Financial institutions

The Connecticut company, which is nearing the threshold to become a systemically important financial institution, has bought three businesses in the past year.

With online retailers beginning to challenge the dominance of brick-and-mortar grocery stores, CRE loans to strip mails anchored by them look riskier.

More than 20 different states are part of the Juntos Avanzamos network, with dozens of CUs participating from across the country.

The $36.3 billion-asset bank reported double-digit growth in C&I loans, commercial real estate loans and specialty loans to the private-equity, entertainment and energy industries in the third quarter.

Acting Comptroller of the Currency Keith Noreika pushed back against concerns that his agency's proposed fintech charter will unduly benefit nonfinancial firms.

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.

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.

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.