Page 2 - Michael Santomassimo News Today

Unfortunately for US banks, their 2023 winning streak petered out in the fourth quarter, resulting in disappointing earnings overall to finish off the year, though some fared much better than others. Banking leaders are hopeful for a 2024 turnaround, but much will depend on central banks’ policy manoeuvrers and geopolitical developments.

Customers of biggest U.S. banks have steadily increased unpaid balances

Large US banks reported mixed results Friday, dented by exceptional costs connected to job cuts and to replenishing a federal fund tapped during last years crisis involving midsized lenders

Two bank branches will remain within Charlottesville city limits after Nov. 1.

The two megabanks continue to shrink their branch networks, with BofA planning to close 20 locations and Wells recently shuttering 15. Both banks are also opening new branches in certain markets.

Wells Fargo & Company (NYSE:WFC) Q3 2023 Earnings Call Transcript October 13, 2023 Wells Fargo & Company beats earnings expectations. Reported EPS is $1.39, expectations were $1.25. Operator: Welcome and thank you for joining the Wells Fargo Third Quarter 2023 Earnings Conference Call. [Operator Instructions]. I would now like to turn the call over to […]

Big bank executives warned a number of products and services could become uneconomical if new proposed bank capital hikes are adopted as written, but said they were hopeful they could win some...

By Pete Schroeder and Michelle Price WASHINGTON (Reuters) - Big bank executives warned a number of products and services could become uneconomical if ...

US banks aren’t taking any chances, increasing their provisions for loan losses as the Fed’s monetary tightening lingers and the likelihood of recession looms. A few sectors of the US economy, especially commercial real estate and some corporate entities, seem stressed, but banks continue to enjoy healthy profits from high interest rates.

The banking giant has cut some 40,000 jobs in recent years. Now, a major job cut is coming to the Midlands.