Lending

Loan balances at the end of the second quarter were up by double digits from a year earlier for the Honolulu-based institution.

The Las Vegas-based institution said its income for the first half of the year was down as it put more into its loan-loss provision.

Lending at credit unions in the Peach State increased by just 0.2%, down from 0.8% growth recorded a quarter earlier.

The Michigan-based institution also recorded increases in earnings, deposits and membership.

Total loan volumes at institutions in both states increased by more than 1%, far above the national rate.

Credit unions reported gains in a number of key areas but member business lending and new auto loans took a hit as overall growth continued to slow.

Granted, the bank's earnings per share topped estimates in the second quarter, but its forecast on net interest income suggests it will be harder for JPMorgan Chase to offset declining revenue from trading stocks and bonds.

The fintech is moving ahead with a loan service after regulatory concerns stymied its deal for an ailing bank.

The fintech rush into point of sale financing is partly a play on younger consumers’ migration away from traditional credit cards. This, in turn, has prompted a counterplay from Citizens Bank.

The autonomous vehicle lending market isn’t expected to peak for decades, but some CUs are already jumping in, and they could be at the forefront of rapid shifts in the automotive industry.