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While not committing to any specific strategy, the card network may find opportunity in the merger and acquisition market, CEO Al Kelly said.
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The San Antonio bank reported an 89% spike in net income, aided by rising interest rates and the company's expansion into Dallas and Houston.
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The company formerly known as Alliance Data Systems produced strong fourth-quarter sales, but was unable to report a profit due to factors such larger loan-loss reserves for its acquisition of the American Automobile Association's credit card portfolio.
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North Carolina-based First Citizens blamed a rise in problem credit on certain office loans that it acquired in the CIT Group merger. Connecticut-based Webster also expressed caution about the segment, which has been impacted by remote work policies.
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As deposits grow scarcer, the Stamford, Connecticut-based bank's acquisition of interLINK earlier this month promises to yield billions of dollars in core funding it can put to work paying down borrowings or purchasing securities, CEO John Ciulla says.
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The company will also slow investments in new products this year as it copes with economic uncertainty.
