Megabank Quarterly Results Show Signs of Consumers Spending Slowdown
JPMorgan Chase and Wells Fargo saw their adjusted profits fall, while Citigroup saw sluggish spending on its credit cards.
JPMorgan’s Dimon Says Stagflation Possible
JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation.
Jamie Dimon Warns of Potential Interest Rate Spike
With some investors and economists questioning whether the Federal Reserve can make good on interest rate cuts this year, the JPMorgan Chase CEO warned of the possibility of rates rising to 8 percent or higher.
Chase’s New England Head Leaves for Atlanta Post
Cooke led Chase through a huge expansion in its New England branch footprint as it sought to convert many credit card customers to deposit and loan clients.
Meet Connecticut’s Top Lenders
2023 was a tough year for many kinds of real estate lending last year, but banks, credit unions and mortgage companies active in Connecticut put in a strong showing, with some even managing to increase their loan totals year-over-year.
CT Bank Executives Gear Up for 2024
Deposits are stabilizing and interest rate cuts are in the offing. That could spell opportunity, local bankers say.
Megabank Profits Mostly Fall in Q4 Amid Upbeat CEO Messaging
Three of the nation’s biggest banks said Friday that their profits fell last quarter, as JPMorgan Chase, Bank of America and Citigroup deal with the lingering effects of higher interest rates and the industry costs of last year’s banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank.
All Bank Branches that Opened and Closed in Connecticut in 2023
Only one bank opened any new branches in the state this year, while several big brands moved to shutter physical locations.
Megabank CEOs Warn New Regulations Could Harm the Economy
The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated.
JPMorgan Chase to Consolidate Three Greenwich Branches
JPMorgan Chase is reorganizing its branch network in Greenwich, closing a total of three branches while opening three other branches.
Webster Bank a Winner from Spring Deposit Turmoil
Webster Bank was the only bank in the top 10 deposit-holders in Connecticut that registered an increase in deposits as bank customers scurried to spread their money around after the bank failures this spring, according to the latest FDIC deposit data.
Surveys Say Small Businesses Alert, Yet Optimistic on Growth
With the interest rate hikes expected to persist, U.S. small businesses are still optimistic while still being alert to the impacts that the current economic pressures, according to two bank surveys.
JPMorgan Chase Donates East Haven House to Disabled Ex-Soldier
A former American soldier who lost a leg to friendly fire in Afghanistan in 2009 got a new home last week thanks to JPMorgan Chase.
JPMorgan Q2 Profit Jumps with Boost from First Republic Takeover
In the deal, JPMorgan acquired 84 First Republic branches, bringing it $92 billion in deposits and $203 billion in loans and other securities.
The Banking Crisis Isn’t Over. But How Bad Will It Get?
Uncertainty continues to pummel the banking industry, despite assurances from financial regulators and bankers such as Jamie Dimon this week that the worst of the recent crisis is over and the health of the banking system remains strong.
Dimon: Bank Rules Should Change After Silicon Valley Bank Failure
JPMorgan CEO Jamie Dimon said the U.S. and the banking industry should amend regulations following the collapse of Silicon Valley Bank and Signature Bank last month, saying that the financial system needs to be adjusted so that one bank’s failure does not “cause undue panic and financial harm.”
Megabanks Warn of Slowing Economy
Several of America’s biggest banks say they’re setting aside hundreds of millions of dollars each to cover potential loan losses in the event of a recession this year.
Survey: Business Leaders Have Some Optimism for 2023
While almost two-thirds of U.S. small and midsize businesses expect a recession this year, business leaders have an optimistic outlook for their own company’s performance in 2023, according to a survey from JPMorgan Chase.
CBIA Elects JPMorgan Banker as Next Board Chair
Matt McSpedon, a commercial banking executive with JPMorgan Chase, was elected last week as the new board chair for the Connecticut Business & Industry Association, the state’s largest business organization.
Megabank CEOs Turning Pessimistic on Economy
The outlook for the U.S. economy from Wall Street’s biggest banks is getting gloomier, with many top executives saying they’re preparing for a potential downturn or a recession.
