Despite merger-related charges, the Cleveland bank's first-quarter profit climbed 63% as the addition of a million new customers led to strong gains in both interest and fee income.
First-quarter earnings at the Providence, R.I., company jumped 45% thanks partly to improvements in its net interest margin, 7% loan growth and stronger card and other noninterest income.
The North Carolina company reported lower net income from a year earlier after extinguishing nearly $3 billion in FHLB advances. BB&T also reported more regulatory charges as it deals with a consent order.
Texas Capital Bancshares sharply reduced the size of its loan-loss provision as credit quality improved in its energy loan book. That helped the Dallas bank post a 77% rise in first-quarter profit.
The Mississippi company's first-quarter earnings rose 60% from a year earlier. Its results from last year were weighed down by a settlement with regulators.
Huntington, Wintrust and Eagle reported extremely low quarterly chargeoff ratios, and their CEOs say they remain confident about the future. But, as one observer says, "ultimately some sector is going to get overextended."
New boss Andy Cecere's first year on the job will likely be defined by how he tackles the challenges in front of him, including keeping the company’s highly watched efficiency ratio in check and managing pitfalls in auto-lease financing.
The Ohio company said it is retaining more FirstMerit deposit accounts than it had projected. At the same time, Huntington is moving forward with cost-cutting tied to the acquisition.
