The biggest bank in the U.S. will temporarily close 20% of its branches, following recommendations by health experts. It said it would also operate its remaining branches at reduced hours.
They are under less pressure from policymakers to halt repurchase plans, but some have already hit the brakes and others may unofficially do so if the pandemic worsens.
The Fed’s decision to cut its benchmark interest rate amid growing coronavirus concerns is bound to have an impact on banks, but just how broad and how deep remains to be seen.
The acquisition of the Texas-based lender will help Regions expand its offerings to small businesses while adding about $2 billion of loans to the bank's balance sheet.
Total loans at Regions Financial fell slightly last year, but executives say a shift in consumer lending priorities and more aggressive C&I lending will start to pay off this year.
BB&T and SunTrust showed that big-bank mergers are still possible, but top executives at other large regional banks say that a knee-jerk response would be a mistake.