News Topic: Revenue and expenses

The company will close branches and cut jobs, with plans to reinvest some of the savings into digital enhancements. ... Read full article

The company will close eight locations, noting that customers have been quick to adopt digital channels during the coronavirus pandemic. ... Read full article

The North Carolina company had promised regulators not to close large numbers of branches until December. Meanwhile, vendor contracts, leases and other hurdles have made it hard to accelerate efforts to offset a sudden decline in revenue. ... Read full article

The Illinois company will shutter 17 locations, or about 15% of its branches, early next year. ... Read full article

Third-quarter net income dropped nearly 16% from a year earlier as revenues at the company's consumer unit declined at about the same pace and trading revenue gains were below estimates. ... Read full article

The company posted a surprise increase in third-quarter expenses as it set aside almost $1 billion for customer remediation and $718 million in restructuring charges. ... Read full article

Low rates and intense competition might lead some banks to ease underwriting standards in 2021, when the economy may not yet have recovered. ... Read full article

Many sectors are concerned about making money in an economic downturn, but those fears are higher in the financial sector, according to a study from Arizent. ... Read full article

The company joins a growing list of community banks paring back their networks. ... Read full article

The moves are intended to offset a protracted period of historically low interest rates and expectations of higher credit costs in 2021. ... Read full article

The company will shutter a fifth of its locations, while reinvesting some of the savings in its digital banking platform. ... Read full article

Deal activity, already on pace for its slowest year in more than two decades, will likely remain suppressed until bankers get a handle on credit exposure and more clarity on valuations. ... Read full article

“What COVID has done for us is it has showed us where to prioritize investments,” William Demchak said at an industry conference in discussing the Pittsburgh company's plans to speed up the shift to digital banking. ... Read full article

The company joins a growing list of banks shuttering locations as customers flock to digital channels. ... Read full article

Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations. ... Read full article

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut. ... Read full article

Several community banks that put buybacks on hold during the pandemic’s earliest days have recently authorized new plans, signaling an easing in regulatory pressure and greater comfort with capital levels. ... Read full article

The company also plans to shed some corporate office space by the end of this year. ... Read full article