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The Connecticut bank said a spike in business lending and residential mortgages gave its fourth-quarter earnings a boost.
Commercial real estate loan growth and the Hudson City acquisition fueled fourth-quarter profit growth at M&T Bank in Buffalo, N.Y.
Three midsize banks projected increases in loans this year in the latest round of earnings discussions, but their levels of optimism varied, and their commercial lending strategies in some cases conflicted.
The Columbus, Ga., bank reported higher fourth-quarter profit on growth in business loans and mortgage banking.
PNC's fourth-quarter profit improved on higher lending to corporate customers for real estate and other loans.
Weakness in the energy sector and a surge in new construction are pushing up vacancy rates at offices and hotels, leading to a spike in delinquencies on loans tied to them. The safer bet, bankers say, is lending on industrial properties.
The commercial-and-industrial loan space is overheated and higher rates could stifle mortgage refinancings. Bankers could be fighting these fires and more in the new year.
Ally Financial is now making home loans.
And that was only the beginning. Bank CEOs speaking in New York provided a long list of financial reforms that they would like to see under the incoming Trump administration.
Some banks are set to get a fourth-quarter earnings boost from their MSR portfolios, thanks to a sudden spike in yields on Treasury bonds. Add to that the prospect of further rate hikes and the potential dismantling of Basel III, and more banks could be encouraged to re-enter the servicing business.
Ally Financial has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime mortgage-backed securities in 2006 and 2007.
Banks already have a difficult time collecting data on mortgage lending to minorities. New data requirements scheduled to take effect in early 2018 could lead to even more mistakes and financial penalties not to mention higher compliance costs and longer delays in closing loans.
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