Consumers’ desire to shop online is creating huge demand for distribution centers and forcing property owners to think creatively about redeveloping vacant retail space. Meanwhile, hundreds of billions of dollars will be spent rebuilding areas hard hit by hurricanes and wildfires.
Top banking executives called the Republican tax plan an important first step toward tax reform and economic stimulus, but questions immediately arose about whether trade-offs and complexities in the bill would undercut it.
Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small.
A slight decline in core deposits in the second quarter stoked worries that tighter liquidity is around the corner. Bankers are exploring responses beyond the typical CD rate special if third-quarter results show the trend is continuing.