Profits fell 42% at the Birmingham, Ala., bank because of a $121 million tax charge in the fourth quarter, but net interest income and noninterest income each rose 14%, softening the blow of the one-time tax hit.
House and Senate bills contain a provision that would let financial firms in all states use digital scans of photo IDs to verify identities of prospective customers. That could ease the account-opening process for consumers in areas where branches are few and far between.
The regional bank’s first-year CEO is doing some expected things, like offering more products through digital channels, and making a few surprising moves, like inviting all credit card customers to switch to lower-rate loans.
When Apple or Google releases a new version of its operating system, banks are forced to respond by updating their mobile apps—running just to stay in place. Next month's release from Apple is especially challenging.
Oil prices are dropping again, but some lenders think now is the time to recommit to energy lending as long as they underwrite them a certain way for certain borrowers in certain regions.
