M&T Bank, Zions and Comerica are among the regional banks facing the most pressure on net interest margins, Wells Fargo analysts said in a research note to investors.
The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.
The regional bank has begun closing branches in Chicagoland as part of a plan to reduce its net number of brick-and-mortar offices by up to 15% even as it looks to expand in the Southeast.
A former call center worker says he lost his job last year after reporting that employees were given incentives to market credit cards to ineligible borrowers.
Even as consumer and CRE lending slowed in the first quarter, business lending — particularly to middle-market companies — surged. But some banks are already warning that the growth could taper off as competition from nonbanks heats up.
Investors seem to be betting that a long-rumored sale of the Dallas company is on hold now that it has named a new CEO, but analysts say it remains an attractive takeover target for a larger regional bank.
The Minneapolis bank will open about 10 branches in North Carolina's largest city by the end of next year, adding to already intensifying competition among big banks.
