Schulman, president and CEO of PayPal since 2014, will leave at the end of 2023. He will continue to serve on the company's board and will join in its search for a successor, the company said.

The buy now/pay later lender posted larger-than-expected losses, and following its layoffs it will deemphasize products with an uncertain short-term outlook, such as crypto trading.

Primis Financial in McLean believes its multimillion-dollar investment in a subsidiary that makes online loans to doctors, dentists and veterinarians will begin paying off this year, after build-out costs weighed on the bottom line in 2021 and 2022.

After soured loans rose above the private student lender's expectations in 2022, its stock price fell 16% on Thursday. One analyst wrote that "persistent credit issues have damaged management's credibility."

The bank, which is beleaguered by digital-asset portfolio forced loan charge-offs that led to a loss in the third quarter and for the full year, climbed to a net income of $2.7 million for the fourth quarter.

The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion.

The company reported its seventh consecutive quarter of record adjusted net revenue.

Uncertainty surrounding the regulatory approval process and overall economic conditions will act as a brake on bank mergers and acquisitions in 2023, says John Corbett, CEO of Florida-based SouthState.

Goldman Sachs Group cut Chief Executive David Solomon's compensation by about 30% to $25 million for 2022, a year in which the share price and profit tumbled and the firm retreated from a highly public effort to create a consumer bank.

CEO Steve Squeri says many of these companies still employ more people than before the pandemic.

While not committing to any specific strategy, the card network may find opportunity in the merger and acquisition market, CEO Al Kelly said.

The San Antonio bank reported an 89% spike in net income, aided by rising interest rates and the company's expansion into Dallas and Houston.

The company formerly known as Alliance Data Systems produced strong fourth-quarter sales, but was unable to report a profit due to factors such larger loan-loss reserves for its acquisition of the American Automobile Association's credit card portfolio.

North Carolina-based First Citizens blamed a rise in problem credit on certain office loans that it acquired in the CIT Group merger. Connecticut-based Webster also expressed caution about the segment, which has been impacted by remote work policies.

As deposits grow scarcer, the Stamford, Connecticut-based bank's acquisition of interLINK earlier this month promises to yield billions of dollars in core funding it can put to work paying down borrowings or purchasing securities, CEO John Ciulla says.

The company will also slow investments in new products this year as it copes with economic uncertainty.

The Oklahoma bank grew fourth-quarter loans at a steady rate and said its regional economy is solid. But it is closely watching the impact of rising senior-care costs.

The Boston bank reported broad-based increases in loans during the fourth quarter, and said it's upbeat about its forecast for 2023. "I think the reason why we're comfortable is because we haven't changed our credit box at all," said CEO Nitin Mhatre.

The card network sees digital payment opportunities and upside from China's reopening, but inflation and the slower pace of travel spending could slow growth.

With the $7.5 billion acquisition, the Minneapolis bank bolstered its customer base in the nation's most populous state by more than 1 million. Earnings accretion from the combination could offset slower loan growth this year.