Bricks-and-mortar locations aren’t yet obsolete. Leading banks are responding to changing consumer demands by developing specialized branch formats, increasing their focus on advice and emphasizing proactive engagement with customers.

Bank of America Corp., the second- largest U.S. lender, said third-quarter profit dropped 95 percent on litigation expenses and an accounting charge tied to the firm's debt.

Strong net interest income helped Wintrust Financial (WTFC) overcome rising labor expenses and smaller gains on failed-bank acquisitions.

PNC Financial Services Group Inc. (PNC), the seventh-largest U.S. bank by deposits, fell 4% after reporting a third-quarter profit that missed analysts' estimates.

Pacific Premier in Costa Mesa, Calif., needed more deposits to make more loans, so it took advantage of its rising share price to strike a deal for First Associations Bank in Dallas, which holds deposits for homeowners associations.

Fast-growing State Bank and Trust in Macon, Ga., has purchased substantially all of the assets of Altera Payroll, a payroll services company, to diversify its revenue stream.

Citigroup CEO Vikram Pandit resigned effective immediately on Tuesday, the third-largest bank said on Tuesday morning.

A federal appeals court in California has ruled that debt buyer Portfolio Recovery Associates must stop using an automatic dialing system to call cell phones without prior consent.

PNC Financial Services, the seventh-largest U.S. bank by deposits, said third-quarter profit climbed 11 percent as mortgage revenue helped drive an increase in non-interest income.

Pacific Premier Bancorp (PPBI) in Costa Mesa, Calif., has agreed to pay roughly $53.7 million to acquire a niche bank to help fund future loan growth.

A breakdown of bank M&A announcements for the week ended Oct. 13.

Stifel Nicolaus Weisel, an investment banking firm in St. Louis, has jumped to third from sixth place among bank deal advisors this year.

Citigroup has gotten rid of almost $500 billion in unwanted assets since the financial crisis, but executives say it still has work to do.

Rufus "Bud" Reitzel's vision created a $100 billion industry. When he started his small firm 50 years ago, he kept his accounts on two-by-four index cards and collected door-to-door in Detroit.

Citigroup Inc., the third-biggest U.S. bank, reported a surprise profit of $468 million for the third quarter, helped by a $582 million tax benefit and bond- trading revenue that beat analysts' estimates.

The asset management unit for Fifth Third Bancorp has agreed to sell some assets to three of its executives.

Banco Santander SA's decision to abandon its 1.7 billion-pound ($2.7 billion) purchase of 316 Royal Bank of Scotland Group Plc branches may prompt the U.K. lender to keep them or seek more time to find a new buyer.

RBC Capital Markets has named a former Bank of America (BAC) executive as a vice chairman.

More than 700 community banks failed a stress test performed by the New York data company Trepp, based on the proposed Basel III guidelines. Even if they wanted to do something about this problem, many would have a hard time raising capital in the private markets now.

Two East Coast banks have shed their mutual holding company ownership.