Economy

The Long Island-based company, which is in the middle of a makeover, saw its stock price rise sharply after reporting a net loss that was less than what analysts expected.

M&A, economic growth and artificial intelligence are among the leading issues banks will encounter this year, economists said.

The megabank is simplifying the management structure of its private bank. Regional leaders will now report directly to Andy Sieg, head of wealth.

The Green Bay, Wisconsin bank lost $164 million after selling $2 billion of loans and securities for a loss. Asset quality remains strong while the balance-sheet restructuring tees Associated up for a strong rebound this year, executives say.

After the tumult of buying PacWest Bancorp, Banc of California is not only profitable again but surpassing Wall Street's expectations.

Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.

The Bethesda, Maryland, company projects increases in loans and deposits as its C&I lending strategy gears up. Criticized and past-due loans appear to be declining even with a jump in nonperforming assets.

Scott Turner, President Trump's pick to head the U.S. Department of Housing and Urban Development, faced opposition from Democrats on the Senate Banking Committee, but his nomination was nonetheless approved by a vote of 13-11.

Trump's pick for treasury secretary commits to a thorough and careful recapitalization and release process for Fannie Mae and Freddie Mac.

Sunsetting the federal oversight of Fannie Mae and Freddie Mac could ease the cost of renewing President Trump's 2017 tax act, but doing so is an uphill battle.

The Columbus, Ohio-based bank's profit more than doubled in the fourth quarter from a year ago, with solid growth in loans and deposits.

Quicken Business & Personal will help entrepreneurs manage their personal and business accounts on one platform by aggregating financial data from banks.

The Pittsburgh-based company's fourth-quarter earnings increased more than 80% from the same period in 2023, beating analysts' expectations and leaving CEO Bill Demchak upbeat about 2025 prospects, though M&A likely remains off the table.

The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.

Mohit Ramani joins the Cleveland-based company next week. His predecessor, Darrin Benhart, will fill a newly created role as Key's chief regulatory officer.

Banks seeking to offload CRE assets are finding a receptive marketplace while regulators have managed to keep the situation in balance, observers say.

The Florida bank is jumping on the strategy for general corporate purposes and a potential sale of its underwater bond portfolio.

The Bethesda, Maryland-based company called its success in luring a team from Capital One as its most "newsworthy" move to date executing a strategy aimed at diversifying its lending operation.

In a Wednesday morning speech, the Federal Reserve Gov. Christopher Waller said President-elect Donald Trump's nascent trade policy will likely lead to a one-time jump in prices rather than broader inflationary pressure. He also said he expects further interest rate cuts in 2025.

Reading Cooperative's combination with Wakefield Cooperative, the third deal involving Boston-area banks announced in the past month, would create a $1.2 billion community bank.