Corporate governance

Houston’s hotel market, already the worst-performing in the U.S., is poised to take a further beating from Hurricane Harvey as the natural disaster creates chaos in a city that’s been reeling from low oil prices for the past three years.

Their immediate effort is to ensure colleagues and clients are safe and that banking services are available to hurricane victims. The next big issue is preparing for the financial hit banks and customers will take from wind and water damage.

Hurricane Harvey’s second act across southern Texas is turning into an economic catastrophe — with damages likely to stretch into tens of billions of dollars and an unusually large share of victims lacking adequate insurance.

With Hurricane Harvey rapidly making its way toward the Texas coast, lenders and servicers have activated business continuity plans to accommodate pending transactions and provide options and support to existing borrowers affected by the storm.

Duke, currently vice chairman, was rumored to be a likely contender for the chairman spot last week.

Chairman Stephen Sanger could step down ahead of the embattled bank's next annual meeting, according to a news report, clearing the way for the elevation of Duke, the current vice chairman and a former Fed governor and banking executive.

Banks pay their loan officers less than independent mortgage bankers do, but the level of sales support provided negates the difference, a study from Stratmor Group said.

The regional bank reported an 8% gain in fee income and trimmed costs amid 1% loan growth.

Colony American Finance has been rebranded as Corvest American Lender in the wake of equity and asset acquisitions by funds affiliated with Fortress Investment Group.

New and used auto lending broke records, while HELOCs and second mortgages reached levels not seen since 2012.