Finance

The Wilmington, North Carolina-based small-business lender is prepping a wider rollout of the business checking account it introduced in the first quarter. Chairman and CEO Chip Mahan said the move will allow the company to "nip at [its competitors'] edges as their customers feel less appreciated."

The regional bank said metropolitan economies across its central and western U.S. footprint are resilient, and new loan opportunities are abundant. Trepidation among competitors, too, is creating openings for the Oklahoma bank, its CEO said in an interview.

CEO Ryan McInerney touted the growth of Visa Direct and unveiled a fraud-scoring service called RTP Prevent, which is powered by artificial intelligence, while discussing the card network's earnings for its fiscal third quarter.

During the company's second-quarter earnings call, CEO Jim Ryan acknowledged employees' "resiliency and their commitment to supporting one another" after a gunman opened fire on a Louisville, Kentucky, branch in April.

Federal Deposit Insurance Corp. sales from the portfolios of failed Silicon Valley Bank and Signature could be complete by September, according to a report published Tuesday by FHN Financial.

Credit metrics are deteriorating as more cardholders fall behind on their payments. But bank CEOs detect few causes for alarm, saying they plan to stay in growth mode since most consumers have stayed current.

The regional bank told analysts that it has studied how much debt it would need to raise based on an effective post-reform capital floor of 6% of risk-weighted assets, and has determined that that increase in capital would be manageable.

The Dallas-based company, which saw $3.7 billion of deposits withdrawn after Silicon Valley Bank failed, now predicts average deposits will fall 14% to 15% compared with last year. However, the pace of outflow is slowing, say the bank's executives.

The company says young consumers, steady credit quality and a robust travel recovery will offset a weaker economy for small businesses.

The Ohio-based regional bank continued to drive loan and deposit growth in the second quarter. But lending activity is expected to ease while funding costs remain high, tempering net interest income expectations for the full year.

The Pasadena, California, bank expects to spend more on hiring this year, including the addition of some former Silicon Valley bankers. Anticipated loan growth and an uncertain economic horizon prompted the bank to increase reserves for bad loans.

Executives of the regional bank say they are zeroing in on its most profitable business lines and moving away from one-off customer relationships that don't generate as much revenue.

The Cincinnati bank said that it plans to reduce originations in the segment by 15%. It is leaning into businesses that provide an opportunity to build deeper customer relationships.

Chairman and CEO Chris Gorman said Key's reduction efforts were prompted by an expectation big banks will be expected to operate with significantly lower loan-to-deposit ratios going forward.

The Columbus, Georgia, bank is selling a $1.3 billion portfolio as part of a plan to pay off higher-cost funding. Though there are rising concerns about the office sector, Synovus said the loans it's offloading have pristine credit quality.

Discover Financial Services' stock tumbled after revealing a new FDIC consent order regarding consumer compliance. Separately, the financial institution also copped to misclassifying certain credit card accounts into its highest merchant-pricing tier beginning in 2007.

The Phoenix bank was one of the institutions hit hardest in this spring's banking crisis, but deposits rebounded in the second quarter. The bank's earnings results were what "we were all hoping for," one analyst said, sending its stock up 8%.

The Buffalo, New York, bank said that share repurchases are off the table, even though the amount of incremental capital it's required to hold has declined from last year. Executives pointed to forthcoming revisions to risk-based capital rules, which are expected to hit midsize banks like M&T.

The recent conversion marked one of the final steps in the $8 billion acquisition, first announced in 2021. U.S. Bank still anticipates up to $900 million in cost savings and a breadth of opportunities to expand revenue from the transaction.

Several community banks noted an uptick in problem loans in second-quarter earnings reports. Small lenders should brace for more of this, industry observers noted.