Finance

Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.

The Bethesda, Maryland, company projects increases in loans and deposits as its C&I lending strategy gears up. Criticized and past-due loans appear to be declining even with a jump in nonperforming assets.

The Virginia-based bank said the Federal Reserve signed off on its acquisition of Sandy Spring Bancorp in Maryland. The transaction was the third-largest bank deal announced in 2024. It could be finalized as soon as April.

The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."

Mercantile Bank Corp. in Grand Rapids achieved a 20% increase in deposits in 2024, an amount that was ample enough to fund robust loan growth and scale back reliance on costlier wholesale funding.

The Dallas-based company expects average loan growth to be flat to up 1% from 2024, driven by the ongoing payoffs of commercial real estate loans, executives said.

Hester Peirce and SEC Acting Chair Mark Uyeda say they want to group to devise a clear compliance framework for digital assets and end regulation by enforcement.

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."

The Cincinnati, Ohio-based is content with its organic growth, focusing on new branches as its Southeast deposits reach $33 billion.

Toronto-Dominion Bank is looking to adjust its balance sheet to comply with a new cap imposed by U.S. regulators, part of a plea agreement reached last year for its role in failing to prevent money laundering.

A power outage and hardware failure at fintech FIS last week delayed deposits and payments at 27 banks, including Capital One.

The Cleveland-based parent company of KeyBank is forecasting net interest income growth of about 20% for 2025, even as it predicts that average loan balances will decline by low-to mid-single digits year-over- year.

The Indiana-based company grew fourth-quarter loans and profits in part because of an acquisition in Nashville, and it expects to bulk up further with a deal in Minnesota's Twin Cities that was among the largest announced in 2024.

Full-year revenue growth was 4%, surpassing the 3% to 3.5% guidance the firm gave in December. Charles Schwab expects revenue to increase by 13% to 15% this year.

The Providence, Rhode Island-based company launched its private bank in 2023 after a spate of bank failures left holes in the market. "It's not like I'm asking anybody to wait for delayed gratification," CEO Bruce Van Saun said Friday.

The Columbus, Ohio-based bank's profit more than doubled in the fourth quarter from a year ago, with solid growth in loans and deposits.

Commoditization of mortgages, plus technology that eases the refinance process, and the regulatory environment, all contributed to the decision.

The Alabama-based regional bank reported stronger earnings on a bump in capital markets fee revenue and lower expenses, but its total loans declined and its charge-offs increased. It expects only modest loan growth this year.

The super-regional bank plans to invest in talent, technology and certain locations in 2025, while keeping its expenses in check, to achieve the promise of the merger that created it, CEO Bill Rogers said.

The Connecticut-based bank outpaced the industry's muted loan growth last year. CEO John Ciulla said he expects further growth, citing business clients' "decidedly positive" bias.