Commercial banking

Both loans and deposit balances have stabilized since the North Carolina bank acquired parts of the failed Silicon Valley Bank, paving the way for better-than-expected fourth-quarter earnings guidance. The only blemish in the third quarter, one analyst said, was credit quality.

Weekly volume — even with the M&T deal — is poised to be one of the largest misses this year, second only to the week of March 13 when Silicon Valley Bank's failure spooked the banking sector.

The Hicksville, New York, company beat analysts' expectations on net interest income, but a pair of souring office loans contributed to a 68% increase in nonperforming loans from the prior quarter.

As Chief Executive Officer Christian Sewing doubles down to lower expenses and increase profitability, a new round of cuts is expected to exceed the 800 announced in April.

Speaking on a panel at the Future Investment Initiative summit in Riyadh, Saudi Arabia, the JPMorgan Chase chief voiced doubts that central banks and governments around the world could manage the economic fallout from rising inflation and slowing global growth.

The $49 billion-asset bank loaded up on deposits in the third quarter, making sure it has enough on hand to fund the loan growth it has forecast for the coming quarters.

The move shows Texas governments, major issuers of municipal bonds, are wary of working with banks that state Attorney General Ken Paxton put under review last week in connection with their climate change policies.

The top five banks and thrifts have combined total deposits of nearly $7.5 trillion.

Texas Attorney General Ken Paxton's office said it's reviewing whether 10 financial companies, including Bank of America and JPMorgan Chase, violate a state law that punishes firms for restricting their work with the oil-and-gas industry because of climate-change concerns.

The nation's second-largest bank reported strong growth in net interest income, revenue and profits. But analysts continued to express concern about unrealized losses, which swelled to $131.6 billion.