$FCF (First Commonwealth Financial Corp.)

$FCF {{ '2016-10-03T14:47:20+0000' | timeago}} • Announcement

$FCF said DCB Financial Corp. will merge with and into $FCF in a stock and cash transaction valued at about $14.50 per share, or approx. $106MM in total. Following the merger of the parent holding companies, DCB Financial's unit, The Delaware County Bank & Trust Company, will merge with and into the company's subsidiary, First Commonwealth Bank.

$STI {{ '2018-01-19T16:44:28+0000' | timeago}} • Announcement

$STI said Anil Cheriyan will retire as chief information officer effective March 31, 2018, following a 36-year career in management consulting and information technology. Scott Case will succeed Cheriyan as CIO, effective Feb. 5, 2018, reporting to SunTrust Chairman and CEO Bill Rogers.

$FNB {{ '2018-01-19T15:38:45+0000' | timeago}} • Announcement

$FNB announced a significant financial commitment to both its employees and the communities it serves relating to the signing of the Tax Cuts and Jobs Act of 2017. As an investment in its workforce, $FNB plans to raise the minimum hourly wage for its employees to $15 by the end of 2019, accelerating an ongoing initiative to elevate hourly wages.

$STI {{ '2018-01-19T12:30:16+0000' | timeago}} • Announcement

$STI's net interest margin during 4Q17 was 3.17%, up 17Bps from the prior year period. This increase was driven by higher earning asset yields arising from higher benchmark interest rates, continued positive mix shift in the loans held for investment (LHFI) portfolio, and higher securities AFS yields given lower premium amortization expense.

$STI {{ '2018-01-19T12:27:00+0000' | timeago}} • Announcement

Banker $STI posted 4Q17 net income available to common shareholders of $710MM, or $1.48 per share, up from $448MM, or $0.90 per share in 4Q16. This gain was on the sale of Premium Assignment Corporation ("PAC") subsidiary and tax reform-related items. Total revenue rose 2.4% YoY to $2.26Bil, helped by higher net interest income.

$USB {{ '2018-01-18T20:36:26+0000' | timeago}} • Webcast

$USB reported 5.4% growth in its credit and debit card revenue. This growth was driven by higher sales volumes. Trust and investment management fees increased 7.1% mainly due to favorable market conditions and net asset and account growth. Merchant processing revenue fell 1% YoY due to exit of certain joint ventures in 2Q17.

$USB {{ '2018-01-18T20:30:14+0000' | timeago}} • Webcast

During 4Q17, $USB's net interest margin decreased 2Bps to 3.08%. Non-interest expense increased 3.6% YoY, reflecting higher compensation and employee benefits expense mainly related to hiring to support business growth and compliance programs.

$BAC {{ '2018-01-18T18:12:16+0000' | timeago}} • Webcast

$BAC said it expects solid NII growth in 2018 from loan and deposit growth. "The increase is going to depend upon the amount of loan growth, the utilization of rates increasing along the forward curve and obviously our ability to manage the deposit rate pay," CFO Paul Donofrio said.

$MS {{ '2018-01-18T17:34:17+0000' | timeago}} • Announcement

Sales and trading net revenue of $MS fell 16% to $2.7Bil in 4Q17, as fixed-income sales and trading revenue slipped 45%. The decrease was primarily driven by lower results in rates and foreign exchange. $MS's decline is on par with $GS that reported a 50% drop in bond trading during 4Q17.

$BAC {{ '2018-01-18T17:13:36+0000' | timeago}} • Webcast

During the earnings conference call, $BAC CEO Brian Moynihan said a lion's share of the saving driven by the tax overhaul will be distributed to shareholders as dividends and share buybacks.

$GS {{ '2018-01-17T21:27:47+0000' | timeago}} • Webcast

$GS expects medium-term share buybacks of $5-6Bil annually. The company said there are many factors that drive the buyback. Those factors include earnings profile, next CCAR cycle and the evolution of the test. The test especially depends on severity of the macro shock.

$GS {{ '2018-01-17T21:20:24+0000' | timeago}} • Webcast

For 1Q18, assuming current stock price levels, $GS estimates the equity compensation related accounting benefit to be about $175MM. Given the positive backdrop for investing further in franchise and the impact of tax legislation on capital ratios, $GS does not expect to use all of its 2017 CCAR cycle authorization in 2018.

$GS {{ '2018-01-17T21:17:56+0000' | timeago}} • Webcast

In 4Q17, $GS consolidated its online lending and deposit platforms under the Marcus brand. Feedback on lending and deposit products has been positive. The company plans to build on this momentum in 2018, while remaining disciplined in its underwriting standard, focused on lending to creditworthy customers.

