The bank didn't unveil any new climate commitments, but mapped out the changes it sees as necessary to decarbonize the heavy-emitting industries it still finances.

As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting.

Lloyds Banking Group is cutting around 1,600 roles across its branches, part of a push by the lender to provide more services online.

John Watt, 65, will step down in May after more than seven years as president and CEO of NBT Bancorp in Norwich, New York. The plethora of internal candidates to succeed him made the decision a no-brainer, Watt says.

Hood, who was first appointed to the National Credit Union Administration in 2005, explained what drove his focus on financial inclusion and the technology that promises to make it possible.

The Tennessee-based bank was forced to keep operating on its own after a proposed acquisition was called off. Months later, First Horizon has picked up new customers and improved its profitability, but investors remain cautious amid plans for catch-up spending on technology.

The Indiana bank is "on offense by continuing to invest in new client-facing and key support talent and being ready and opportunistic for acquisitions," CEO Jim Ryan says.

Financial institutions, led by the biggest U.S. banks and regional lenders, have dominated high-grade issuance, making up over 60% of the $149 billion that has priced so far this month.

Now that leveraged loan markets have calmed down — and interest rate cuts are on the horizon — investment banks want to get some of the business back.

The top five banks and thrifts have combined total assets of nearly $13 trillion as of September 30, 2023.

Investors drove up the stock prices of both companies after Ally Financial said it's selling its point-of-sale lending business to Synchrony Financial. The deal is expected to help Ally focus on its bread-and-butter auto lending business, while also aiding Synchrony's efforts to gain market share.

Citizens Bank of Edmond's Jill Castilla is reappointed to Fed Advisory Council; Old National injects $1.2 billion into its existing community benefits program; former Ernst & Young CEO Mark Weinberger joins JPMorgan's board; and more in our weekly banking news roundup.

When Gensler arrived at the SEC in 2021, he took on just about everything. Rules for stock-market trading, Treasury-security clearing, executive-pay disclosures, private equity, crypto, short-selling, climate-change risks, even AI: nothing seemed off limits. But now, three years later, to Big Finance, the verdict is clear: Gary Gensler overreached.

The top five banks and thrifts have a combined first mortgage loan volume of more than $1 trillion.

After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.

Centra Credit Union in Columbus, Indiana — which completed a merger with NorthPark Community Credit Union this month — has agreed to absorb Hoosier Hills Credit Union. The latest deal would create a $3 billion-asset institution.

The Seattle bank's stock price fell in 2023 amid concerns over rising interest rates and its concentration of multifamily loans. The buyer is FirstSun Capital Bancorp, which raised $175 million as part of the deal.

The bank agreed to pay an $18 million fine to settle the probe without admitting or denying the SEC's findings. 

Revenue from the fixed-income trading business was little changed from a year earlier, disappointing analysts who had expected an increase.

The asset and wealth division helped drive the gains, posting its highest quarterly revenue in two years on a gain tied to the sale of a financial-management business. That helped counter fixed-income trading results and investment-banking fees that fell short of expectations.