Deposits

The interest paid on consumer deposits has barely risen despite the Federal Reserve's aggressive rate hikes, writes Sen. Jack Reed, D-R.I., in letters to seven of the largest U.S. banks including JPMorgan Chase and Wells Fargo.

Rising interest rates are forcing credit unions to pay more for deposits while they are sitting on low-yielding loans, according to the National Credit Union Administration's eastern regional director, John Kutchey.

The San Antonio bank reported higher deposit costs, along with larger deposit volumes, during the third quarter.

Eighteen months after the $2.6 billion deal was announced — and five days before the Oct. 31 deadline — New York Community is still waiting for regulatory approval to buy the Michigan bank. On their joint earnings call, the companies wouldn't say where the deal stands.

Pricing discipline at the Georgia bank contributed to a 3.5% quarter-over-quarter decline in deposits. To stem the tide, the company plans to lean into core deposits, brokered deposits and advances from the Federal Home Loan Bank System.

Executives at the Dallas company said they feel positive about the remainder of the year, though declining deposits could create issues going forward.

Profits, revenue and net interest income fell short of expectations for the Buffalo, New York, company. It stashed away $50 million of reserves, pointing to worsening forecasts for the global economy and growth in its consumer portfolio.

The San Francisco bank reported a near-record volume of loan originations, as well as stellar credit quality, in the third quarter. But investors sold off shares after the company's net interest margin fell.

The Pittsburgh company's finance chief expects more gains in interest income, though he conceded rising deposit costs could curb the pace of advances.

The nation's largest bank by assets cited a weakening economic outlook as one reason it added to its allowance for loan losses for the third straight quarter. But its third-quarter results beat analysts' expectations.