CEO Greg Carmichael says the Cincinnati bank will hire bankers in Denver, Dallas and Houston as part of a broader expansion into fast-growing markets that are home to lots of midsize firms. It is also interested in buying more fee-based businesses.
Smaller institutions are booking loans at a faster clip than bigger lenders, raising concerns that they are relaxing standards in order to win business.
Now that Wells must abide by the central bank's asset cap through year-end, it may have to divest more nonessential assets and take other steps to open up room for core loan growth.
Loans grew 6% at JPMorgan Chase, but the bank is "not going to be stupid" and assume that will last forever, its CEO says. Here are some precautionary steps it's taking.
