Retail & Commercial

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The island state's biggest banks — which reported lower profits in the third quarter — say it is too soon to fully assess the economic fallout from the deadly August wildfires. The rebuilding effort could boost near-term deposit growth and long-term loan demand, they said.

Customers cite a large mix of reasons for why they do or do not trust specific financial institutions.

As the holiday shopping season approaches, late payments on credit cards have surpassed their pre-pandemic levels, according to a new VantageScore report. The consumers showing signs of deterioration include not only subprime borrowers, but also those with prime credit scores.

A $35 million capital bump from a once-hostile investor group may have helped the Philadelphia bank avoid collapse. Still, it reported $30 million of quarterly operating losses and heavy securities risk in a recently filed call report.

Amid intense regulatory scrutiny, market volatility and economic uncertainty, 10 bank M&A deals have been scrubbed so far this year after 13 were scuttled last year. Deal activity has risen slightly lately, but the new normal is hard to gauge.

In a pilot it rolled out this year, Nashville-based Vanderbilt Credit Union will lend graduates up to $160,000 if they have a job offer sheet in hand.

In October's roundup of top banking news: Navy Federal's contract with the Department of Defense remains in limbo, check fraud takes a bite out of Regions Financial's third-quarter earnings, a Community Reinvestment Act rule gets finalized and more.

Neglect of the employees who personally interact with customers can undermine even the most carefully crafted business strategy.

The San Antonio bank reported a 14% increase in noninterest expenses and a 7% jump in loans. "We're not trying to be successful by shrinking," said CEO Phil Green.