Raises for the rank and file have fueled investor complaints that banks aren’t keeping a lid on expenses. Executives say the pay increases have lowered turnover and improved customer service. ... Read full article
The New York-based online lender plans to spend an additional $15 million next year, largely on bank partnerships and international expansion. ... Read full article
The Cleveland bank gave details on a program for trimming 5% in expenses next year in order to ensure its efficiency ratio goals are met. ... Read full article
The custody bank was very profitable, and it raised its cost-saving forecast for year-end, but its nearly 3% increase in third-quarter noninterest expenses prompted an investor backlash. ... Read full article
Strong net interest income and other factors made up for a drop in investment banking and other noninterest income at the Atlanta bank, which reported double-digit earnings growth. ... Read full article
Commercial and industrial lending rose 8% in the third quarter at the Cleveland bank, but other factors drove its double-digit gain in profits as overall loan growth was modest. ... Read full article
The Dallas bank has picked a bad time to shift from cost-cutting to expansion as big banks are in a commercial ending funk. ... Read full article
The largest U.S. bank's strong third quarter did not insulate its leaders from being pressed about the downside of pricey investments in technology, whether capital rules make commercial lending growth hard for big banks to achieve, and whether ... Read full article
Banks’ tab to fight hackers rose 9% from last year by one measure. Investors want them to rein in tech investments, but security experts say the crooks are getting smarter and smarter. ... Read full article
The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020. ... Read full article
The company said the move should address investor concerns about potential margin compression, slower loan growth and an economic slowdown. ... Read full article
Prosperity Bancshares in Houston said that its earnings increased 19% from a year earlier as its efficiency ratio rose. ... Read full article
Banks could shed as much as 20 million square feet of office space over the next five years as they shift many functions to high-tech operations centers in markets with cheaper rents. ... Read full article
Banc of California in Santa Ana will cut roughly 9% of its workforce as it looks to trim $15 million in expenses. ... Read full article
The Seattle company is firing 127 people, or a tenth of its mortgage staff, after enduring months of slow activity. ... Read full article
Whether they’re thwarting cyber thieves or building out new apps, bank chiefs say hefty tech investments are now a cost of doing business — but they have to convince shareholders. ... Read full article
The $1.9 trillion-asset bank is under pressure to provide investors more information about when it expects to resolve the numerous headaches that have arisen in the wake of its phony-accounts scandal. ... Read full article
The Chicago company will close 19 branches and eliminate 150 jobs, partially reflecting changing customer preferences. ... Read full article
The company said the move would help it become more efficient at a time when clients are making greater use of digital channels. ... Read full article
The Seattle company has faced criticism from an investor over its commitment to the business, which lost money in the first quarter. ... Read full article
