Financial institutions

Citigroup promoted Jane Fraser to president, its second-highest post, making her a likely candidate to succeed CEO Michael Corbat and someday become the first woman to run one of the largest U.S. banks.

Midsize players like BankUnited, BOK and Fulton Financial plan to rely on selective M&A, catering to niches overlooked by big banks, aggressive recruitment of commercial lenders and other strategies to stimulate revenue growth.

Huntington Bancshares and U.S. Bancorp also said in recent days that they are eliminating jobs to reduce overhead and improve profits. With net interest margins shrinking and branch traffic continuing to decline, expect more banks to follow suit, analysts say.

FCUs are regaining their appeal given the resources NCUA has put into helping de novos and the potential for expanded fields of membership.

A regulatory cloud still follows fintech companies following a judge's decision throwing out the Office of the Comptroller of the Currency’s special-purpose charter.

Amid concern that an economic downturn is approaching, Greg Carmichael said that banks need to focus on credit quality and not worry about expanding their balance sheets.

The Columbus, Ga., company had been counting on increased volume to offset a squeeze in net interest margins.

The Ohio company, scheduled to report third-quarter results Thursday, blamed the decision on the squeeze interest rates are putting on revenue.

The nation's largest bank is hiring former prisoners for entry-level jobs and funding a policy center whose mission will be to help adults with criminal histories reenter the workforce.

On Jun. 30, 2019. Dollars in thousands.

On Jun. 30, 2019. Dollars in thousands.

On Jun. 30, 2019. Dollars in thousands.

Count Citizens Financial’s Bruce Van Saun among those who think interest rate cuts could halt by mid-2020. The key, he says, is to focus on delivering services customers are willing to pay fees for and to skillfully reprice deposits until then.

A regulatory proposal to ease the initial margin buffer on certain derivatives trading could be harmful to the economy.

The companies say they're working hard to complete their deal this year — including spending millions on retention payments and other items — but there's no guarantee how quickly regulators will make their decisions.

The Pittsburgh company’s “branch lite” approach to retail and middle-market banking in new markets will break even sooner than expected and has had a noticeable impact on loans and deposits.

The Minneapolis company attributed the uptick to new tech tools, additional loan officers and other process improvements — not to mention the refi boom fueled by lower rates. It’s a formula other banks are expected to copy.

Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability.

The application for Riverside Bank of Dublin comes just six months after another group opened a bank in a nearby market.

The Minneapolis bank says recent investments in its retail operation contributed to strong improvement in home lending and mortgage banking fees.