PORTLAND, Ore. - U.S. Bancorp has projected a reduction in nonperforming assets in the fourth quarter, after selling $70 million of nonperforming highly leveraged loans in the third quarter.
Nonperformers fell to $335 million from $425 million at midyear. The ratio of nonperforming assets to loans and other real estate owned fell to 2.41% from 2.83%.
U.S. Bancorp earned $41.6 million in the 1992 third quarter, compared with $51.4 million a year earlier.
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks, with survey respondents expressing heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
The Dallas-based regional bank tapped a client for its co-pilot 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.
