Retail & Commercial

The hotel, retail and multifamily residential sectors are all showing signs of recovery, which is helping the regional bank. But company executives acknowledged that the firm's relatively large exposure to the office segment figures to pose challenges for some time.

One of the architects of Britain's financial regulation has called for higher capital charges on banks as a "quid pro quo" if the government decides to strengthen deposit guarantees in the wake of Silicon Valley Bank's collapse.

Charles Schwab's underwater securities portfolio has prompted some analysts to lump it together with Silicon Valley Bank. CEO Walt Bettinger says those views are vastly mistaken.

The Connecticut bank joins Zions Bank and Leader Bank in recent upgrades to the technology they use to serve this market – and hopefully snag customers who fled Silicon Valley Bank after its failure.

First-quarter customer deposits dropped to $325.7 billion year over year, Charles Schwab reports, roughly in line with analysts' estimates. They fell 11% since Dec. 31.

The San Francisco bank identified "signs of weakness" and increased its loan loss reserves substantially. Small and midsize banks have significantly larger exposures than Wells does to the office segment, which has been hit by changing work habits.

The Pittsburgh bank grew its deposits in the first quarter, even as the failure of two other regionals sparked outflows across the industry. But PNC executives warned Friday that rising funding costs could continue to eat into its net interest margin.

Regulators had their priorities backward when it came to overseeing SVB and allowed an obvious danger to go unmitigated.

Chase, Wells Fargo both reported increased gain on sale margins in the first quarter over the fourth, a potentially promising indicator for upcoming IMB earnings.

Revenue from fixed-income, currencies and commodities trading unexpectedly rose 4% to $4.5 billion in the first quarter, as clients reacted to changing interest rates, the company says. Net income rose 7% to $4.6 billion.