Finance

A Virginia bank's decision to pursue a charter in North Carolina puzzles some observers, given the added complexity and costs.

The Los Angeles bank also benefited from a reduced reliance on costlier certificates of deposit.

The Chicago custody bank also benefited from a recent acquisition of a UBS business in Europe and the lower federal income tax rate.

The company, which completed a major acquisition last year, said tax reform will help it generate a higher return on average assets.

The Alabama bank agreed to buy Peoples Bank for $23 million as part of a plan to target new Southeastern markets.

The Rosemont, Ill., bank rode loan growth, interest rate trends and noninterest-income gains to a double-digit increase in profits in the first quarter.

Profits soared at the Dallas bank as recent interest rate hikes and ongoing expense cuts outweighed weakness in the company’s loan book and in its fee income.

A class action filed last week alleges that Renovate America and Renew Financial failed to provide consumer protections promised to L.A. County, that this constitutes elder abuse, and the county is complicit.

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.

Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's numbers may do little to change their minds.

A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.

Bank’s earnings report notes possible $1 billion in fines; loan-loss accounting rule will be rolled out over three years.

Bank of America Corp. hit a milestone in its years-long effort to get costs under control.

The bank revealed Friday that it is facing hefty regulatory penalties and will likely have to restate first-quarter earnings. Declines in loan balances and fee income and questions about upcoming stress tests are only adding to investors' worries.

The bank, which already offers mortgages through seven offices across North Carolina, is the fourth group to announce plans for a de novo in the state.

The firm warned Friday that it may take a charge of as much as $1 billion to settle a U.S. probe of its consumer business.

Record loan originations and strong growth in wealth assets under management more than offset a double-digit increase in expenses at the San Francisco company.

The Pittsburgh company reported a 39% gain in retail banking profits amid a lot of strong first-quarter numbers, yet it still fell short of analysts' earnings expectations by a penny and wants to push for stronger loan growth.

First Horizon CEO Bryan Jordan said the bank is still on track to meet cost-cutting targets from its November acquisition of Capital Bank in North Carolina.

JPM, PNC, Citi and Wells kick off reporting; Senate banking panel members want to know why so many agency staffers are paid so much.