Commercial banking
Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.
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The hotel, retail and multifamily residential sectors are all showing signs of recovery, which is helping the regional bank. But company executives acknowledged that the firm's relatively large exposure to the office segment figures to pose challenges for some time.
April 17 -
The San Francisco bank identified "signs of weakness" and increased its loan loss reserves substantially. Small and midsize banks have significantly larger exposures than Wells does to the office segment, which has been hit by changing work habits.
April 14
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The Pittsburgh bank grew its deposits in the first quarter, even as the failure of two other regionals sparked outflows across the industry. But PNC executives warned Friday that rising funding costs could continue to eat into its net interest margin.
April 14 -
Startups were left reeling after SVB's failure. But there are challenges to serving young companies.
April 13 -
Despite growing concerns about fraud, bankers and credit union lenders say PPP provided a crucial source of capital, backstopping the economy as it faced an unprecedented challenge from the pandemic.
April 11 -
Lenders are bracing for more companies to fall behind on their loan payments. That could create more opportunities for banks to dispose of these nonperforming credits through an Article 9 sale.
April 7 -
JPMorgan's board of directors recommended shareholders reject three proposals for the bank to divest from fossil fuels, set new emissions reduction targets and detail 2030 decarbonization plans.
April 5 -
Some concerns linger over the sector after Silicon Valley Bank's collapse last month. The most pressing worry now, analysts say, is not whether banks will survive but how much money they'll make in the coming months.
April 5 -
Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.
April 2
