The New York bank will double in size while gaining greater access to Long Island and low-cost deposits that should come in handy as interest rates rise.
Vacancies and rent-slashing have some banks worried that certain markets are overheating, but others say the decline in nonperforming loans is a sign the sector has never been healthier.
KPMG said Webster did not properly document a change in the way it calculates its provision for loan losses. The bank does not expect to restate its financial results or incur any meaningful increase in costs because of the problem.
Banks are seeing mostly positive or neutral trends in loan demand and broader economic indicators in the first six weeks of 2017 and are upbeat about future prospects, according to the Fed's Beige Book.
The largest U.S. bank’s yearslong effort to do more business with midsize commercial firms has progressed in fits and starts but never met expectations. More patience will be required, but executives say the payoff could be sooner rather than later.
If Washington lowers taxes as much as banks and the rest of corporate America hope, it will yield a bonanza of earnings per share, new tech investments or investor dividends … right? Not exactly, bank leaders warn.
