Economy

Robust growth in net interest income, combined with a lower provision for loan losses, helped boost Webster Financial Corp.'s profits to a record $62.4 million in the third quarter, 26% higher than a year earlier.

The New York bank's total loans rose 8% to $31 billion from a mix of commercial real estate and specialty finance credits.

Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations,

Growth in asset servicing offset declines in fees from foreign exchange and depositary receipt activity.

In a moment of rare unity, the Independent Community Bankers of America and National Association of Federally-Insured Credit Unions sent a joint letter to FHFA arguing to stop the GSEs' profit sweep.

Profits at the custody bank rose 16%, but it announced a new streamlining program that is expected to generate yearly savings of $250 million by 2020.

The company, which plans to change its name to Hancock Whitney next year, reported increased profit that reflected balance sheet growth.

Burgess, chairman of FirstCapital Bank of Texas, succeeds Dorothy Savarese, of Cape Cod Five Cents Savings Bank in Massachusetts, as chairman of the American Bankers Association.

Frederick Waddell will retire as CEO of the Chicago custody bank at the end of 2017 but will remain chairman.

TD Bank has pledged $3 million to provide credit counseling to small-business owners. The hope is that those owners will use commercial loans to replace personal credit cards and home equity as their primary forms of business funding.

Wells Fargo was barred by California's treasurer from being hired for another year because of the bank's fraudulent account scandal, leaving the company largely cut off from underwriting work with one of the nation's biggest municipal-bond issuers.

The San Francisco bank hopes to win middle-market business from its new commercial offices in Cleveland and Dallas.

Senate lawmakers will soon introduce a bill that could more than quadruple the current $50 billion threshold to be considered a systemically important bank, National Economic Council Director Gary Cohn said Monday.

The Tennessee company reported 6% growth in loans, which included strong C&I and CRE grains. However, revenue shrank thanks partly to a steep falloff in fixed-income fees.

With issuance of marketplace securitizations now exploding — rising 300% cumulatively in the past two years — the idea of online lending as a niche is quickly deteriorating.

Student loan platform Social Finance has withdrawn its application for deposit insurance, a month after former CEO Mike Cagney retired in the wake of sexual harassment allegations.

Efforts to make it easier for small businesses to apply for SBA loans, coupled with key community banks' outreach initiatives, contributed to the third consecutive record for 7(a) lending, but credit union participation is still lagging.

Regions Financial's chief credit officer is leading a transformation in the way the company manages risk in its loan portfolio.

As market forces redefine much of the industry, similar to the effects of disruption in the retail sector, regulators should be embracing new banking models.

The bills were individual pieces of the larger Financial Choice Act, including measures to raise the systemic threshold for banks and raise the threshold for banks subject to CFPB supervision.