The Salt Lake City company reported a 21% increase in second-quarter profits, even as its decision to scale back commercial real estate lending muted overall loan growth.
Despite some green shoots in key credit segments, total loan growth was light at many banks last quarter. Rate hikes are threatened, and deposits will get pricier — where will the earnings come from?
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The Birmingham, Ala., bank also saw lending decline in the quarter as strategic reductions in certain business lending lines offset gains in C&I and consumer.
