Thursday is shaping up as a momentous day for banking stocks.
The American Banker 225 Index, which measures the market performance of the largest 225 U.S. banking companies, was up over 10% at midday -- it's largest one-day advance.
The banking rally is part of an overall surge in the Dow, which was up more than 400 points at midday.
| Date | % Increase AB Index |
| 3/16/2000 | 10.57% (midday) |
| 3/15/2000 | 8.66 |
| 9/8/1998 | 8.51 |
| 10/15/1998 | 8.02 |
| 9/11/1998 | 7.33 |
Source: American Banker, ILX
The Dallas-based regional bank tapped a client for its copilot capabilities, where employees can message a bot instead of a human to get tech assistance.
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
For the better part of the past decade, the Federal Reserve Board in Washington has played a more active role in presidential searches by regional reserve banks. The shift seems to have made the system more diverse, but some argue it's at the expense of regional bank independence.
Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
