BOK Financial benefited from rising interest rates in the third quarter even as it reported declines in fee income and commercial real estate loan balances.
The traditional community bank model of "being local and providing good service" no longer provides an competitive edge in a world dominated by online banking, according to Douglas Kennedy, CEO of Peapack-Gladstone.
Loan growth drove the New York bank’s 20% increase in third-quarter earnings, and those results don’t include its acquisition of Astoria Financial this month.