Investment gains helped M&T Bank Corp. in Buffalo, N.Y., record a spike in quarterly profits.

Bank of America (BAC) said profit rose 63% in the second quarter, beating analysts' estimates as the company kept expenses in check.

U.S. Bancorp (USB) said second-quarter profit rose 4.9% as the firm cut expenses and set aside less for soured loans.

PNC Financial Services (PNC) said second-quarter profit more than doubled, beating analysts' estimates, as fee revenue surged and the firm set aside less for bad loans.

Profit rose 37% at Pinnacle Financial Partners (PNFP) in Nashville, Tenn., on the strength of its lending and fee income.

Spain's Banco Santander abruptly replaced the chief executive of its U.S. operations Tuesday.

Robert Wahlman will become CFO of the $3.8 billion-asset company and its bank on Aug. 13, Customers announced Tuesday.

Florida Community Bank in Naples is partnering with Raymond James Financial (RJF) to offer its customers asset management services.

The Senate's approval of Richard Cordray's nomination to run the Consumer Financial Protection Bureau does more than give the agency a permanent director: it also removes Republicans' biggest bargaining chip in their longstanding push to force key structural changes at the agency.

Opus Bank in Irvine, Calif., has formed a commercial real estate banking division made up of Opus' income-property banking division and its newly formed structured finance unit.

Competition for large corporate loans is as intense as ever and, until it eases, the Dallas bank is content to let its middle-market lending drive profits.

Herb Allison, who died Sunday, turned out to have far more in common with his critics than seemed possible during the heat of the financial crisis.

Notwithstanding recent media criticism, there is little doubt that these products offer a better alternative for unbanked and underbanked consumers who would otherwise use a cash-based system to manage their finances.

Prepaid card and technology provider InComm has launched an in-store digital sales program, allowing consumers to buy digital gift cards and other virtual items alongside physical ones at brick-and-mortar merchant locations.

Capital One Financial Corp. (COF) is in talks to take about 250,000 square feet of offices at the UBS Building on Manhattan's Park Avenue.

Wilson Bank & Trust will become one of the first banks to test MoneyDesktop's latest marketing capabilities.

Lending surged at Customers Bancorp in Wyomissing, Pa., this spring, allowing the $3.8 billion-asset company to report profits of $8.2 million in the second quarter, up 26% from the same period in 2012.

Hedge funds have beaten the FDIC in a series of legal disputes over the assets of bankrupt holding companies, exposing a serious flaw in the regulator's system for recovering value from failed institutions.

Reliance Financial Corp. in Atlanta has agreed to buy the trust and asset management business of Grand Bank and Trust of Florida in West Palm Beach.

Comerica in Dallas reported flat quarterly earnings as cost cuts and improved credit quality offset a dip in lending revenue.