Industry News
The Birmingham, Alabama, bank said that its deposits fell by $3.3 billion last quarter, and it projected a decrease of up to $2 billion between April and June. Executives assured investors that sizable liquidity sources are available.
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Paying higher rates to customers should help stem deposit outflows at the Salt Lake City bank. But it's expected to contribute to a projected 7% drop in net interest income during the second quarter.
April 20 -
The Tennessee bank confirmed in its earnings report that the deal, already delayed by several months amid heightened regulatory scrutiny, likely would not close by a May 27 deadline. No new target date has been set.
April 18
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The largest U.S. bank by assets raised its forecast for net interest income in 2023 to $81 billion from $74 billion, a positive sign for investors wondering how an economic downturn might weigh on profits.
April 14 -
With the acquisition, the Lake City, Florida-based community bank will nab a consumer-direct platform and expand its footprint in the Midwest.
April 13 -
The city held a community vigil two days after a bank employee opened fire in a downtown branch. One of the speakers was Whitney Austin, a Louisville resident who survived a mass shooting at Fifth Third Bancorp's headquarters in 2018.
April 12 -
Terry Dolan will see his role expand when two senior executives retire this summer, and will then hand over CFO duties to John Stern in September.
April 12 -
The Columbus, Ohio, company expects to record a pretax gain of $57 million from the transaction, which will more than offset the costs of two other recently announced initiatives.
April 11 -
Lexicon Bank's cautious approach to its balance sheet helped it weather the pandemic and avoid some of the mistakes that plagued other failed banks.
April 11 -
Police identified the gunman as Connor Sturgeon, a bank employee who used a rifle to kill four people inside the bank. He was later killed by police, according to the authorities.
April 10
