Industries

Chief Executive Officer Georges Elhedery was aiming for $1.5 billion in annual cost savings, but HSBC is forecasting hundreds of millions in extra real estate costs as it considers asking more of its employees to work from an office.

Primis Bank plans to sell an undisclosed amount of its 19% ownership stake in Panacea Financial, a digital-only lender focusing on medical professionals and veterinarians. The deal should yield $22 million.

A forthcoming bill from Sens. Jim Banks, R-Ind., and Catherine Cortez Masto, D-Nev., would allow the Federal Housing Finance Agency director to set limits on executive pay at the Federal Home Loan banks.

Princeton Bancorp, which has $2.3 billion of assets, reported a sizable impairment charge tied to participation loans on a pair of office properties.

Credit risk transfers, which gained traction in 2022 and 2023 as banks sought to manage their capital levels, may now become a solution for lenders looking to reduce their exposure to commercial real estate loans.

The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.

As the risk of a recession rises, commercial real estate loans remain a major concern for banks and industry participants. One observer asked: "Is '25 the year where sellers start to capitulate, call a loser a loser, and move on?"

Financial services executives report seeing an increase in quantifiable value from AI investments in the fifth annual Broadridge survey.

The first year of Otting's tenure as the New York lender's CEO brought substantial change, but the job isn't done. His goal: to build a powerhouse, profitable regional bank.

With South Florida's economy expected to continue outperforming the rest of the nation, Banesco USA is laying plans to extend its reach into Broward, the wealthy and populous county just north of its Coral Gables home base.

Offices, apartment buildings and retail locations in Los Angeles face a tangle of difficulties as the smoke clears from January's wildfires. High on the list is inadequate insurance, a common problem in California.

The administration's 25% import tax on cars and parts can squeeze dealerships' parts and service revenue, one of their largest profit centers. Buy now/pay later lenders could see a windfall.

The 10-year-old lender, which reported a double-digit jump in profits, is benefiting from what its CEO called "animal spirits" at work on this side of the Atlantic.

Ramp, NerdWallet and Rocket all released commercials at this year's Super Bowl where the Eagles defeated two-time reigning champions the Chiefs.

With the Federal Reserve eyeing changes to its annual examination of large bank resilience, this year's test could be the last of its kind.

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.

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.

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.