Expense management

The Georgia bank could rely more on drive-through-only branches, trim office space and reassess staffing levels after the coronavirus crisis, according to Kessel Stelling.

First Horizon still plans to complete its merger with Iberiabank on time, CEO Bryan Jordan said during the Tennessee company's earnings call.

Executives say they can still meet their goal of $480 million in cost savings this year from the combination of BB&T and SunTrust despite unexpected expenses, unless the economy fails to rebound quickly.

Cobalt Credit Union is currently a state-chartered institution but is looking to once again become a federal one because of Iowa state taxes.

Margins will be squeezed after the Federal Reserve lowered interest rates earlier this month to counteract the economic fallout from the coronavirus.

The bank still plans to open branches on the West Coast even as it trims its overall U.S. footprint by 30%.

The bank's announcement that it will slash about 35,000 staff and take $7.3 billion of charges prompted its stock to tumble and renewed questions about the bank's direction and lack of a permanent CEO.

As faster payments change how quickly companies get paid, these same organizations are looking to add speed to the way they manage internal expenses.

The tight labor market and public pressure to raise minimum wages are expected to nudge noninterest expenses upward in a year when the watchword is cost control.

Emburse, a new consolidation of several corporate expense management platforms, now supports instant reconciliation of business expenses at the moment the transaction occurs.

The Toronto firm, Canada’s fifth-largest lender by assets, must keep “a careful eye on costs” and improve efficiency, its CEO said in a corporate memo.

The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal.

Steuben Trust received two bites from potential MOE partners, but the New York bank’s lightly traded stock and many other challenges forced a sale to a much larger rival instead.

House and Senate lawmakers have denied a push by banking groups to grant banks the rent-free access to military installations that credit unions have.

While layoffs at big banks get the headlines, small and midsize lenders are also trimming payrolls in response to lower rates and fears that a recession is getting closer.

Executives are deciding what roles could be relocated to lower-cost hubs such as Plano, Texas; Columbus, Ohio; and Wilmington, Del.

Perhaps the biggest test that Charles Scharf will face when he starts next week will be how to control expenses while still trying to make the necessary investments in risk management to satisfy regulators.

The institution also remained well capitalized and its membership rose in the first half of the year.

A new study suggests banks have the ability to operate leaner than ever before. That could fuel investor demands for more cost cutting and drive more banks to pursue M&A.

Pockets of job growth — in technology and compliance as well as from branch openings in new cities — are offsetting some of the dramatic cuts elsewhere at the world’s largest lenders.