Retail & Commercial

The high-flying sector is primed for a correction, industry leaders said this week. Declining credit standards are one of the top concerns.

Hampton Roads Bankshares in Virginia Beach, Va., plans to merge its banks and change its name to Shore Financial.

Citigroup faced many of the same earnings headwinds as other large banks — lower revenue and lending — but still surprised observers with a strong first quarter Thursday. Its North American consumer business was a big reason why.

Webster Financial in Waterbury, Conn., reported lower first-quarter profit as costs from adding personnel and an acquisition weighed on results.

The automated-teller-machine maker announced new software that it estimates can save up to 40% annually on ATM costs by reducing the agony of updating each box individually. The product targets the many banks that still need to upgrade their ATM fleets to Windows 7.

Low-income borrowers are responsible for much of the recent surge in student loan defaults and delinquencies, according to new research by the Federal Reserve Bank of New York.

Wintrust Financial in Rosemont, Ill., reported first-quarter earnings of $39.1 million, up 13% from a year earlier, as loans increased and mortgage revenue rose.

Home BancShares in Conway, Ark., reported higher first-quarter profit and assets after it acquired branches and loans from the failed Doral Bank in Puerto Rico.

PacWest Bancorp reported higher quarterly profit, as loan growth and lower expenses offset credit issues in the Los Angeles company's energy portfolio.

BBVA has acquired San Francisco user-experience firm Spring Studio, in a bid to improve the look and feel of its digital banking services.