Nearly a third of NBT Bancorp's revenue comes from fee businesses, though it took patience, several acquisitions and a tolerance for added regulation to get there.
A sharp decline in capital markets fees at the Minneapolis company shows tepid loan growth is not the only side effect of tax reform at banks. How hard will it be to bounce back?
The deal for Retirement Plan Services, which provides recordkeeping for employers nationally, is NBT's fourth acquisition of a retirement services firm since 2015.
Rep. Maxine Waters, D-Calif., questioned Bank of America's decision to discontinue free online checking accounts used by many low-income consumers in light of the bank's recent profits and corporate tax cuts.
The Portland, Ore., company has hired four private bankers from City National as part of a broader effort to provide a full range of services to business owners and high-net-worth households in Orange County and San Diego.
