People's Bank of Commerce in southern Oregon decided it had to diversify to survive, so when a director heard a factoring firm he co-founded was up for sale, the bank seized the moment. Now it has other deals in mind.
Darryl White sees an opportunity for Bank of Montreal to take more market share in the United States, and he’s betting on investments in mortgage lending, commercial banking and capital markets to get there.
If the Fed order is lifted quickly — a big if — then the impact on Wells should be minimal. But if it lingers past 2018, then the bank could find itself on the losing end of the battle for customers and top talent.
Credit standards for commercial loans to medium and large firms showed some signs of easing over the last three months of 2017, even though demand stayed relatively unchanged.
Commercial lending and mortgage income surged in the fourth quarter at the West Virginia bank thanks to two acquisitions, but a tax charge cut into profits.
The Minnesota bank was able to realize a large net tax benefit in the same quarter it took a big charge to exit auto lending, so in the end its profits doubled.
