Banking

The Wilmington, North Carolina, company reported a breakout quarter for loan production, but profits fell as an increase in nonperforming loans led to higher provisioning.

The Southern California company beat analysts' expectations, partly by steadily paying less for deposits, as it navigates a classic net interest margin pickle.

The Consumer Financial Protection Bureau said Goldman Sachs failed to investigate tens of thousands of disputes, while Apple misled iPhone purchasers about interest-free payment options. The two companies were ordered to pay $89 million.

Y-12 Federal Credit Union in Oak Ridge, Tennessee, said it would acquire First State Bank of the Southeast in Middlesboro, Kentucky. It was the 19th such deal announced this year.

Government, private companies and civil society must continue pushing the kinds of partnerships that put mobile financial technology into the hands of marginalized people around the world.

John "Johnny" Allison, the outspoken chairman and CEO of Arkansas-based Home BancShares, used the company's third-quarter earnings call to endorse the Republican presidential nominee. When asked about that decision, he got confrontational.

The community bank CEO and Most Powerful Women to Watch honoree sits for an exit interview on what bankers face as her term running the American Bankers Association ends.

As new hires generate low-cost deposits and higher-yielding business loans, the New York company's net interest margin is widening. Dime executives signaled the hiring will resume in 2025.

Other acquisitive executives, however, say that interest rate cuts have hastened already-active deal discussions, as more banks seek scale and business line diversity.

The top five banks on this list have combined deposits of nearly $7.5 trillion.

Openbank, which has operated in parts of Europe for years, should help the Spanish bank to fund its U.S. auto lending business, executives said.

The merged company's footprint would cover what Atlantic Union CEO John Asbury has called the golden crescent, stretching from Baltimore south to Hampton Roads.

The Office of the Comptroller of the Currency is referring the issue to the Department of Justice. The failure of the $107.8 million bank will also cost the Deposit Insurance Fund an estimated $43 million.

The Detroit company's charge-offs on consumer auto loans rose sharply last quarter. Its CEO said he's confident losses will decline, but the next few quarters "will be choppy."

The Arkansas bank said CRE is no longer its principal growth driver, yet it is still the bank's most prominent business and a big part of its robust lending activity.

Executives at the Alabama-based bank said the aftermath of Nov. 5 will hopefully provide a sense of certainty that coaxes companies into jump-starting their strategic plans.

Though still feeling the effects of margin compression, the Columbus, Ohio-based company reported solid growth in loans and fee income and is projecting record spread income next year.

The Dallas bank has spent the last three years building itself into a new company. Now, it has to prove the investments will pay off.

The North Carolina-based company expects its revenue to outpace expenses next year — a goal that has proven elusive over the five years of Truist's existence.

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.