News Topic: Earnings

The company's Silicon Valley Bank unit reduced its loan-loss cushion by $52 million. Private-equity and VC clients have warmed to the practice of doing deals virtually, which increases lending opportunities, SVB executives said. ... Read full article

The Memphis company is looking to take out more costs than initially planned due to the economic uncertainty brought on by the coronavirus pandemic. ... Read full article

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche. ... Read full article

The Connecticut company, which began reviewing its operations in January, said the effort gained momentum when the coronavirus pandemic hit. ... Read full article

Many of the Buffalo, N.Y., bank’s commercial loans have exited forbearance granted in the early days of the pandemic — except hospitality and retail, which were given longer dispensation. ... Read full article

The Cincinnati company, one of just a handful of lenders to reduce its cushion against bad credits in the third quarter, was grilled by analysts who suggested it was being too optimistic about the long-term effects of the pandemic recession. ... Read full article

Discover Financial Services shares surged after the company said spending on its cards improved in September, the first increase during the pandemic. ... Read full article

The company, which shuttered six locations in September, plans to close 14 more branches by the end of this year. ... Read full article

The Oregon company unveiled a sweeping cost-cutting plan that includes more remote work opportunities and up to 50 branch closures. ... Read full article

The company will close branches and cut jobs, with plans to reinvest some of the savings into digital enhancements. ... Read full article

The Cleveland company will exit indirect auto lending and close branches so it can devote more resources to mortgages, student loans and other relationship-driven, digital-friendly businesses. ... Read full article

The coronavirus pandemic has spurred more private buyers to acquire senior care homes, and the Oklahoma lender is eager to back them. ... Read full article

Banks have managed to steer around trouble spots in energy, hotel and mall-related credits. But fears of further deterioration, an eviction wave or more job losses are keeping lenders circumspect. ... Read full article

Weak loan demand, persistently low yields and the continued struggles of sectors such as hospitality and retail are among the myriad lending challenges facing small regional banks. ... Read full article

The new policy will allow the company to close some work sites and reduce the size of others. It’s part of a broader effort to cut expenses to help offset revenue declines brought on by the coronavirus pandemic. ... Read full article

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses. ... Read full article

The North Carolina company had promised regulators not to close large numbers of branches until December. Meanwhile, vendor contracts, leases and other hurdles have made it hard to accelerate efforts to offset a sudden decline in revenue. ... Read full article

The New York bank, which is conducting a search for its next leader, also said it expects to report strong third-quarter earnings. ... Read full article