Corporate finance

PayPal Holdings Inc. Chief Executive Officer Dan Schulman is getting investors to embrace his strategy of converting the online payments platform into a digital wallet, even if it requires deal-making that diminishes profit margins.

All six big card issuers reported higher chargeoffs in their credit card businesses, a sign that the post-crisis era of exceptionally strong credit performance has run its course.

Growth in commercial real estate loans is a big reason the New Jersey bank had a strong quarter.

The Westbury, N.Y., company is angling for an acquisition as it approaches the $50 billion-asset mark.

State Street won $110 billion of new asset-servicing business in the quarter.

The Tulsa, Okla., company also benefited from higher interest and fee revenue while keeping expenses under control.

The New York company also reported a wider net interest margin and lower noninterest expenses.

Profits at the Dallas lender plunged as it slashed originations and edged up the credit spectrum.

The era of exceptionally strong loan performance in the credit card business has come to an end, and the Riverwoods, Ill., firm is feeling the effects.

Most of the delinquencies and chargeoffs were in the bank’s credit card and auto loan portfolios

Northwest, which produced lackuster first-quarter results, said it will close all 44 offices of Northwest Consumer Discount Co. by mid-July. The unit’s loans will be transferred to Northwest’s bank for servicing and collections.

Growth outside of its residential mortgage business contributed to Flagstar Bank beating first-quarter earnings estimates, company executives said.

The results handily beat estimates as the company benefited from CEO Ellen Alemany’s ongoing effort to shed businesses and simplify operations.

The West Virginia company sold the mortgages to Residential Funding and ResCap Liquidating Trust between 2003 and 2007.

Merger-related expenses cut into the Pittsburgh company's earnings, though management is excited about growth opportunities in North Carolina.

Double-digit gains in assets under management and administration and higher interest rates more than offset rising expenses.

The Cincinnati company’s 1Q profits were hurt as it scaled back in key consumer and commercial credits, paid higher severance and saw fee income fall.

The Florida company relied on loan growth and loan sales to offset higher expenses and ongoing issues in its taxi medallion lending operations.

Zions beat expectations on several bits of good news, but it reported about $30 million of chargeoffs tied to a single commercial borrower.

Quarterly earnings at the Wayzata, Minn., company fell as gains from the sale of auto loans continued to slide.