News Topic: Expense management

Profits at the custody bank rose 16%, but it announced a new streamlining program that is expected to generate yearly savings of $250 million by 2020. ... Read full article

Total revenue rose less than 1% to $21.8 billion, but expenses declined 2.5% to $13.1 billion. That computed to the highest profit at Bank of America in six years. ... Read full article

The company had strong gains in construction lending and trust fee income, but its business lending operation had flat results. ... Read full article

Overall net income rose 8% to $4.13 billion as cost control helped overcome shortcomings in global consumer banking profits and bond trading revenue. ... Read full article

The Seattle company, which has cut about 130 positions in the business in recent months, pointed to lower originations tied to a shortage of new and resale housing. ... Read full article

The Dallas company has extinguished talk of a potential sale after aggressively cutting costs over the past year. But concerns about its future — including its ability to find new sources of revenue — remain. ... Read full article

Chemical Financial's decision to shutter nearly 40 branches and cut more than 200 jobs is due to improved technology and an effort to become more efficient after years of pursuing acquisitions. ... Read full article

The Michigan company said the branch closures will save it $20 million a year. It also plans to devote fewer resources to indirect auto, where returns have trailed other lending categories. ... Read full article

The Wisconsin company plans to shutter half of Bank Mutual's branches, including seven in Milwaukee. ... Read full article

The company says the tracking devices are a way to reduce office space and know when shared workstations are free, but "hot-desking" also raises questions about whether employees are being spied on. ... Read full article

After posting a second quarter of revenue growth and with plans to return another $2 billion of cash to investors, departing boss Stuart Gulliver’s six-year turnaround of HSBC Holdings might finally be gathering momentum. ... Read full article

The Louisiana company, which recorded a large loan-loss provision to cover energy-related chargeoffs, also disclosed a new regulatory order from the Office of the Comptroller of the Currency. ... Read full article

The Cincinnati company reaped the benefit of the latest round of interest rate hikes, as a higher net interest margin and lower costs helped overcome the drop in lending. ... Read full article

The Rhode Island bank plans to build out its fee income capabilities, expand C&I lending in the Southeast, renegotiate vendor contracts and take other steps to produce expense cuts and revenue enhancements of at least $90 million. ... Read full article

The Cleveland company, once criticized for an initial six-year forecast, now believes it will only take four years to rebuild its tangible book value. ... Read full article

The regional bank reported an 8% gain in fee income and trimmed costs amid 1% loan growth. ... Read full article

Second-quarter profit improved modestly at Northern Trust as severance costs offset growth in trust and institutional services. ... Read full article

The Dallas company is in the middle of a dramatic turnaround after scaling back on energy loans and slashing expenses. Still, followers of the company seek assurances that the discipline will endure. ... Read full article