The Alabama bank has named one of its own to head up the company’s property and casualty insurance business, and it has made a key hire in its health care banking group.
Look for banks to boost dividend payouts, expand into new markets, increase their tech spending and, eventually, ramp up their C&I lending. But don't expect much in the way of M&A.
Citizens Financial, Regions and SunTrust reported strong gains in consumer banking, including loans made through partnerships with retailers and fintech lenders. They want to keep it up to compensate for slack in commercial lending.
Dueling blockchain stories — one arguing it was virtually useless, the other saying it could change real estate lending — seized the top spots this week, while readers also focused on tax reform aftermath and a key Senate retirement.
Banks have been in full cost-cutting mode in recent years, but with profits expected to increase substantially as a result of tax reform, all analysts and investors want to know is how they plan to spend their tax savings.
Regional and community banks will offer low-cost or no-cost financial products through Bank On, which has already reached agreements with Regions Bank, Wells Fargo and SunTrust.
In a year of political upheaval and weak commercial credit growth, lenders sought to capitalize on an economic bright spot — consumer spending — by reviving the personal loan, allying with fintechs and exiting traditional business lines that no longer made sense.
During an industry conference Tuesday, executives from PNC, Wells Fargo, JPMorgan Chase and elsewhere offered differing takes on whether the Republican tax plan will boost loan demand.