Even as units of a larger holding company, local banks fight the perception that they can’t provide sophisticated services like corporate or private banking. Executives say that unifying the brand will help Synovus better compete against larger players.
The hand-wringing over business lending has overshadowed the fact that consumer lending — particularly for regional banks — has become a strong and steady engine of growth.
The Columbus, Ga,, company also announced late Monday that it is buying the credit card assets and brokered deposits of the retailer Cabela's and will then sell the card portfolio to Capital One.
Bank earnings could be hurt this year as big retailers close stores and file for bankruptcy. The situation has sparked a debate about how much CRE and C&I books will suffer just as lenders were putting other commercial woes behind them.
Three midsize banks projected increases in loans this year in the latest round of earnings discussions, but their levels of optimism varied, and their commercial lending strategies in some cases conflicted.
