Commercial banking

BofA is taking the next step toward a 7-year-old goal of paying $25 an hour by 2025.

The Dallas company, which has been in transformation mode for three years, recently took a series of actions to try to meet the profitability targets it set for itself.

After hikes pinched profits across the industry, a move in the opposite direction could be the start of a more promising trend. But bankers caution that the immediate effects of a September rate cut figure to be small.

Prophecies about a wave of bank failures caused by sickly CRE loans haven't yet come true. But there are still plenty of caution signs in a saga that will take years to play out.

Canadian Imperial Bank of Commerce is planning its second executive shuffle in six months, which the CEO says is part of its routine talent-management process.

The top five banks in this list closed a net total of 148 branches in this time period — and 492 branches in the past 12 months.

Trimont CEO Bill Sexton acknowledges that a "daunting" volume of commercial real estate loans need to be refinanced in the next few years. But he says nonbank lenders are well equipped to provide financing that will allow troubled buildings to be reimagined.

Canadian Imperial Bank of Commerce and Royal Bank of Canada both set aside much less money than expected last quarter to cover loan losses.

The average salary for these top compensated bank executives is more than $21 million.

The top five have more than $1.3 trillion in mortgage backed securities as of March 31.