The top five banks and thrifts have a combined first mortgage loan volume of more than $1 trillion.

Industry Bancshares' bond portfolio is massively underwater, and one of its regulators says the company is in "troubled condition." But Industry says it was already working on fixes prior to the OCC's intervention, which it calls an "unfortunate example of regulatory overreach."

The Dallas bank's full-year results showed progress toward its long-term strategic goals despite a fourth-quarter drop-off in net interest income heavily tied to its mortgage business, executives said on an earnings call.

Fourth-quarter net income at the Buffalo, New York, bank fell 37% because of higher funding costs and a special deposit insurance assessment. But lower interest rates and a stronger economy are expected to strengthen profits this year and into 2025, its CFO says.

As part of a settlement with the Justice Department, Patriot Bank must invest more than $1 million of the total in a loan subsidy fund for minority homeowners and take other corrective steps in its everyday business. The bank denied any wrongdoing.

Centra Credit Union in Columbus, Indiana — which completed a merger with NorthPark Community Credit Union this month — has agreed to absorb Hoosier Hills Credit Union. The latest deal would create a $3 billion-asset institution.

The Pittsburgh-based regional bank reported a jump in soured commercial and consumer credits during the fourth quarter. Still, PNC executives said the company is appropriately reserved for a mild recession.

The Seattle bank's stock price fell in 2023 amid concerns over rising interest rates and its concentration of multifamily loans. The buyer is FirstSun Capital Bancorp, which raised $175 million as part of the deal.

The bank agreed to pay an $18 million fine to settle the probe without admitting or denying the SEC's findings. 

Personal spending chugged along in the fourth quarter, thanks to the resilient job market. But loan charge-offs rose, and higher interest rates suppressed loan demand, executives say.