Finance

Andy Cecere is the new CEO-in-waiting at the Minneapolis bank, but interest in his future plans took a back seat as investors and others tried to get their heads around why the current boss, Richard Davis, is choosing to leave seven years before the typical retirement age.

The company has been producing solid loan growth in recent quarters.�@9@e

Northern Trust’s fourth-quarter profit surged due to higher trust fees, improved credit quality and the benefit accrued to its profit margin from an increase in short-term interest rates.

Commerce Bancshares in Kansas City, Mo., reported higher quarterly results that reflected great credit quality.

The Minneapolis company reported gains in lending and fee income, but merit-pay increases and compliance-related spending contributed to higher noninterest expenses.

About $12 million of the proceeds will go toward exiting the Small Business Lending Fund.

Citigroup reported fourth-quarter profit that surpassed analysts’ estimates as trading revenue jumped 31%, more than the bank had forecast last month.

FIS is forming a network for the inaugural class of its VC Fintech Accelerator program.

Three midsize banks projected increases in loans this year in the latest round of earnings discussions, but their levels of optimism varied, and their commercial lending strategies in some cases conflicted.

Higher lending for mortgages, construction and commercial real estate boosted Fulton Financial's profit.

The Michigan company expects a recently announced mortgage initiative to produce solid growth in 2017.

WESTconsin CU and UT FCU have selected Member Experience, which uses Net Promoter Score methodology to improve members’ experiences and drive growth.

The U.S. Supreme Court turned away an appeal by Bank of America, Citigroup and JPMorgan Chase, refusing to stop antitrust lawsuits that accuse some of the world’s largest banks of conspiring to rig Libor.

Letgo, an online marketplace for buying and selling used goods, said it raised $175 million to invest in growth plans and grab market share from EBay Inc. and Craigslist.

Asset quality remained solid as the Little Rock company improved loan-to-deposit, efficiency ratios last quarter following two major bank acquisitions.

Improved credit quality also helped compensate for flat loan growth at the Dallas bank.

The Columbus, Ga., bank reported higher fourth-quarter profit on growth in business loans and mortgage banking.

Wells Fargo faces an economic environment that may not be particularly suited for the way the bank is structured. Also: are you brave enough to make bitcoin a part of your retirement portfolio?

The San Francisco bank said Friday that it plans to close at least 400 branches over the next two years, part of an effort to reduce annual expenses by $2 billion.

JPMorgan Chase, Bank of America and PNC reported lackluster revenue growth as higher trading fees and increases in commercial lending barely compensated for consumer-side challenges.