Retail & Commercial

First-quarter results at the companies were promising for other banks looking to reel in fees from capital markets activities as deposit costs put pressure on net interest income.

Home loan originations were tepid in the first quarter, but higher margins helped large depositories bolster income even when the drop was particularly steep.

KeyBank receives "outstanding" rating from the Office of the Comptroller of the Currency on its most recent Community Reinvestment Act exam; Georgia Bankers Association's board elects a new incoming president and CEO; BNY Mellon hires a former GEICO executive; and more in this week's banking news roundup.

Citigroup's earnings topped analysts' estimates as corporations tapped markets for financing and consumers leaned on credit cards.

The company reported net interest income that slightly missed analyst estimates, a sign the benefit of higher interest rates may be waning amid pressure to pay out more to depositors. Costs rose on higher compensation and an FDIC assessment.

The company missed estimates for net interest income in the first quarter, a sign that muted loan growth and increased pressure to pay out more for deposits are eating into the benefit of higher rates. 

New York Community Bancorp took a massive loan-loss provision and slashed its dividend to meet tougher capital and liquidity requirements after rocketing by that asset mark. A half dozen regionals face tough questions about whether they're better prepared than NYCB, which had to be rescued.

Launched last July, FedNow had enrolled more than 600 participants by mid-March, according to government officials. That marked a 100% increase from the start of the year, with more banks and credit unions viewing fast payments capabilities as essential. Fraud concerns linger, however.

Mortgage rates rose this week as investors priced stronger than expected inflation and jobs affecting Fed moves into the 10-year Treasury.

Instead of painting unionization as a barrier to business success, we should consider it an opportunity to rebuild trust, integrity and responsibility within the banking sector.