Corporate finance

The largest bank in the country bulked up its reserves by $2.2 billion for potential credit hits from the Apple card portfolio, which JPMorgan is taking over from Goldman Sachs.

Banks will start reporting their fourth-quarter earnings on Tuesday. But it's what bankers say about the next 12 months that will probably attract the most interest from industry observers.

New disclosures show the ransomware attack on the marketing vendor affected far more community banks and credit unions than initially estimated.

Midland States Bancorp has completed three major asset sales in the past 12 months, exiting national business lines and shifting focus to its core community banking franchise.

The Canadian bank is determined to grow its U.S. business organically, CEO Darryl White said Thursday. But with so much excess capital, analysts wondered about the bank's appetite for M&A.

The Canadian bank still has more work to do as it rolls out additional processes, technology and training. TD will also have to prove to regulators and the U.S. Department of Justice that its actions are sustainable.

Royal Bank of Canada now expects to achieve an annual return on equity of at least 17% by 2027, executives said Wednesday, up one percentage point from the bank's earlier goal.

Bank of Marin Bancorp in Novato has sold a big chunk of low-yielding securities, replacing them with investments that should produce significantly more income.

The Federal Deposit Insurance Corp. said in its Quarterly Banking Profile report for the third quarter that bank earnings hit 2025 highs as falling provision costs, wider margins and steady credit quality lifted industry profitability.

Advances from the Federal Home Loan Banks dipped in the third quarter, but experts do not necessarily see the dip as a sign of ample liquidity in the economy.

In the company's first earnings report since going public, CEO Sebastian Siemiatkowski offered what analysts called a conservative Q4 outlook while laying out its growth plans that included an expanded distribution network, increasing its long-term installment loan penetration with merchants and becoming a full-fledged neobank.

Oresar, who joined BMO as head of treasury and payment solutions sales after more than two decades at JPMorgan Payments, spoke with American Banker about her priorities leading a new team; the importance of organic mentorship; and what clients are asking for to keep up with the fast-paced change that's happening to the payments industry.

Consumers' and merchants' penchant for 0% loans are boosting the buy now/pay later lender in its first fiscal quarter ended Sept. 30, as gross merchandise volume hit a record.

The payment and commerce company's stock fell as much as 12% in afterhours trading on Thursday after the fintech missed Wall Street's earnings estimates, despite posting growth in all lines of business and increasing its full year guidance.

The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.

Despite record loan applications, Upstart's AI pulled back, causing a revenue miss and raising "incremental uncertainty" about its core underwriting model.

Large banks seem comfortable paring back their capital positions while they await an updated proposal on the so-called Basel III endgame. The rules are widely expected to be more lax than what was proposed during the Biden administration.

With the U.K. and U.S. giving a green light to the company's $22.7 billion scale-building deal to buy Worldpay, Global Payments has begun its integration strategy.

The buy now/pay later firm, which reports earnings Thursday, has inked deals with Worldpay to expand potential borrowers and with New York Life to obtain more capital for future lending.

The Tacoma, Washington-based bank, which has completed two mergers since 2023, said Thursday that it will buy back up to $700 million of its own shares over the next year.