Commercial banking
The Southeast regional bank plans to use the deal's sizable proceeds to pay down wholesale borrowings and restructure its securities portfolio. Numerous banks have made similar moves in recent months.
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The Dallas company, which is in the midst of a four-year business overhaul, is facing a margin squeeze in the coming quarters. But even as analysts express skepticism, company executives aren't budging from the profitability goals they set two years ago.
October 23 -
The Federal Reserve Board and state regulators signed off on the $1 billion deal, paving the way for a late 2023 closing. The approvals were significant given that other large combinations have run into trouble.
October 23
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Three years removed from the Black Lives Matter protests, banks have not fulfilled their promises to help close the racial wealth gap.
October 23 -
Other regional banks are vowing to cut costs, but Huntington Bancshares CEO Steve Steinour says the Columbus, Ohio-based lender is well positioned to "play offense" in 2024.
October 20 -
High deposit costs and low-yielding assets weighed on the company's net interest income, which fell to its weakest level since the first quarter of 2017. But Key executives predicted that a turnaround is coming soon.
October 19 -
Six weeks after unveiling a broad restructuring plan, the North Carolina bank said it has already taken several steps to lower expenses, and that various cost-reduction initiatives are on parallel paths.
October 19 -
The Rhode Island-based bank is bolstering its cash position in the face of worries about office loans, stricter capital requirements for regional lenders and the possibility of economic shock from overseas conflicts.
October 18 -
The $668 billion-asset company sold investment securities and certain mortgages to avoid more stringent liquidity and other federal requirements for larger banks. Yet CEO Andy Cecere says U.S. Bancorp is "not under an asset cap at all."
October 18 -
The Tennessee bank said a $72 million charge-off tied to a borrower in bankruptcy shaved 10 cents per share off its earnings. Management downplayed the issue, calling it "idiosyncratic," and emphasized that it was growing its loan portfolio.
October 18
