NBT Bank Sees Income and Deposit Growth in Third Quarter
NBT Bank made both deposit and income gains in the third quarter of 2024, partially a result of the acquisition of Western Massachusetts’ Salisbury Bank.
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.
M&T Keeps Cutting Exposure to CRE Lending
In its first earnings call after a major credit ratings agency downgraded its out look for the lender, M&T Bank announced progress in reducing its book of commercial real estate loans.
Berkshire Bank Falls to Net Loss Over Securities Sale
Berkshire Bank suffered a net loss on a securities sale during the fourth quarter of 2023, the bank reported, dragging it down to a net loss of $1.4 million compared to last quarter’s net profit of $19.5 million.
High Funds Costs Drag NBT’s Gains from Latest Merger
NBT Bank saw its quarterly profits dragged down by higher funding costs as customers continue to seek higher-yield deposits, despite the bank’s gains in loans and deposits from its August acquisition of Salisbury Bank.
Webster Bank Q4 Profit Down on One-Time Charges
Stamford-based Webster Bank’s fourth-quarter net income declined due to the one-time charges from the FDIC special assessment restocking the nation’s deposit insurance fund, expenses on the merger with Sterling National Bank and securities repositioning.
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.
Bankwell Bank Posts Higher Third Quarter Net Income
New Canaan-based Bankwell Bank said its third-quarter net income improved from the same quarter a year ago mainly on the reduction of its provision of credit losses, freeing up money to contribute to profitability.
Webster Bank Q3 Profits Hit by Merger-Related Charges
Webster Bank’s net income declined in the third quarter as it incurred merger-related charges from its consolidation a New York bank last year.
M&T Bank Net Income Declines in Face of High Rates
M&T Bank continued to see high interest rates weigh down its financials in the third quarter thanks to its higher cost of deposits borrowers made cautious by high lending rates.
Webster Bank Posts 30 Percent Jump in Q2 Net Income
Connecticut-based Webster Bank recorded a notable year-over-year jump in net income in its second-quarter earnings call Thursday morning.
Margin Compression Drags Down Berkshire’s Q2 Results
Boston-based Berkshire Bank saw its second quarter net income come in 14 percent lower than its first-quarter results, the bank said in its quarterly earnings call Thursday.
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.
BofA Profits Grow 15 Percent, Avoids Industry Crisis
Bank of America said its profits grew 15 percent last quarter, the latest of the big banks to do exceptionally well this earnings season as investors and consumers flock to Wall Street for safety after the failure of Silicon Valley Bank and Signature Bank.
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.
Berkshire Bank LO Hiring Spree Pays Off
Berkshire Bank executives reported a growing loan portfolio in this morning’s third-quarter earnings call, driven by residential mortgages at a time when the housing sector was hitting turbulent waters.
Prepaid Debit Card Program Helps Drive Patriot Bank’s Earnings
A prepaid debit card program that Patriot Bank acquired last year has helped drive the Stamford-based bank’s performance in 2021.
Bankwell Saw Record Third Quarter Earnings
New Canaan-based Bankwell had record earnings for the second straight quarter as the bank saw net loan growth of $92 million during the quarter.
People’s United Banks Sees Decrease in Earnings
In what could be its final full quarter before the merger with M&T Bank, Bridgeport-based People’s United Bank saw third quarter earnings decline slightly compared to the same quarter last year.
Webster Sees Earnings Grow 39 Percent
Ahead of its upcoming merger with Sterling National Bank, Waterbury-based Webster Bank saw third quarter earnings increase 39 percent over the same quarter last year.
