Deposits

Between Warren Buffett offloading roughly $4 billion in bank stocks and credit card losses shrinking across the banking industry, here are the top market moves to be wary of.

The Ames-based Ames National Corp. has watched its profits shrink over the past two years amid increased funding costs and stiff competition for deposits.

A coalition of financial industry groups is calling on the Federal Deposit Insurance Corp. to provide more data and extend the comment period on proposed brokered deposit restrictions, warning the changes could disrupt banking practices and harm consumers.

Banks are testing the waters on paying depositors lower interest rates, and analysts expect they're due for a bigger breather when the Fed takes action. It's a welcome shift for banks, after competition for deposits forced them to pay up.

The Federal Deposit Insurance Corp.'s focus on implementing stricter control over brokered deposits is misguided, a former chairman on the agency writes, and misses the real lessons of 2023's bank failures.

Industry experts argue that the Federal Deposit Insurance Corp.'s recent brokered deposit proposal, which would expand the classification of brokered deposits and reverse key elements of a 2020 rule, reflects outdated thinking and may discourage banks from holding such deposits.

The Wilmington, North Carolina-based institution is pursuing a model that cuts out the middleman and embeds its services directly into fintech partners' platforms.

The Oklahoma-based bank also struck an upbeat tone on economic conditions and credit quality after it reported a sharp quarter-over-quarter increase in net income.

The Georgia-based bank recorded a $257 million hit after unloading a bundle of securities that it expects to redeploy into higher-yielding assets. It also forecast a resumption of loan growth in the second half of the year.

See which bank topped American Banker's annual ranking of the best-performing midsize institutions.

The top-performing banks with between $10 billion and $50 billion of assets boasted relatively strong loan portfolios and expense control.

The Charlotte, North Carolina-based bank saw profits and net interest income dip in the second quarter, but made up lost revenue through investment banking fees.

The Pittsburgh-based superregional bank reported a small quarter-over-quarter advance in net interest income, and it expects loan growth to pick up in the second half of the year. PNC, which announced job cuts last year, also said that it has identified an additional $25 million in cost savings.

The San Francisco bank's interest expenses continue to rise as depositors switch to higher-yielding options. At the same time, soft loan demand from business customers is putting a lid on how much interest Wells is collecting from borrowers.

The former head of Square Banking at Square is one of American Banker's 2024 Most Influential Women in Fintech.

Statewide Federal Credit Union in Flowood used its partnerships with Bankjoy and Strum Platforms to identify untapped communities in its field of membership and aggressively market its inaugural high-yield savings account.

IntraFi has joined two banking industry trade groups spearheading an effort to source large institutional deposits at small, cash-starved CDFI and MDI banks.

Total direct compensation for the CEOs of large and midsize banks declined by 6.6% in 2023, and annual bonus payouts tumbled by 30%. The decreases came as banks grappled with the fallout from last spring's banking crisis.

Though Jenius Bank hasn't reached breakeven, it's evidencing solid progress gathering deposits and making loans as it gets ready to celebrate its first birthday.