Growth strategies

Liberty Bank and Texas Capital Bank are among those trying to attract new online-only customers while experimenting with technologies to benefit the institutions overall.

Citigroup said profitability will fall as the bank pursues a strategy shift that it said will raise expenses in the near term.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

Citigroup has been pulling back retail operations from broad swaths of the globe, but its commercial banking business is finding new regions for expansion.

The Silicon Valley fintech expects to make $1.5 billion in auto loans this year after implementing key elements needed to achieve scale, said CEO David Girouard. The expansion comes as the automotive market continues to boom.

Deutsche Bank promoted Charlie Burrows to oversee the expansion of the bank’s wealth management unit across the southeastern U.S., as the German lender builds out its business of catering to the ultrarich.

This elite group of young wirehouse and regional employee representatives collectively generate more than $200 million in annual revenue.

Bank of America revamped leadership across its wealth management business, placing more responsibilities on current heads Andy Sieg and Katy Knox.

The Tennessee bank reported an uptick in commercial lending during the fourth quarter. Executives pointed to the impact of a 2020 acquisition that allowed First Horizon to bulk up in in Florida, Georgia and Louisiana.