$VLY (Valley National Bancorp)

$VLY {{ '2017-01-09T13:01:22+0000' | timeago}} • Announcement

Valley National Bank, the wholly-owned subsidiary of $VLY, announced the promotion of Thomas Iadanza to Sr. EVP and Chief Lending Officer. Iadanza joined Valley National Bank in 2012 through the acquisition of State Bank of Long Island. Iadanza had served as EVP and Chief Lending Officer of Valley's Commercial and Consumer Lending Divisions.

$USB {{ '2017-10-19T09:18:15+0000' | timeago}} • Webcast

For 4Q17 and FY18, $USB expects to deliver positive operating leverage on a year-over-year basis, supported by expense growth in the 3-5% range. However, credit quality is expected to remain stable.

$USB {{ '2017-10-19T09:15:16+0000' | timeago}} • Webcast

$USB's credit and debit card revenue during 3Q17 increased 3% on year-over-year basis, helped by higher sales volumes. The company's Trust and asset management revenue grew 5%, reflecting business growth and favorable market conditions. Merchant processing revenue was down 1.7%.

$USB {{ '2017-10-18T14:07:01+0000' | timeago}} • Infographic

$USB U.S. Bancorp Earnings AlphaGraphics: Q3 2017 highlights

$USB {{ '2017-10-18T13:50:43+0000' | timeago}} • Announcement

$USB's net interest margin during 3Q17 was 12 basis points higher than 3Q16 and 6 basis points higher than 2Q17. This increase in the net margin was due to higher interest rates and loan portfolio mix. Average loans grew 3% during the quarter.

$USB {{ '2017-10-18T13:41:06+0000' | timeago}} • Announcement

Minneapolis-based regional bank $USB reported 4% growth in its 3Q17 profit, helped by higher interest rates. Net income rose to $1.56Bil, or $0.88 per share, compared with $1.50Bil, or $0.84 per share during 3Q16. Revenue rose 4% YoY to $5.61Bil. Net interest income rose 8% from the prior year period.

$USB {{ '2017-10-18T13:27:05+0000' | timeago}} • Announcement

$USB's BoD elected Richard McKenney as a director of the company, effective immediately. McKenney is the president and CEO of Chattanooga, Tenn., based $UNM.

$WFC {{ '2017-10-17T20:39:48+0000' | timeago}} • Webcast

Despite the impact of $1Bil discrete litigation accrual for mortgage-related regulatory investigations in 3Q17, $WFC's average deposits grew 4% YoY, client assets reached record levels in wealth and investment management, debit card purchase volume grew 5%, balances in consumer and general purpose credit card portfolio grew 5%.

$BAC {{ '2017-10-13T19:10:55+0000' | timeago}} • Webcast

$BAC said it did not see a spike in loan defaults in 3Q17, unlike rivals such as $JPM and $C. However, the Charlotte, North Carolina- based company said it increased its provision for loan losses in the consumer banking segment by $269MM, keeping in mind the impact of hurricanes during the quarter.

$BAC {{ '2017-10-13T18:32:39+0000' | timeago}} • Webcast

Responding to a question whether $BAC would be able to hold the reins on costs in its Global Wealth and Investment Management business, the company said higher expenses are always attached to wealth management fee generation. In 3Q17, efficiency ratio for Wealth Management unit stood at 73%, much higher than Commercial Banking and Consumer units.

$WFC {{ '2017-10-13T18:27:56+0000' | timeago}} • Announcement

For 3Q17, $WFC's revenue came under pressure, declining 2% YoY to $21.9Bil. Operating expenses rose 8%, mainly due to the legal costs the bank is facing to resolve its fake accounts fall-out. Notably, to fight rising legal costs, the bank has planned to slash its expenses by $4Bil by the end of 2019 by shutting down more than 400 branches.

$WFC {{ '2017-10-13T18:16:09+0000' | timeago}} • Announcement

Amidst the struggle to recover from its fake accounts scandal that resulted in millions in penalties and resignation of then-CEO John Stumpf, $WFC posted lowest quarter earnings in seven years. The bank's profit for 3Q17 fell 19% YoY as it set aside $1Bil to cover regulatory investigations into lending practices prior to the 2008 financial crisis.

$BAC {{ '2017-10-13T18:07:59+0000' | timeago}} • Webcast

As part of its cost-cutting initiative, $BAC said it reduced workforce by 0.5% or 1,065 workers in 3Q17. The banking behemoth has cut over 80,000 jobs since CEO Brian Moynihan announced the initiative in 2011. Bank of America said it doesn't expect to see any more huge job cuts in the near future.

$WFC {{ '2017-10-13T15:36:51+0000' | timeago}} • Infographic

$WFC Wells Fargo & Company Earnings AlphaGraphic: Q3 2017 Highlights

$BAC {{ '2017-10-13T13:15:17+0000' | timeago}} • Infographic

$BAC Bank of America Earnings AlphaGraphic: Q3 2017 Highlights

$BAC {{ '2017-10-13T12:14:49+0000' | timeago}} • Announcement

In 3Q17, $BAC witnessed revenue growth in three of its four segments. Revenue from its largest segment, Consumer Banking, increased 10%, while that from Global Wealth and Investment Management rose 6%. Global Banking segment revenue rose 5%, but revenue from Global Markets fell 11% during the quarter.

$BAC {{ '2017-10-13T12:07:34+0000' | timeago}} • Announcement

$BAC said its loans in 3Q17 totaled $927.1MM, while deposits came in at $1.284 trillion. Meanwhile, driven by higher commercial losses, $BAC's net charge-offs rose by $12Bil YoY to $900MM.

$BAC {{ '2017-10-13T12:02:32+0000' | timeago}} • Announcement

$BAC, the second largest US bank by assets, said sales and trading revenue fell 13% to $3.1Bil in 3Q17 due to unfavorable market conditions and lower volatility in rates products. Fixed-income trading revenue fell 22% to $2.15Bil. Earlier, rivals $C and $JPM had also reported 16% and 27% declines respectively in their fixed-income trading revenues.

$BAC {{ '2017-10-13T11:53:40+0000' | timeago}} • Announcement

In spite of weak bond trading business, $BAC reported 13% jump in net income in 3Q17 to $5.6Bil, or $0.48 per share. Meanwhile, riding on a 9% climb in Net Interest Income during the quarter, the banking giant managed to modestly lift its revenue up 1% to $22.08Bil.

$WFC {{ '2017-10-12T15:33:50+0000' | timeago}} • Announcement

$WFC named Mike Roemer as Chief Compliance Officer, who will join the bank in January 2018. Roemer recently served as Group Head of Compliance for UK lender Barclays. Notably, Barclays' CEO Jes Staley is under a regulatory investigation over a whistleblowing scandal, while Wells Fargo is trying to get out of its fake account scandal.

$XL {{ '2017-10-11T20:46:20+0000' | timeago}} • Announcement

$XL announced its preliminary estimate of net losses of approx. $1.33Bil relating to Hurricanes Harvey, Irma and Maria. For 3Q17, total catastrophe losses including smaller loss events are preliminarily estimated at approx. $1.48Bil. On an after-tax basis, the preliminary estimate of total catastrophe net losses for 3Q17 is approx. $1.35Bil.

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