Regional banks

TCF chief Craig Dahl to retire

10/26/20

The Detroit company said that David Provost, former CEO of Chemical Financial, will become its CEO.

[more]

Fifth Third promotes Tim Spence to president. Is he next CEO?

10/26/20

Spence’s promotion to president could signal that the Cincinnati banking company is grooming him as a potential successor to Chairman and CEO Greg Carmichael.

[more]

Customers have turned cautious and banks are getting pinched

10/25/20

Deposits have piled up, curtailing overdrafts and other fees. The trend could force lenders to find other ways to make money — or start cutting to the bone.

[more]

4Q will be commercial real estate’s big reveal, M&T says

10/22/20

Many of the Buffalo, N.Y., bank’s commercial loans have exited forbearance granted in the early days of the pandemic — except hospitality and retail, which were given longer dispensation.

[more]

Fifth Third defends decision to release loan-loss reserves

10/22/20

The Cincinnati company, one of just a handful of lenders to reduce its cushion against bad credits in the third quarter, was grilled by analysts who suggested it was being too optimistic about the long-term effects of the pandemic recession.

[more]

Comerica prioritizes forgiveness of larger PPP loans

10/20/20

The Dallas bank has begun encouraging larger borrowers to seek forgiveness of Paycheck Protection Program loans first as it holds out for the government to streamline the process for loans below $150,000.

[more]

Ex-Trump adviser Cohn predicts bleak future for community banks

10/19/20

Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.

[more]

Nonbank acquisitions pay off for Citizens

10/16/20

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.

[more]

What’s behind the unlikely First Citizens-CIT deal

10/16/20

The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.

[more]

U.S. Bancorp eyes another 15% reduction in branches

10/14/20

The Minneapolis company says the majority of branches earmarked for closing have already been shuttered for months due to the pandemic. Some of the savings will be plowed back into digital expansion.

[more]