Performance reports

First Citizens BancShares reported a sharp decline in quarterly profit that largely reflected merger-related costs and the Raleigh, N.C., company's exit from loss-sharing agreements.

Prosperity Bancshares' profit took a hit in the third quarter from lower yields on loans and higher expenses.

UMB Financial in Kansas City, Mo., has made changes to incentive compensation for its branch employees.

Ally Financial, one of the nation's largest automobile lenders, saw profits fall during the third quarter as more motorists fell behind on their car payments.

Third-quarter profits rose at Cullen/Frost Bankers in San Antonio, driven by a lower provision for problem loans.

Higher mortgage banking revenue and commercial real estate lending offset merger costs at United Community Banks in Blairsville, Ga., leading to an improvement in third-quarter profit.

Huntington Bancorp's profits took a hit in the third quarter from $159 million in merger and integration costs tied to its acquisition of FirstMerit.

Valley National Bancorp in Wayne, N.J., had stronger quarterly profit that reflected improved revenue.

Higher costs associated with its GE Asset Management acquisition, legal reserves and job cuts combined to reduce State Street's third-quarter profit.

The latest tale of wrongdoing tied to the financial services industry is the outcome of a smart customer-centered strategy that went awry. Now, bank customers will ultimately suffer the most.

UMB Financial in Kansas City, Mo., reported higher quarterly profit as it continues to makes progress on a multi-year effort to slash expenses.

New York Community Bancorp in Westbury, N.Y., reported higher third-quarter earnings after a debt repositioning last year helped its net interest income.

Credit losses rose substantially at Discover Financial Services during the third quarter, but the Riverwoods, Ill.-based card issuer still managed to report bigger profits.

Flagstar Bancorp's quarterly profit increased after a decline in the value of a 2012 legal settlement liability tied to its mortgage lending practices.

The planned sale of its aircraft leasing unit is expected to leave CIT awash in excess capital, making it difficult for it to achieve a 10% return on average tangible common equity by 2018. So the company said Tuesday that is bringing in Boston Consulting Group to identify cost cuts and revenue enhancements and help CIT hit its profitability targets.

Executives pointed to cost reductions, revenue opportunities and improving returns as early indications of success. Management also touted Key's quick response to a integration snafu that "impacted a very small percentage" of First Niagara clients.

Popular Inc. in San Juan, Puerto Rico, said its quarterly profit fell after losing an arbitration dispute with the Federal Deposit Insurance Corp.

Zions Bancorp. in Salt Lake City posted a double-digit increase in quarterly profit that reflected higher fees and cost control.

Loan growth in Arizona and Southern California led to improved third-quarter profit at Western Alliance Bancorp. in Phoenix.

Bank of Hawaii expanded lending for residential mortgages and commercial real estate, boosting its third-quarter profit.