The company, which recently bought Sabadell United in Miami, is pledging to make billions of dollars in mortgages and small business loans in low- and moderate-income communities.
A securities settlement, portfolio asset sales and greater interest among smaller lenders helped Freddie Mac compensate for potential losses from the catastrophic hurricane season.
The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders.
Harvey slammed the Houston area this summer, but Prosperity Bancshares' profit dropped only slightly in the third quarter, and it described the financial impact as "manageable."
The Salt Lake City bank reported strong 3Q results despite unexpected expenses tied to hurricane damage in its Texas market, and it vowed to stay on track in meeting its cost-savings goals.
