Bank stocks had an off day Wednesday, following Tuesday's gain of more
The bank index retreated 1.01%, the Standard & Poor's 500 dropped 0.58%,
Analysts said a relatively weak bond market and profit taking accounted
BankAmerica Corp. shares fell $1.125 to close at $76.375. NationsBank
Fifth Third Bancorp was one of the few gainers, rising $1.187 to
Barnett Banks Inc. stock rose 75 cents to $63.75, and State Street
The top five banks and thrifts have combined total assets of nearly $13 trillion.
Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate.
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
A new Citizens Bank survey suggests rising check-fraud incidents are driving middle-market companies to accelerate plans to fully adopt digital payments. But 70% of all businesses will continue to rely on checks for years to come, according to recent data from the Association for Financial Professionals.
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
