Mariner Kemper, UMB's chief executive, said he struggled with the decision to sell Scout Investments to Raymond James. Selling made more sense than pumping more capital into the beleaguered business.
Despite merger-related charges, the Cleveland bank's first-quarter profit climbed 63% as the addition of a million new customers led to strong gains in both interest and fee income.
The Ohio company said it is retaining more FirstMerit deposit accounts than it had projected. At the same time, Huntington is moving forward with cost-cutting tied to the acquisition.
The Mississippi company reported loan growth but a dip in profits after a first-quarter acquisition, and it warned that it is on alert for any new “lag” in the energy sector.
The Columbus, Ga,, company also announced late Monday that it is buying the credit card assets and brokered deposits of the retailer Cabela's and will then sell the card portfolio to Capital One.
Bank earns $75 million for saving Bass Pro Shops's acquisition of rival outdoor retailer; Trump to name Randal Quarles as Fed's vice chairman for bank supervision.
