Retail & Commercial

Bank of America continues to spend on its people and is looking to add more investment bankers even as inflation pushes expenses higher, Chief Financial Officer Alastair Borthwick said.

From avocado-toast debit cards to pumpkin spice-themed loans, financial institutions are running culinary initiatives to bring consumers to the table.

BayFirst Financial Corp. said it initiated the process of shuttering its out-of-state network of residential mortgage loan production offices.

Executives from three of the largest U.S. banks declined to pledge to eliminate overdraft fees when asked if they would do away with them.

Wall Street banks are poised to realize roughly $600 million of losses after offloading financing commitments for the buyout of Citrix Systems to investors Tuesday, the culmination of months of work to try and mitigate the damage from underwriting pledges made early in the year before a sharp repricing of risk assets.

The number of U.S. banks has dropped by two-thirds since the mid-1980s. Everyone expects this trend to continue for the foreseeable future. But at what point does M&A cool?

The changes, which follow similar moves by other large banks, occur as Bank of the West seeks to close a $16.3 billion merger with BMO Harris Bank.

The country's largest banks should deepen partnerships with minority depository institutions and community development financial institutions, and regulators should facilitate that process.

The buyer said it would pay $140 million in cash and stock to acquire Citizens Bancshares. It would gain about $1 billion of assets in and around Missouri's largest city.

So far this year, banks have reported that borrowers continue to repay their loans and delinquency rates remain low. But there are signs that this may change.