Commercial banking

The parent company of Flagstar Bank reported a net loss of $323 million for the second quarter after boosting loan-loss provisions and recording a steep increase in net charge-offs. Still, it says it's making progress on a turnaround plan, including by agreeing to the sale of its mortgage servicing business.

The $72.8 billion-asset bank lowered its guidance for net interest income, explaining that while business prospects on the island are relatively rosy, its stateside opportunities for loan growth look weaker.

The embattled Long Island-based bank announced the hiring of nine new senior executives. Most of them have ties to CEO Joseph Otting, who previously held the top job at the OCC and OneWest Bank.

The Northeast regional bank missed expectations on net interest income and negatively revised much of its 2024 guidance.

The Oklahoma-based bank also struck an upbeat tone on economic conditions and credit quality after it reported a sharp quarter-over-quarter increase in net income.

Arrested four times for blocking the entrance to Citigroup, a veteran climate protester wonders why more rank-and-file bankers don't make common cause with activists trying to prevent the funding of fossil fuel development.

When the superregional bank sold its insurance business for $10.1 billion, it laid out three ways to use the proceeds: buybacks, a balance sheet repositioning and loan growth. The latter plan is so far proving to be elusive.

Bank OZK is the latest commercial real estate-heavy bank to announce plans to diversify its business. CEO George Gleason emphasized that he's confident in the bank's loan portfolio, but said he thinks misperceptions are dragging down the stock price.

The Alabama-based bank also said that its outlook for net interest income is brightening. Several other regional banks have offered similarly upbeat guidance in recent days.

Indirect auto loan originations at the Ohio-based bank rose by 31% from the first quarter. Huntington sees the business as an opportunity at a time when numerous other banks have been pulling back.