Texas

The former president of a Texas community bank was sentenced to two years in federal prison for manipulating the bank's books and embezzling money to pay her daughter's sorority dues.

Chargeoffs jumped 13% at the Dallas lender, and its warning that they could increase further because of deterioration in subprime auto lending set off alarm bells about the broader consumer finance market.

Prosperity Bancshares in Houston reported a 4.23% dip in fourth-quarter profit on lower levels of loan discount accretion.

Bank executives have faced relentless questions about their energy-sector exposure during fourth-quarter earnings calls this month, as oil has bobbed above and below $30 a barrel. They are taking more drastic actions to contain losses, but it still might not be enough.

The energy sector downturn took a big bite out of quarterly earnings at Cullen/Frost Bankers in San Antonio.

Santander Consumer USA Holdings on Wednesday reported a sharp drop in profits, due to losses tied to its exit from personal lending.

Independent Bank Group in McKinney, Texas, has exited the Small Business Lending Fund program.

KeyCorp believes it can surpass cost-cutting projections tied to its purchase of First Niagara Financial, while BB&T believes market duress could present it with more acquisition opportunities.

Texas Capital Bancshares in Dallas reported lower quarterly profit that largely reflected an increased provision for energy loan losses.

Management has also been allocating more resources to other markets to add loans and boost fee income in businesses such as card services and wealth management. Such moves are designed to offset fallout from an energy book that shrunk by 14% last year.