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Regions Financial in Birmingham, Ala., reported higher quarterly profit on stronger fee income.
July 21 -
Zions Bancorp. on Monday reported improvement in its net interest margin and noninterest revenue, along with progress in regards to the Volcker Rule and its funding mix. But at Zions, as at other banks, progress was overshadowed by concerns over falling oil prices.
January 27 -
John Hairston, set to become the Mississippi company's sole CEO, said Carl Chaney was not forced out as co-CEO. Still, he said the departure allows Hancock to streamline operations and become more efficient.
November 17
Hancock Holding in Gulfport, Miss., reported lower second-quarter profit, citing higher incentive pay for employees and lower yields on both loans and securities.
The $21.5 billion-asset company's net income fell 13% to $34.8 million, or 44 cents per share, from a year earlier.
Net interest income fell 8% to $151.8 million The average earning assets yield narrowed 63 basis points to 3.58%. The net interest margin shrank 69 basis points to 3.30%.
Total loans rose 11% to $14.3 billion. Hancock said the loan growth came from multiple geographic markets and from indirect auto and mortgage loans and specialty finance.
Energy loans comprise about 12% of Hancock's total loan portfolio. Hancock increased its reserves by $10.6 million to account for pressure on energy-industry borrowers because of low oil and gas prices.
Fee income rose 8% to $60.9 million. Better performance from secondary mortgage market operations and higher insurance commissions and fees offset a drop in service charges on deposit accounts.
Noninterest expense rose 4% to $150 million on higher salaries and occupancy costs. The efficiency ratio worsened by 500 basis points to 66.67%.
