The California company's credit issues eased some in the first quarter, though earnings were down from a year earlier due to charges tied to cost cutting and reductions in three loan categories.
Fees from capital markets activities have propelled profits at several regional banks when they needed it —and just as the Glass-Steagall redux crowd wants to kill it.
The Wisconsin regional's profits rose 35% in the first quarter on healthy loan growth, wider margins and an improved efficiency ratio while saying its "satisfactory" CRA rating had been restored.
Executives at BB&T, KeyCorp and Citizens are milking commercial lending niches and balancing cost control with new investments while waiting for more rate hikes to fatten margins.
The "Citizens Checkup" program to help customers set financial goals has come under fire, but CEO Bruce Van Saun says it is valuable and "here to stay," and that the criticism of it pales in comparison to the Wells Fargo scandal.
