FDIC Board of Directors Meeting
BOARD MEETING | OCTOBER 17, 2024 FDIC BOARD OF DIRECTORS MEETING Today the Federal Deposit Insurance Corporation’s Board of Directors met. Materials and information relative to the Board actions are available here: A recording of the full webcast of the open meeting is available here. Read more The FDIC does not send unsolicited e-mail. If […]
At banks, generative AI helps novices, not skilled workers
Pilots of the technology show it can produce double-digit productivity improvements. But among experienced staff, it can have a negative impact.
‘It’s a frenzy’: JPMorgan Chase, Capital One dominate AI arms race
The banks top a list of the largest banks in terms of AI talent, innovation and leadership.
FDIC to meet minimum deposit insurance fund ratio sooner than expected
The Federal Deposit Insurance Corp. projected its Deposit Insurance Fund reserve ratio is expected to reach the statutory minimum of 1.35% by 2026 thanks to slower-than-expected insured deposit growth and a $7.5 billion increase in the DIF balance.
Huntington profit slips but rebound expected in 2025
The Columbus, Ohio-based regional bank reported solid growth in loans, deposits and fee income and is projecting record levels of spread income next year.
Banks’ CRE concentrations aren’t necessarily a sign of excessive risk
There is a tendency to assume that banks carrying a large commercial real estate loan portfolio need to diversify. But that ignores the fact that many of those institutions have much deeper knowledge of the market than their critics.
Texas Capital takes third-quarter loss as expected, sticks to 2025 targets
Aside from one-time charges due to a balance sheet restructuring and layoffs, the bank’s third-quarter operations beat expectations from a fee revenue bright spot.
M&T’s bid for lending diversity bolsters earnings
The Buffalo, New York-based bank said its commercial real estate portfolio continued to shrink, but this was more than offset by business and consumer lending.
KeyCorp swings to loss on $737 million bond-sale charge
The Cleveland lender sold some $7 billion in bonds at a loss, leading to the fall in the bottom line. Excluding that hit, KeyCorp’s profits rose 9%.
Truist gets boost from investment banking
The North Carolina-based company reported a surge in third-quarter investment banking and trading income, which rose nearly 80% from the year-ago quarter.