Executives at Key pushed back against doubts over a deal for Laurel Road Bank’s digital lending platform so late in the credit cycle, arguing that its customers are prime borrowers with high incomes.
Bankers complain that the quasi-governmental system's new program designed to make more residential loans in four states goes well beyond its original mission.
The Ohio company touted a strong pipeline for loans but warned that noninterest costs will likely rise in the fourth quarter when it records charges tied to branch closings.