Regional banks

With virus cases in its home state hitting their highest level since February, the San Antonio company declined to release reserves — a route that many banks took to boost their second-quarter profits.

The Rhode Island bank is doubling down on the nation’s largest market after agreeing in May to buy dozens of branches from HSBC. Meanwhile, Investors Bancorp’s decision to sell itself underlines the challenges facing smaller regionals.

Combined with its pending acquisition of HSBC's East Coast branches, the deal would give the Rhode Island-based Citizens a top-10 deposit market share in metropolitan New York.

Small Business Administration lenders have reported strong quarterly results, but those gains could evaporate later this year. Here’s why.

A flurry of activity in recent weeks has prompted chatter on earning calls about banks’ merger ambitions. While some CEOs bemoaned high asking prices, others said they are making more inquiries, identifying targets and, in some cases, closing in on deals.

Comerica, which focuses on the energy sector, reported strong payment trends last quarter, while M&T, which concentrates more on real estate, showed deterioration. The divergence reflects varying exposures to sectors hit hard by the COVID-19 recession.

PNC, Regions and TD are among the banks that have taken steps to reduce their reliance on charges that disproportionately hit consumers living paycheck to paycheck. The changes come at a time when the Biden administration is expected to take a tougher stance on overdrafts.

Andrew Harmening, who took the helm of the Wisconsin company in April, pointed to an economy emerging from the pandemic and waning loan deferrals, saying that loan growth could resume by the end of the third quarter.

Cannabis, though still illegal at the federal level, continues to inch into the financial mainstream. Small credit unions and lenders as large as Valley National and East West have moved beyond just taking deposits from marijuana companies.

Adding Community Bankers Trust would help United fill a key service gap between its branches in Northern Virginia and the Carolinas. It's United’s 33rd M&A deal under CEO Richard Adams.