
Kristin Broughton
Kristin Broughton is a reporter for American Banker, where she writes about the business of national and regional banking.
Kristin Broughton is a reporter for American Banker, where she writes about the business of national and regional banking.
The Providence, R.I., company reported a 27% gain in profits thanks partly to a boost in fee income from its purchase of Franklin American Mortgage in August.
The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.
With values on multifamily properties soaring, some building owners are using aggressive tactics to push out existing tenants to make room for higher-earning ones. That’s raising questions about whether their lenders are abetting this behavior.
The Boston bank said Monday it received a "satisfactory" Community Reinvestment Act rating after being downgraded on its last exam.
The Cincinnati bank reported strong profits, but its efforts to lower credit risk curbed lending as expenses rose in the first quarter.
The Providence, R.I., company reported a double-digit increase in quarterly profits despite a year-over-year decline in fee-based revenue.
It’s still not business as usual, but the decision to unify its two brands — Popular Community Bank on the U.S. mainland, Banco Popular in the U.S. territories — under a single, simpler name is a welcome sign that Puerto Rico’s largest bank is moving forward after the devastation of Hurricane Maria.
The bank will spend an additional $1.4 billion on technology in 2018 to gain share and boost efficiency, executives said Tuesday. But they were peppered with questions about whether the big investment will yield a big financial return down the road.
Shares of the Providence, R.I., company plunged Monday after a news report that it faces possible legal risks from the latest charges filed against Paul Manafort, the former campaign manager for President Trump.
The Chicago bank is denying a report that its CEO, Steve Calk, made $16 million in mortgage loans to former Trump campaign chairman Paul Manafort in exchange for a job in the White House.