News Topic: Earnings

Facebook CEO says the company won’t purse Libra anywhere if U.S. regulators disapprove; the agency says “guidance” was actually “rules.” ... Read full article

Midsize players like BankUnited, BOK and Fulton Financial plan to rely on selective M&A, catering to niches overlooked by big banks, aggressive recruitment of commercial lenders and other strategies to stimulate revenue growth. ... Read full article

Huntington Bancshares and U.S. Bancorp also said in recent days that they are eliminating jobs to reduce overhead and improve profits. With net interest margins shrinking and branch traffic continuing to decline, expect more banks to follow suit, analysts ... Read full article

Executives say they are passing on more loans as bank and nonbank competitors cut rates and forgo traditional safeguards. ... Read full article

It has already been modifying more problem loans and investing in efforts to recover charged-off loans, and now the credit card lender is ready to tighten underwriting in case the economy weakens. ... Read full article

The company says the upgrade will support future digital investments. It also said Tuesday that third-quarter profits climbed 8% but reported a sharp increase in criticized business loans. ... Read full article

Amid concern that an economic downturn is approaching, Greg Carmichael said that banks need to focus on credit quality and not worry about expanding their balance sheets. ... Read full article

The Columbus, Ga., company had been counting on increased volume to offset a squeeze in net interest margins. ... Read full article

Ellen Alemany said that CIT's deal for Mutual of Omaha Bank will immediately lower the bank's deposit funding by 20 basis points. She also reiterated that the acquisition would make CIT more attractive to potential buyers. ... Read full article

Declining interest rates took a toll on its profit margin, but the Salt Lake City company still beat earnings expectations in the third quarter. ... Read full article

Santander Consumer is planning to attract online deposits via a national platform that could rival Goldman Sachs’s Marcus; HSBC is now in retrenchment mode after aiming for growth. ... Read full article

Count Citizens Financial’s Bruce Van Saun among those who think interest rate cuts could halt by mid-2020. The key, he says, is to focus on delivering services customers are willing to pay fees for and to skillfully reprice deposits until then. ... Read full article

The big five banks had divergent results; San Francisco Fed publishes 18 papers on the dangers posed to businesses and communities by climate change. ... Read full article

Commercial lending provided a boost for some regional banks in the third quarter, but further rate cuts and a slowing economy could challenge future growth. ... Read full article

The banking industry will continue its fight against the credit-loss rule; the bank posted gains in consumer, wealth management and commercial lending. ... Read full article

The Pittsburgh company’s “branch lite” approach to retail and middle-market banking in new markets will break even sooner than expected and has had a noticeable impact on loans and deposits. ... Read full article

The Minneapolis company attributed the uptick to new tech tools, additional loan officers and other process improvements — not to mention the refi boom fueled by lower rates. It’s a formula other banks are expected to copy. ... Read full article

The Dallas company also warned of a decline in net interest income this quarter due to the anticipated impact of Federal Reserve interest rate cuts on loan yields. ... Read full article