.