Banking

CEO Bill Rogers stopped short of confirming or denying speculation that the bank is seeking a buyer for part of the unit.

Cleveland-based KeyCorp posts a subdued profit in the wake of a loan loss provision that was more than six times greater than the level of fourth-quarter net charge-offs.

The company, which interprets foreign credit bureau data, is opening its first outpost outside of the U.S.

The $104 million-asset Finex Credit Union in East Hartford plans to partner with the $52 million-asset First Connecticut Credit Union in Wallingford.

The Buffalo, New York, bank expects outstanding loans to grow by as much as 9% in 2023. Deposits, on the other hand, could fall.

The Dallas-based bank, whose deposit base is more commercial-focused, has seen significant outflows in deposits over the past year. But last quarter's declines were "better than we expected," and there are other signs that the environment may moderate this year, its CFO said.

The Texas bank will let customers go through the entire process on their phones, at the same time that it emphasizes human service that is not impacted by commissions.

The top five have combined portfolios of first mortgages of more than $900 million as of September 30, 2022.

The Canadian banking giant also announced that Nandita Bakhshi, the San Francisco bank's CEO, will join the board of directors of its U.S. holding company and serve as a special advisor on integration.

Many bank CEOs see the end of work from home coming soon, but other industry leaders are not so sure. Meanwhile, much empty office space lies waiting in limbo.

The state of Colorado has reached a $4 million settlement with Canvas Credit Union and Bellco Credit Union after the companies were accused of failing to pay refunds of guaranteed automobile protection fees due to borrowers.

The Pittsburgh bank posted a solid profit and said that it expects continued loan growth. But the pace of business expansion could slow alongside an economic downturn.

The Mississippi bank said it fell short of funding its loans with deposits in the fourth quarter of 2022. This year, it plans to narrow its focus to core relationship lending.

The digital bank for small businesses is partnering with the financial software company Ramp to help its customers apply for corporate cards and access expense management and bill pay software.

Citigroup is raising compensation for its junior investment bankers by as much as 15% even as many Wall Street peers are cutting jobs and slashing bonuses after last year's industrywide deals slump.

Community bankers already have decades of experience managing concentration risks and responding to extreme weather events and natural disasters in their communities.

CEO Bruce Van Saun said that any potential recession will likely be "subdued," as the Rhode Island bank projected a rebound in noninterest income.

Goldman Sachs provided more details on its pullback from its once-grand ambitions to expand into consumer finance. Though parts of that strategy will remain, the New York bank will halt its personal loan business and postpone offering a checking account for its wealth management customers.

The New York bank reported a 17% drop-off in deposits during the fourth quarter as it sought to reduce its concentration in the digital currency realm. It expects its balance sheet to stabilize in the second half of 2023.

Rising deposit costs and the likelihood of a slowdown in loan growth could stifle earnings, credit union executives say.