Provident Bankshares Corp. of Baltimore said Thursday that its second-quarter net income fell 22.5%, to $15.5 million, from a year earlier. Related Links
The $6.3 billion-asset Provident blamed a $3.5 million commercial business loan that was charged off during the quarter. It also cited a 7.5% drop in net interest income, to $48.5 million, and the flat yield curve.
Its loans rose 4.5%, to $3.9 billion, and deposits rose 1%, to $4.2 billion.Luke Mullins
The Office of the Comptroller of the Currency issued a final rule saying that federal law trumps state mandates on interest in escrow accounts for national banks, wading into an ongoing court battle.
The Mortgage Bankers Association now predicts a Federal Reserve rate hike to arrive in 2027, as housing price growth also slows over the next two years.
An analysis of American Banker's 2026 Best Places to Work in Fintech finds that workers appreciate flexibility, as well as "meaningful" work.
The company says its mission-driven culture, family-supporting benefits and emphasis on flexibility are key factors.
The 33 companies that made it to this year's Best Places to Work in Fintech list are actively preserving remote work options and non-salary benefit packages.
Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
