The Pittsburgh bank has been looking for the right target to acquire at the right time. But top company executives said Tuesday that deals are likely off the table in the near term because of uncertainty about the direction of tariff policy and interest rates.

The Charlotte, North Carolina bank reaped the benefits of volatile markets and net interest income topped analysts' estimates in the first quarter.

Just three months after hailing a positive "sentiment shift" following last November's election, Goldman Sachs CEO David Solomon lamented President Trump's trade war and said "the prospect of a recession has increased."

The Buffalo, New York-based bank also said Monday that the commercial real estate lending market has started showing signs of life, but that the renewed competition is crimping its loan growth.

Equity-trading revenue rose 27% from a year earlier to $4.19 billion for the first three months of the year.

Lower credit costs and better expense control helped the San Francisco-based titan offset the impact of lighter-than-expected revenue.

The chief executives at four of the nation's largest banks weighed in on what evolving trade policies mean for their businesses and the U.S. economy. "I think you have to be a little bit pessimistic here," said Bank of New York Mellon CEO Robin Vince.

The JPMorgan Chase CEO said Friday that recent turmoil in the bond market highlights the need for more capital and liquidity flexibility.

Bank of New York Mellon's earnings blew past Wall Street's expectations, but CEO Robin Vince said the bank is bracing for long-lasting uncertainty.

The first three months of the year coincide with the start of President Donald Trump's second term in office. Investors are likely to be more interested in banks' outlooks amid swings in tariff policy than the first-quarter results.

JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs Group and Morgan Stanley are projected to post a combined $34.8 billion haul from their trading businesses in the first quarter, the most for that period in at least seven years.

Five Star Bank's parent company denied wrongdoing but said the agreement spares it the uncertainty and expense that might have resulted from a trial.

The Detroit lender will take a first-quarter hit due to a latest balance sheet restructuring, but said the play should boost profitability in the long term.

Increases in memberships and loan originations led to the bank's improved performance.

The card-issuing company has appointed CFO Mike Milotich as interim CEO as Simon Khalaf steps down. The firm also agreed to buy European payment provider TransactPay.

The Canadian bank's U.S. unit is restructuring its balance sheet and managing the fallout of anti-money-laundering compliance failures, but there were some positive indicators in last quarter's results.

Canada's largest bank is bracing for the impact of a threatened U.S. 25% tariff on imports from north of the border. But the cloudy 2025 outlook was offset by strong results last quarter.

The third-largest Canadian bank by assets is preparing itself and clients for the Trump administration's proposed 25% tariffs on Canada and Mexico.

The payments company, which is unifying parts of its operation to deepen its reach with consumers and businesses, saw its stock fall more than 10% after reporting mixed earnings, though analysts are more bullish on the company's future.

Up from $26 million in 2023, Jane Fraser's compensation last year saw the largest increase so far among heads of big U.S. banks.