Merger- and tax-related charges took a bite out of fourth-quarter profits at the Cleveland company, but its CEO emphasized that a recent deal and tax reform are promising for growth.
Bank says most of the benefits from tax reform will be used for dividends and buybacks; Michael Loughlin will stay on until his replacement is named later this year.
The Mississippi company reported strong loan growth, even as it reduced exposure to energy-related borrowers. Higher revenue also helped Hancock lower its efficiency ratio.
FHFA Director Mel Watt said Fannie Mae and Freddie Mac should be reincorporated as private entities and the government must provide an explicit guarantee for catastrophic losses in the secondary mortgage market.
The Consumer Financial Protection Bureau faces significant obstacles in reopening the payday lending rule including likely legal challenges and a lengthy compliance process with the Administrative Procedure Act.
Mark Calabria, chief economist to Vice President Mike Pence, said passage of the regulatory relief bill could be delayed as policymakers deal with other items such as budget deadlines and an infrastructure bill.
