Commercial banking

The move comes after rivals Bank of America and Goldman Sachs Group cut CEO pay, while JPMorgan Chase and Wells Fargo left theirs unchanged.

JPMorgan Chase, Morgan Stanley and Bank of America threatened to leave climate group NZBA late last year if limits on their fossil-fuel activities were imposed, concerned that they would be legally bound, according to people familiar with the process.

Federal Reserve Gov. Michelle Bowman told a group of Tennessee bankers that the review is warranted but says many banks already have plenty of capital. She also touched on ESG, transparency and central bank digital currencies.

The bank was one of the last major holdouts to bow to expense pressures that have left no one immune.

Domestic banks borrowed $7.2 billion from the short-term lending facility in the third quarter of 2022, the highest level in almost two years. Banks with assets of $3 billion or less drove the increase.

Two proposals by Democratic state senators would force companies doing business in the Golden State to report greenhouse gas emissions and disclose climate-related financial risks. The banking trade group opposed similar efforts two years ago.

The agency needs to demonstrate the moral courage necessary to break up unmanageably large banks.

The top five have just under three billion dollars in noninterest income as of September 30, 2022.

Truist Financial eliminated about 5% of its investment banking division amid uncertainty surrounding the dealmaking environment, according to people with knowledge with the matter.

One of Germany's greenest banks has quit the world's biggest climate-finance alliance in protest, citing concerns that Wall Street is preventing the group from achieving its stated goal.

Deutsche Bank is preparing further job cuts to keep costs in check, with the focus likely to be areas outside the trading unit.

The Nebraska Bankers Association says legislation to prevent the state treasurer from depositing public funds in banks that would use them to fund environmental or social causes is "too vague."

The Rosemont, Illinois-based bank said its longtime CEO Ed Wehmer will retire from the post in May and become executive chairman. Timothy Crane, who joined Wintrust in 2008 and became its president in 2020, will take over the top job.

The loan-growth projections are for Columbia Banking System itself, before the Tacoma, Washington, bank officially merges with Umpqua Holdings. The $5 billion deal is scheduled to close Feb. 28.

The company settled with the Federal Reserve after self-reporting that it had disbursed $1.1 million in wrongfully obtained Paycheck Protection Program loans.

Six Wall Street banks are being pressed by a group of shareholders to move faster on reducing their financing of fossil fuels to meet global climate goals.

Unrelenting pressure to improve efficiency could keep bank merger activity steady or even accelerate it despite several economic and regulatory factors except for one — credit quality, say two veteran Piper Sandler dealmakers.

The parent company of Silicon Valley Bank, which has been mired in deposit challenges, expects little near-term change in the deployment of venture capital dollars, which executives say will keep putting pressure on SVB's balance sheet.

The top five community banks averaged a return on average equity of 134.96 as of September 30, 2022.

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