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JPMorgan Chase said revenue fell 6.4%, driven by a slump in trading and mortgage banking.
October 13 -
Banks are going to keep cranking out loans at a brisk pace for the foreseeable future, according to the heads of three Chicago-area banks. That could spell trouble if the competition leads to reckless credit decisions.
September 9 -
PrivateBancorp, despite having one of banking's most rate-sensitive loan books, has grown earnings by relying on fee diversification and new specialty lines. CEO Larry Richman discusses the growth strategy and what he expects when rates do finally rise.
March 6
PrivateBancorp in Chicago reported higher third-quarter profit on loan growth.
The $16.9 billion-asset company's
Net interest income increased 12% to $131.2 million as total loans rose 13% to $13.1 billion. The net interest margin remained unchanged at 3.23%.
Noninterest income rose 0.4% to $30.8 million, as higher treasury management volume and mortgage banking was offset by lower syndication fees.
Noninterest expense grew 9.4% to $85.2 million. The increase was due to a 7.8% increase in salaries and employee benefits as well as other expenses. PrivateBancorp’s efficiency ratio compressed by 30 basis points to 52.21%.
