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The Birmingham, Alabama bank cut down its workforce across divisions as higher interest rates put pressure on its business.
February 1 -
The Los Angeles company has sold $6 billion of loans and securities since buying PacWest in November. CEO Jared Wolff said it might get smaller still as it strives to boost profitability.
January 25 -
The Tennessee-based bank was forced to keep operating on its own after a proposed acquisition was called off. Months later, First Horizon has picked up new customers and improved its profitability, but investors remain cautious amid plans for catch-up spending on technology.
January 23 -
Despite a surge in quarterly expenses in the fourth quarter and a projected uptick in the first quarter, the North Carolina company is standing by its expense guidance for 2024.
January 18 -
After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.
January 17 -
The custody bank is managing expectations about its 2024 performance while assuring investors that profits will improve significantly in the medium term. AI is one path it's pursuing.
January 12 -
Royal Bank of Canada hopes to save money by moving positions from high-cost California to Vancouver. The Toronto-based company is looking to cut costs as it seeks to bolster the earnings of its Los Angeles-based City National Bank subsidiary.
January 10 -
Banks large and small are selling some or all of their insurance subsidiaries, enticed by the high prices they're being offered. Here's a rundown of the deals that were struck in 2023.
December 22 -
Across the industry, the pace of branch shutdowns slowed this year. Still, large financial institutions continued to trim their physical footprints, with two super-regional banks taking the most aggressive actions.
December 15 -
The megabank, which is in the midst of a massive restructuring, will probably book "a couple of hundred million dollars" of restructuring charges in the fourth quarter, according to its chief financial officer.
December 6