Finance

The New York bank, which reported a 25% increase in third-quarter earnings Thursday, recently began serving digital-asset companies and private equity firms.

Commercial and industrial lending rose 8% in the third quarter at the Cleveland bank, but other factors drove its double-digit gain in profits as overall loan growth was modest.

The Connecticut company also reported modest loan growth and a greatly improved net interest margin.

The company will pay $42 million for Oak Park River Forest Bancshares.

Banks ask Congress for help with a rule that forces them to estimate loan losses; The network will allow banks to "exchange and verify trade information."

The $286.4 million deal is an important test for Upgrade, which has raised $142 million of equity over the past two years but has yet to turn a profit.

The Portland, Ore, company also benefited from lower expenses and an improved efficiency ratio.

Banks should work to shield some customers who may otherwise be flagged or blocked by AI-powered safeguards, and consider using alternative data to expand services to the underbanked.

Executives are reluctant to pull back on their big investments in technology, arguing they must stay competitive and that they have flexibility in other areas to trim costs if growth begins to stagnate.

Bigger banks appear to be losing C&I share to small and midsize lenders. That's raising questions about whether community banks — known more for commercial real estate lending — have enough expertise to underwrite deals that larger banks avoid.

Total loans fell, but earnings soared thanks to wider margins, a smaller loan provision and fewer legal costs now that the Wilmington Trust probe is settled.

The Minneapolis company, which reported strong profits but 1% loan growth, is hiring middle-market bankers in New York and launching a digital lending platform aimed at small businesses.

The custody bank’s linked-quarter net income dipped due to a decline in earning assets and lower transaction volumes.

Main Street and Wall Street banks show strong earnings gains over last year; the president calls the Fed’s rate raising policies “my biggest threat.”

Many bankers say the agency needs to rethink its definition of brokered deposits and how it sets interest rate caps.

Earnings at the holding company for First Tennessee Bank beat expectations even after excluding those one-time factors.

The Dallas company reported a 41% increase in 3Q earnings despite lackluster performances in lending, deposits and fee income.

A definition would give lenders a clearer idea of what practices are off limits; the mutual fund giant will provide the service for institutional clients.

In hundreds of cases, the prepaid card program run by the bank allegedly sent users’ funds to fraudsters who had stolen their data. The security lapse has now caught the attention of the Democratic senator.

Bank of America is showing more interest in commercial real estate lending while other lenders are pulling back, executives said. But they also said that they learned their lesson from the financial crisis and will proceed cautiously.