Revenue and expenses

Government stimulus efforts, including the Paycheck Protection Program, have fueled a deposit surge. The challenge for banks is figuring out how to put that new money to use.

The Minneapolis company said 75% transactions have been handled online since the pandemic hit.

Home purchases in markets outside of cities accounted for some of the San Francisco bank's loan growth. Executives believe this will be a long-term trend because a generous supply of inventory in less populated areas will appeal to buyers.

Several big bank mergers fell apart after the coronavirus hit. But Bryan Jordan, First Horizon's CEO, said the pandemic validated plans to cut costs and invest more in digital upgrades.

The company said its plan to shutter 12 locations reflects "increased client usage of online and mobile banking and a commitment to improve digital banking technology."

The Arkansas bank is selling its two branches in the state to Merchants & Marine Bancorp and FEB Bancshares.

The report from the regulator offers an industry-wide look at how credit unions have fared during the pandemic. Since the outbreak worsened in April and into May, credit quality could possibly worsen while earnings may sag even further.

In spite of the pandemic, the Columbus, Ohio-based corporate credit union was able to return the funds to some owners on the strength of strong earnings through the firs two quarters.

CB Financial Services, Mercantile Bank and Nicolet Bankshares said they would shutter a total of 12 branches.

A recent blog post argues that the industry must get ready for the possibility of the Federal Reserve lowering rates below zero.