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Citigroup boosted profit more than analysts estimated after a cost-cutting push helped it weather a slump in trading.

Umpqua Holdings in Portland, Ore., posted lower profit from a quarter earlier, largely reflecting a decline in net interest income.

First-quarter results from U.S. Bancorp and PNC Financial Services Group shows banks have little choice but to wait until the Fed raises interest rates. They have cut expenses almost as far as they can go, and fee income is limited in how much it can offset narrower spread income.

IF Bancorp in Watseka, Ill., has selected the successor for its retiring president and chief executive.

Bank of America reported its best quarterly profit in more than a year, but with revenue declining and expense-reduction slowing, it is unclear where the company can turn to boost earnings. Similar questions are plaguing many banks as the latest earnings season unfolds.

Bank of the Ozarks could raise more capital, especially if a rising number of unfunded loans convert to funded credits. Management is also keeping an eye on credit quality, raising certain standards and selling some syndicated loans.

Boston Private Financial Holdings and its bank have shuffled some key executive posts.

PNC Financial Services Group posted profit that beat analysts' estimates as commercial lending accelerated.

Bank of America Corp., the second-biggest U.S. lender by assets, posted a $3.36 billion first-quarter profit that beat analysts' estimates, as legal costs tumbled.

U.S. Bancorp posted profit that matched analysts' estimates on gains in mortgage-banking revenue.

The San Francisco bank has produced enough growth in mortgages, C&I and other areas and made other moves to offset low rates. It is a hopeful example for mortgage-heavy banks and other lenders battling tight margins.

More than 70 banks are set to hit their seventh anniversary this year, crossing a threshold where they will have reduced regulatory scrutiny and relaxed capital ratios. While many are excited about the potential to growth, they are aiming to do so carefully.

JPMorgan Chase reported strong loan growth and higher utilization in its commercial banking unit, which serves midsize businesses. It could set the stage for others to report similar results. Still, low interest rates are muffling the benefits.

PacWest Bancorp in Los Angeles announced Tuesday that Chief Financial Officer Victor Santoro plans to retire from the post this summer and West Coast banking veteran Patrick Rusnak will succeed him in that role.

Wells Fargo & Co., the most valuable U.S. bank, said low interest rates pushed first-quarter lending margins below 3 percent for the first time since the 1990s.

Sound Financial Bancorp in Seattle has selected a former Fannie Mae executive to join its board.

JPMorgan Chase & Co., the biggest U.S. bank, said first-quarter profit climbed 12 percent on rising revenue from fixed-income trading.

Commerce Bancshares in Kansas City, Mo., said Monday that first-quarter profits fell 5% from a year earlier, to $61.1 million, as net interest income fell and expenses rose.

Local governments have historically relied on selling bonds to finance operations. But low interest rates and the rising costs of taking bond issues public are making traditional loans a more tempting option.

Citigroup has named Stephen Bird, chief executive of its Asia-Pacific division, to head its global consumer bank as part of a broader shuffling of executives.