Expense management

Will HSBC's patience on fate of U.S. retail unit pay off?

02/23/21

The London company poured cold water on speculation a deal to divest its 152-branch network in the United States was imminent. But biding its time here while focusing on issues in other parts of its global operation could drive up the price in a seller’s M&A market.

[more]

Cullen/Frost takes 'difficult step' of cutting jobs

02/02/21

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.

[more]

Trust banks under extra pressure to cut expenses

02/01/21

Bank of New York Mellon, State Street and Northern Trust have even more reason to slash costs than commercial banks because their options to boost revenue are more limited. Problem is, they also have fewer cost-cutting options.

[more]

Synovus raises cost-cutting goal, preaches patience

01/26/21

The Georgia company increased its target for annual expense cuts and new revenue to $175 million from $100 million. But executives warned that low interest rates and weaker mortgage volume, along with a need to invest in technology, will delay some of the bottom-line benefits.

[more]

Bank of Hawaii, National Bank Holdings join list of banks closing branches

01/26/21

The companies are reacting to an ongoing shift in customer preferences to digital channels.

[more]

What will drive bank M&A in 2021

01/24/21

Mergers and acquisitions were largely on ice in 2020, but banks' mounting need to control expenses and invest heavily in technology could spur a comeback this year.

[more]

First Horizon squeezing more cost savings from Iberiabank deal

01/22/21

Pandemic-induced shifts in how people work and bank will allow the Tennessee company to shed more branches and office space. It now projects it will slash expenses by an additional $30 million a year.

[more]

People's United plans to close 140 in-store branches

01/21/21

The Connecticut company said it will take several years to shut down the locations, which are located in Stop & Shop stores. About 80% of the branches are within five miles of traditional locations.

[more]

U.S. Bank accelerates branch closings as more customers go digital

01/20/21

Hundreds of branches temporarily shuttered during the pandemic are now permanently closed.

[more]

Wells Fargo pledges to cut $8 billion in overhead. Is it enough?

01/15/21

CEO Charlie Scharf’s long-awaited expense-reduction plan got a chilly reception from investors.

[more]