Profits fell 42% at the Birmingham, Ala., bank because of a $121 million tax charge in the fourth quarter, but net interest income and noninterest income each rose 14%, softening the blow of the one-time tax hit.
House and Senate bills contain a provision that would let financial firms in all states use digital scans of photo IDs to verify identities of prospective customers. That could ease the account-opening process for consumers in areas where branches are few and far between.
The regional bank’s first-year CEO is doing some expected things, like offering more products through digital channels, and making a few surprising moves, like inviting all credit card customers to switch to lower-rate loans.
When Apple or Google releases a new version of its operating system, banks are forced to respond by updating their mobile apps—running just to stay in place. Next month's release from Apple is especially challenging.