Retail & Commercial

CEO Gary Crosby believes new technology will help the Buffalo, N.Y., company generate revenue more in line with being a large financial institution. But his $250 million investment pledge didn't sit well with investors who were hoping for cost-cutting.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Cathay General Bancorp (CATY) of Los Angeles reported earnings of $31.9 million for the fourth quarter of 2013, an increase of 12.7% from the same quarter a year prior.

State Street Corp., the third- largest custody bank, reported operating earnings that missed analysts' estimates as expenses rose faster than revenue. The shares fell by the most in a year.

The sale represents roughly 73% of the private student loans held by First Marblehead's bank, Union Federal, according to the company's Thursday regulatory filing. Union Federal will receive 103.5% of principal in the deal.

California-based SVB Financial Group (SIVB) announced earnings Thursday of $58.8 million for the fourth quarter of 2013, a 16.7% increase from the same quarter in 2012.

KeyCorp may ultimately need to buy some niche business lines, or sell its operations in some fringe markets, to cure its efficiency woes.

Richard Davis, the head of U.S. Bancorp, criticized other banks that, he says, are overly dependent on releases of loan-loss reserves to boost earnings.

JPMorgan Chase & Co. (JPM) gave Chief Executive Officer Jamie Dimon a 74 percent raise to $20 million last year, bringing his pay closer to where it stood before the board faulted his oversight of botched derivatives bets.

Wells Fargo & Co. (WFC), the largest U.S. home lender, agreed to sell more than 40 percent of its insurance brokerage locations to focus bricks-and-mortar operations on higher-growth regions and bigger clients.