Performance reports

The New Jersey company's entrée into New York City had been expected for years. A week after opening an office on Madison Avenue, ConnectOne is eager to court small businesses and identify possible people to hire.

People's United Financial in Bridgeport, Conn., reported a second-quarter profit of $61.7 million that was aided by growth in lending and certain fee revenue.

M&T, PNC, SunTrust and other regionals reported strong fee growth thanks to inroads they have made in investment banking, wealth management and other areas. It couldn't have come at a better time for them.

The Dallas company recorded a higher provision as nearly $330 million in energy credits were classified as "criticized" during the second quarter. The size of Comerica's energy portfolio also shrank by 8% during the quarter.

Umpqua Holdings in Portland, Ore., reported higher second-quarter profit, citing lower merger costs and growth in residential real estate lending and equipment finance.

Webster Financial in Waterbury, Conn., reported second-quarter profit of $50.5 million, a 12% jump from a year ago, as mortgage banking revenue improved.

Citigroup's second-quarter profit got a modest boost from Citi Holdings, a unit set up six years ago as a dumping ground for toxic assets. After losing billions for years, Citi Holdings has now become a minor profit source for its parent.

Wintrust Financial in Rosemont, Ill. reported higher second-quarter profit due to loan portfolio growth and higher mortgage banking revenues.

Kelly King, who is close to closing BB&T s biggest acquisition to date, told analysts that he could look to add up to $20 billion in assets next year through acquisitions. Management also used a conference call to emphasize the ongoing importance of organic growth.

Bank executives never know what to expect when they face analysts. M&T's CFO may have been prepared for questions on the company’s long-delayed acquisition, but instead he got tougher question over a charitable donation.

First Republic Bank in San Francisco reported higher second-quarter profit, driven by higher loan revenue and wealth management fees.

The Cleveland company, which this spring said it had decided to start originating its own mortgage loans again, shared more details on the start date of this new effort and the rationale behind it.

Washington Federal in Seattle reported higher quarterly profit due to gains from the sale of foreclosed properties and certain investments.

BB&T in Winston-Salem, N.C., met Wall Street's earnings expectations after reporting revenue rose slightly. The company's second-quarter net income available to shareholders rose 7% from a year earlier, to $454 million. Revenue increased 1.3%, to $2.3 billion.

Citigroup Inc., the third-largest U.S. bank, posted profit that beat analysts' estimates as Chief Executive Officer Michael Corbat showed progress on cutting costs.

The combination of swelling deposits and weak loan growth continues to be a tough problem for regional banks. U.S. Bancorp's Richard Davis thinks higher loan growth is just around the corner to solve the problem, but PNC's Bill Demchak fears deposits could flee faster than lending will ramp up.

PacWest Bancorp, the parent of Pacific Western Bank in Los Angeles, reported earnings of $85.1 million in the second quarter, up 16% from the prior quarter.

PNC Financial Services Group in Pittsburgh said its second-quarter profit declined, citing lower yields on loans and securities.

Wells Fargo executives received a host of questions Tuesday about the effect of rising interest rates on its deposits and other risk factors, but they said they cannot let uncertainty restrain their short-term actions and think some predictions about rates — especially on Treasuries — may be wrong.

Banks better get ready for a quick, steep increase in deposit costs after the Fed raises rates. Technology, new regulations and other factors have changed the slower-paced retail-banking game of old, JPMorgan Chase executives say.