Finance

The Richmond, Virginia-based bank expects to build 10 branches in Raleigh and Wilmington, North Carolina, over the next three years. M&A is on the back burner as the company also works to capitalize on its recent acquisition of Sandy Spring Bank in Maryland, CEO John Asbury said.

The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.

The credit card issuer added two programs with home goods retailers Raymour and Flanigan and Bed Bath and Beyond during the quarter while also increasing its stock buyback allocation and dividend payouts.

The company is leveraging its bank charter and strong customer acquisition, with app logins up nearly 50% from borrowers.

The Dallas-based regional bank's return on average assets exceeded its goal of 1.1% for the first time, coming in at 1.3% for the third quarter. The bank has been in transformation mode since 2021.

In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.

An apparent increase in large-scale borrower fraud and the hot environment for bank mergers were the key themes as banks discussed their third-quarter results.

The McClean, Virginia-based bank said Tuesday that credit quality remained strong in the third quarter, and that it has approved a plan to buy back $16 billion of common stock. It's temporarily tapping the brakes on loan growth as it digests the Discover acquisition.

Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.

Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.

In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.

Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.

SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.

The Cincinnati, Ohio-based bank delivered third-quarter earnings that mostly met expectations, even as it took a $200 million blow to credit.

The Charlotte, North Carolina-based bank reported net income of $1.45 billion for the third quarter and earnings per share of $1.04, which beat analysts' forecast of $0.99 per share.

CEO Chris Gorman applauded what he sees as a transformation of bank regulation since President Trump took office. He described a shift from layers of exams and documentation to a streamlined focus on liquidity, capital and earnings.

Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.

The Buffalo-based bank said Thursday that the paring of its CRE loan book, which has nearly halved in volume over the last three years, may be near its inflection point.

The Bank of New York Mellon had 117 different AI solutions in production at the end of September, Chairman and CEO Robin Vince said. That's up 75% from the second quarter.

Noninterest income at the Minneapolis-based company jumped more than 10% during the third quarter, while asset quality improved and expenses held steady. "Our focus is very much on organic growth," said CEO Gunjan Kedia.