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$STI's net charge-offs were $83MM in 4Q15, an increase of $12MM compared to 3Q15. The ratio of annualized net charge-offs to total average loans was 0.24%, compared to 0.28% last year. Provision for credit losses was $51MM in 4Q15, down $23MM from 4Q14, driven by the overall improvement in asset quality, in addition to lower net charge-offs.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.