Commercial banking

Bank OZK is the latest commercial real estate-heavy bank to announce plans to diversify its business. CEO George Gleason emphasized that he's confident in the bank's loan portfolio, but said he thinks misperceptions are dragging down the stock price.

The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.

The Charlotte, North Carolina-based bank saw profits and net interest income dip in the second quarter, but made up lost revenue through investment banking fees.

The Pittsburgh-based superregional bank reported a small quarter-over-quarter advance in net interest income, and it expects loan growth to pick up in the second half of the year. PNC, which announced job cuts last year, also said that it has identified an additional $25 million in cost savings.

Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.

First Foundation will use the large investment to shrink its multifamily loan portfolio, which has weighed down its earnings since interest rates began rising.

Some banks with large commercial real estate concentrations are seeing their stock values take a roller-coaster ride as investors discount their assurances about the wobbly asset class.

During New York Community Bancorp's annual shareholder meeting, executives reiterated their mission to restore value in the beleaguered Long Island-based company. Questions from shareholders suggested at least some discontent following a capital influx that significantly diluted their position in the company.

Sandro DiNello, who briefly led New York Community Bancorp amid turmoil earlier this year, is staying on the company's board. But Joseph Otting, the company's recently installed CEO, is taking on the executive chairman position.

Executives at the Toronto-based bank said last year that they planned to add 150 branches in the United States. But when pressed on Thursday, they could not say how much they'll scale back their ambitions due to investigations over TD's anti-money laundering practices.

Investors reacted negatively to New York Community Bancorp's divestiture of a $5 billion loan warehouse portfolio to JPMorgan Chase. The deal has triggered a debate about whether other banks might retreat from lending to nonbank home lenders.

After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

Citigroup's earnings topped analysts' estimates as corporations tapped markets for financing and consumers leaned on credit cards.

The company reported net interest income that slightly missed analyst estimates, a sign the benefit of higher interest rates may be waning amid pressure to pay out more to depositors. Costs rose on higher compensation and an FDIC assessment.

Lower commodity prices and decreases in government assistance are expected to push farm income lower this year and raise credit risk for banks.

It will take time for the banking industry to work through issues with CRE loans, Brian Moynihan says in discussing the aftermath of last year's banking crisis and New York Community Bancorp's recent warning about its exposure to troubled debt.

The troubled Long Island-based lender laid out steps that it's taking to improve its loan-review process. The remediation efforts follow a massive loan provision last quarter, which led to a management shake-up and a $1 billion rescue led by former Treasury Secretary Steven Mnuchin.

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.