Non-interest income

Credit unions intensified their focus on gathering deposits in 2019 but many institutions are still looking for cheaper core funding.

The Kansas City-area institution has sponsored the NFL’s Chiefs since 2016, but became its official banking partner in 2019. The timing couldn’t have been better.

Ardent Credit Union plans to market its adaptable “Cube” design to other financial institutions.

The Mass.-based institution, which recently saw a slight dip in noninterest income, will provide a variety of P&C products for members and nonmembers.

On Sep. 30, 2019. Dollars in thousands.

Profits dipped 7% from a year earlier but banks still earned nearly $60 billion, the agency said in its Quarterly Banking Profile.

A 10% cut next year, which will be identical to the fee reduction this year, is projected to save the industry about $85 million.

Washington Trust warned that it could lose $3 million in annual revenue after two top advisers left to join a brokerage firm. Other banks are facing similar hits.

Net interest income rose just 1%, but the bank rode a surge in advisory and other fees to beat profit estimates.

On Jun. 30, 2019. Dollars in thousands.