The Stamford, Conn.-based credit card issuer saw improvement in late payments by its customers, but the pace of loan growth also slowed during the fourth quarter.
Buying Capital Bank Financial helped boost revenue by 17% in the fourth quarter, but one-time charges related to recent tax cuts dragged down the Memphis company's profits.
It was thought tax cuts could fuel a rise in bank deals, but regionals seem to be leaning toward digesting what they have already bought, pursuing smaller, nonbank deals and rewarding shareholders.
The Los Angeles company said earnings fell 2% in the quarter as strong loan growth was offset by costs tied to its acquisition of CU Bancorp as well as a loss on the sale of a securities portfolio.
The Arkansas company's earnings fell 52% from a year earlier, reflecting a higher provision, a revaluation of its deferred tax asset and higher costs following a series of bank acquisitions.
Merger- and tax-related charges took a bite out of fourth-quarter profits at the Cleveland company, but its CEO emphasized that a recent deal and tax reform are promising for growth.
The Mississippi company reported strong loan growth, even as it reduced exposure to energy-related borrowers. Higher revenue also helped Hancock lower its efficiency ratio.
