News Topic: Revenue and expenses

Executives and boards are bracing for elevated loan losses and stagnant revenue, which will mean more conversations about belt tightening as opposed to added investment. ... Read full article

Ulule is working with Bank of the West to build name recognition. It hopes to collaborate with other banks and credit unions as it vies with larger companies such as Kickstarter and GoFundMe. ... Read full article

The Massachusetts company is laying off more than 40 employees with a focus on people working in its retail banking operations. ... Read full article

The coronavirus pandemic has created major credit issues at the Boston bank and stymied efforts to improve profits, fueling speculation that the onetime serial acquirer could be a takeover target. ... Read full article

The prepaid card company benefited during the second quarter from payments that were designed to offset the pandemic’s impact on U.S. consumers. ... Read full article

The Pennsylvania company said the move is in response to margin pressure and customers' increased adoption of digital channels. ... Read full article

The slowdown in elective medical procedures caused by the coronavirus pandemic led to less spending from HSAs and a decline in interchange income for the Connecticut bank. ... Read full article

The Dallas company, which in May terminated a deal to merge with Independent Bank, set aside $100 million for worrisome loans and incurred severance costs after cutting an undisclosed number of positions. ... Read full article

Simmons First, which is based in Arkansas, plans to shutter 23 locations later this year, while Great Southern in Missouri has hired a firm to take a look at its network. ... Read full article

The Georgia company warned that outstanding loans could fall and deferrals will likely rise as its home state and Florida grapple with the pandemic. ... Read full article

The Pennsylvania bank incurred $2.3 million in expenses in second quarter after winding down unit BMT Investment Advisers. ... Read full article

Government stimulus efforts, including the Paycheck Protection Program, have fueled a deposit surge. The challenge for banks is figuring out how to put that new money to use. ... Read full article

The Minneapolis company said 75% transactions have been handled online since the pandemic hit. ... Read full article

Home purchases in markets outside of cities accounted for some of the San Francisco bank's loan growth. Executives believe this will be a long-term trend because a generous supply of inventory in less populated areas will appeal to buyers. ... Read full article

Several big bank mergers fell apart after the coronavirus hit. But Bryan Jordan, First Horizon's CEO, said the pandemic validated plans to cut costs an invest more in digital upgrades. ... Read full article

The company said its plan to shutter 12 locations reflects "increased client usage of online and mobile banking and a commitment to improve digital banking technology." ... Read full article

The Arkansas bank is selling its two branches in the state to Merchants & Marine Bancorp and FEB Bancshares. ... Read full article

CB Financial Services, Mercantile Bank and Nicolet Bankshares said they are looking to shutter a total of 12 locations in coming months. ... Read full article