The Los Angeles company said earnings fell 2% in the quarter as strong loan growth was offset by costs tied to its acquisition of CU Bancorp as well as a loss on the sale of a securities portfolio.
The Arkansas company's earnings fell 52% from a year earlier, reflecting a higher provision, a revaluation of its deferred tax asset and higher costs following a series of bank acquisitions.
Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has requested no funding from the Federal Reserve in the second quarter and instead will use reserves to fund the agency.
Highlights at the North Carolina bank included deposit service charges, CRE lending and wider margins, which all offset one-time costs related to tax reform.
A group of big financial institutions wants to use the blockchain to help resurrect the packaging of home mortgages into securities, a business that almost destroyed the global banking system in 2008.
Financial institutions are facing considerable uncertainty following the Department of Justice’s decision to rescind Obama-era guidance for the legal marijuana business, but there are steps they can take to reduce their risks.
America's biggest banks just spent a week regaling shareholders about brighter days ahead, when tax cuts add billions of dollars to the firms' annual profits. About 8,000 people are getting left behind.
The Buffalo-based company donated a record $50 million to its charitable foundation to honor its former CEO Robert Wilmers, who passed away in late 2017.
The bank’s innovation unit hopes some of the students it takes in from 12 universities including Columbia, NYU and Texas will end up working at Citi someday or creating startups it can partner with.
