Commercial banking
The arrangement is designed to benefit commercial clients of both banks that operate on multiple continents. The companies reached the arrangement as part of the recent sale of Bank of the West.
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After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.
February 16 -
Banks that previously based more of their incentive compensation decisions on loan production are recalibrating this year. It is the latest sign of how competitive the deposit market has gotten.
February 12
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Proposals submitted to several of the largest U.S. banks seek stronger commitments on reducing financing for the fossil-fuel industry and 2030 greenhouse gas emission targets.
February 2 -
The Dallas-based company is rolling out a national investment banking unit as it seeks to serve clients through the entire business life cycle. It has also promoted three top-level executives into new roles.
February 2 -
North Carolina-based First Citizens blamed a rise in problem credit on certain office loans that it acquired in the CIT Group merger. Connecticut-based Webster also expressed caution about the segment, which has been impacted by remote work policies.
January 26 -
With the $7.5 billion acquisition, the Minneapolis bank bolstered its customer base in the nation's most populous state by more than 1 million. Earnings accretion from the combination could offset slower loan growth this year.
January 25 -
The Dallas-based company says noninterest expenses should grow by low double digits in 2023 now that the bulk of the investments related to its business transformation have been incurred.
January 23 -
The Cincinnati bank expects net interest income growth to cool considerably and fee income to tread water as rate hikes slow and inflation moderates but still continues.
January 19 -
CEO Bill Rogers stopped short of confirming or denying speculation that the bank is seeking a buyer for part of the unit.
January 19