$GS {{ '2018-01-17T21:06:15+0000' | timeago}} • Webcast

$GS said it took a one-time charge of $4.4Bil in 4Q17 with regard to the effect of U.S. tax reform. The charge includes about $3.3Bil associated with the one-time deemed repatriation tax on foreign earnings and about $1.1Bil related to the remeasurement of deferred tax assets. $GS said there is clearly potential for increased business activity.

$WFC {{ '2018-01-17T19:29:42+0000' | timeago}} • Announcement

$WFC announced that Senior Executive Vice President Mike Loughlin will retire as the company's Chief Risk Officer. The company expects to name a successor in the next few months and Loughlin will remain in his current role through the transition.

$USB {{ '2018-01-17T18:01:04+0000' | timeago}} • Announcement

$USB named Andy Cecere, President and Chief Executive Officer, as Chairman of the BoD, effective April 2018. Cecere succeeds  Richard Davis, Executive Chairman, who will retire after the board transition in April.

$USB {{ '2018-01-17T17:44:08+0000' | timeago}} • Announcement

Minneapolis-based bank $USB saw a benefit of $910MM in 4Q17 from the new federal tax law, helping the bank earn $1.68Bil, or $0.97 per share, up 13.8% from a year ago. This increase was also driven by rising interest rates and loan growth. Non-GAAP EPS was $0.88. Total revenue during the quarter was $5.63Bil, up 3.7% YoY.

$GS {{ '2018-01-17T15:49:01+0000' | timeago}} • Announcement

$GS' BoD declared on Jan. 16 a dividend of $0.75 per common share, payable on March 29, 2018 to shareholders of record on March 1, 2018. During 4Q17, the company repurchased 6.6MM shares at an average cost per share of $241.13, for a total cost of $1.59Bil.

$GS {{ '2018-01-17T15:44:30+0000' | timeago}} • Announcement

$GS' revenue in Investment Management for 4Q17 rose 4% year-over-year to $1.66Bil. This was primarily due to higher management and other fees, reflecting higher average assets under supervision, partially offset by lower incentive fees. During 4Q17, total assets under supervision increased $38Bil to $1.49 trillion.

$GS {{ '2018-01-17T15:41:05+0000' | timeago}} • Announcement

$GS' equity securities revenue for 4Q17 grew 18% year-over-year to $1.21Bil, reflecting a significant increase in net gains from private equities. Revenue in debt securities and loans declined 2% to $449MM, due to higher provisions for loan losses, primarily from impairment of a secured loan.

$GS {{ '2018-01-17T15:39:00+0000' | timeago}} • Announcement

$GS' trading revenue for 4Q17 plunged 50% year-over-year to $1Bil. This was due to significant lower revenues in currencies, credit products, interest rate products and commodities. Fixed Income, Currency and Commodities Client Execution continued to operate in a challenging environment due to low levels of volatility and low client activity.

Recent Transcripts

STI (SunTrust Banks, Inc.)
Friday, January 19 2018 - 1:00pm
GS (The Goldman Sachs Group, Inc.)
Wednesday, January 17 2018 - 2:30pm
USB (U.S. Bancorp)
Wednesday, January 17 2018 - 2:00pm
BAC (Bank of America Corporation)
Wednesday, January 17 2018 - 1:30pm
WFC (Wells Fargo & Company)
Friday, January 12 2018 - 3:00pm
BMO (Bank of Montreal)
Tuesday, December 5 2017 - 7:00pm
TD (The Toronto-Dominion Bank)
Thursday, November 30 2017 - 6:30pm
GROW (U.S. Global Investors, Inc.)
Friday, November 10 2017 - 1:30pm
ARCC (Ares Capital Corporation)
Thursday, November 2 2017 - 4:00pm
RE (Everest Re Group Ltd.)
Tuesday, October 31 2017 - 2:30pm
EVBN (Evans Bancorp Inc.)
Monday, October 30 2017 - 8:45pm
HTH (Hilltop Holdings Inc.)
Friday, October 27 2017 - 1:00pm
BBVA (Banco Bilbao Vizcaya Argentaria, S.A.)
Friday, October 27 2017 - 7:30am
UBS (UBS Group AG)
Friday, October 27 2017 - 7:00am
SIVB (SVB Financial Group)
Thursday, October 26 2017 - 10:00pm
BGCP (BGC Partners, Inc.)
Thursday, October 26 2017 - 2:00pm
FCF (First Commonwealth Financial Corp.)
Wednesday, October 25 2017 - 6:00pm
VLY (Valley National Bancorp)
Wednesday, October 25 2017 - 3:00pm
XL (XL Group plc)
Tuesday, October 24 2017 - 10:00pm
WAL (Western Alliance Bancorporation)
Friday, October 20 2017 - 4:00pm

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