News Topic: Earnings

Wells Fargo & Co. is planning to operate under a Federal Reserve asset cap through the end of 2019, rather than just the first half of the year, as it takes longer than anticipated to correct issues in its consumer business. ... Read full article

The bank, which plans to host an investor day next month, didn’t provide any annual targets for 2019. The company said it expects net interest income to be little changed in the first quarter. ... Read full article

The bank missed expectations although profit rose 67%; with the California Democrat leading the House Financial Services Committee, deregulation could slow. ... Read full article

The company, which has yet to report quarterly earnings, said the moves will turn a profit over time. ... Read full article

CEO Michael Corbat will need to lean heavily on credit cards and other consumer business lines, and keep driving down costs, to offset weaknesses in capital markets. ... Read full article

Citigroup Inc. gave investors the first look at how Wall Street banks fared during the violent market swings at the end of 2018 — and it’s grim. ... Read full article

Trading revenue for banks is expected to be flat; the bank plans high deposit rates to lure corporate customers. ... Read full article

Some big investors think the recent selloff in bank stocks is overdone; despite new ways to pay, credit cards still dominate. ... Read full article

There had been a cascade in recent days of downgrades and other negative forecasts in connection with big banks, but some analysts on Wednesday picked up the industry's argument that fundamentals are stronger than the markets are giving banks credit ... Read full article

Bank OZK's George Gleason, one of our community bankers to watch in 2019, needs to rein in the Arkansas bank's commercial real estate exposure to placate nervous investors. ... Read full article

The settlement of a fight with an insurance company over officer and director coverage yielded a $6 million payout for FNCB in Dunmore. ... Read full article

Malaysia files criminal charges against Goldman Sachs over 1MDB; Wall Street banks hit by market volatility while small banks face margin compression. ... Read full article

Two U.S. senators demand an investigation into the German bank over security, criminal risks; the Treasury has proposed rules to help foreign banks deal with last year’s tax law. ... Read full article

U.S. earnings climbed 44% from a year earlier, aided by lower taxes, a widening net interest margin, record contributions from its stake in TD Ameritrade. ... Read full article

Royal Bank of Canada posted its highest domestic net interest margin in five years, pushing quarterly earnings past analysts' estimates and boosting annual profit from its Canadian banking division to a record. ... Read full article

Record bank profits could make it tougher to get more regulatory relief; banks monitoring older clients’ mental health. ... Read full article

Banks earned $62 billion in the third quarter thanks to tax reform and higher asset yields while the Deposit Insurance Fund crossed a statutory threshold. ... Read full article

The company will also restate financials for the first half of 2018 to correct how it classified cash flow activities tied to commercial mortgage warehouse lending. ... Read full article