Retail & Commercial

The Buffalo, New York-based bank said its commercial real estate portfolio continued to shrink, but this was more than offset by business and consumer lending.

The Cleveland-based bank took a hit from a large bond sale, leading to a quarterly loss. But net interest income rose, and the company expects that metric to hit a key milestone in the fourth quarter.

The Federal Deposit Insurance Corp. projected its Deposit Insurance Fund reserve ratio is expected to reach the statutory minimum of 1.35% by 2026 thanks to slower-than-expected insured deposit growth and a $7.5 billion increase in the DIF balance.

There is a tendency to assume that banks carrying a large commercial real estate loan portfolio need to diversify. But that ignores the fact that many of those institutions have much deeper knowledge of the market than their critics.

After NYCB streamlined its branch operations under the Flagstar name, the publicly traded company will begin trading under a new stock ticker symbol in late October.

The New York-based investment bank reported higher revenues across all business lines, with double-digit increases in wealth management and investment banking.

The regional bank's earnings were impacted by challenges in its office loan portfolio, though its overall results were a mixed bag, with its nascent private bank showing momentum.

Purchases on the company's credit cards fell 4% as some customers traded down to cheaper goods or skipped discretionary spending. But CEO Brian Doubles said consumers remain in "pretty good shape" as they manage their budgets.

As financial fraud becomes more and more sophisticated, banks need to get proactive about protecting their customers from scammers. This is particularly true of seniors, whose deposits are a key source of banks' core deposits.

The top five banks and thrifts had combined assets of more than $13 trillion as of June 30, 2024.