Visa Inc. braved a stronger U.S. dollar and a decline in consumer confidence even as its customers’ spending overseas continued to slow during the first three months of the year.
Now that the Cincinnati company recently completed its first bank acquisition in over a decade, CEO Greg Carmichael is pushing ahead on tech hires and expansion outside its Midwestern core.
CEO Kessell Stelling said he thinks about Synovus' depressed stock price daily, even though his team is ahead of schedule cutting costs from a deal that closed in January.
Fifth Third Bancorp in Cincinnati also closed on its purchase of MB Financial and benefited from increases in corporate banking revenues and a slight improvement in credit quality.
The Salt Lake City bank saw growth across all lending categories and an improvement in credit quality. It also said it has finished the second of three stages in its multiyear conversion to new core-banking technology.
The two banks, which plan to complete their merger by early fall, have little geographic overlap, so they can keep lending teams in place and push for immediate loan growth, according to Craig Dahl.
