News Topic: Revenue and expenses

Robert Kafafian says he's hearing more MOE chatter now than at any time in his decades-long career as a consultant. He cited smaller banks' need to cut costs, improve tech offerings and compete with bigger lenders. ... Read full article

The company, which reported a large third-quarter loss in October, plans to sell or shutter a quarter of its locations. ... Read full article

The New Canaan, Conn., company said it will record a pretax expense of $3.9 million in the fourth quarter related to branch and office closings, severance payments and the end of a vendor contract. ... Read full article

One engineered a big M&A deal, another struggled with his bank's credit issues and another abruptly resigned. Here are their stories and more. ... Read full article

The company adds to a growing list of banks shutting branches to invest in technology offerings. ... Read full article

Management teams are forging ahead with technology projects and bonuses for some employees despite a deep slide in net income this year. ... Read full article

The Pittsburgh company also sold a portfolio of indirect auto loans and repaid a large amount of Federal Home Loan Bank borrowings. ... Read full article

Credit quality has remained strong at credit unions, but there are hints that some of them — especially the smallest ones — could report lackluster earnings well into next year, according to the National Credit Union Administration's latest intel on ... Read full article

The company is looking to shutter 10 of its 63 branches over coming months, reflecting a shift in customer preferences. ... Read full article

First Horizon, TCF and Webster are among the banks eyeing efficiency initiatives that could include more branch closings, layoffs and reduction of office space. Expect others to follow suit as low rates and tepid loan demand tied to the pandemic pressure ... Read full article

The Virginia company, which shuttered 14 locations in September, will close another five branches early next year. ... Read full article

Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most ... Read full article

Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized. ... Read full article

Craig Dahl said working seven-day weeks to shepherd the integration with Chemical and then the combined company’s coronavirus response led to his abrupt retirement. ... Read full article

The global bank, which has already closed more than 30% of its U.S. branches this year, indicated that the pandemic is prompting it to adjust its plans on the fly. ... Read full article

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. ... Read full article

The about-face followed a swift backlash from affected employees, who earn more than $250,000 a year, according to people with knowledge of the situation. ... Read full article

The Connecticut company, which began reviewing its operations in January, said the effort gained momentum when the coronavirus pandemic hit. ... Read full article