Despite concerns about the fiscal cliff, it should be encouraging to investors that bank stocks have held up quite well over the last couple of months. It seems that sentiment may have finally turned for the group, especially for Bank … Continued
Vikram Pandit unexpectedly stepped down from the head of Citibank today, which caps off a troubled run. Pandit was thrown into an impossibly difficult situation on December 11, 2007, but it’s tough to say that his time as CEO was … Continued
The New York Fed is putting together a new banking industry report which can be found here. It’s not as comprehensive as the one that the FDIC puts together on a quarterly basis, but it is valuable in that it … Continued
More from the Barclays Financial Services conference…a slide from Regions Financial, a southern regional bank with +$100B in assets which had a lot of trouble with credit quality during the crisis. The slide below shows loan line utilization improving. It’s … Continued
In the Federal Reserve Senior Loan Officer Survey released yesterday, there was a good sign for the housing market in that more banks are reporting increasing demand for mortgage loans. The bad news is that while the demand is picking … Continued
Sandy Weill, former CEO of Citigroup caused a stir today by commenting that Glass Steagall should be reinstated. Since he is the person who pioneered the integrated banking model, the comments are shocking. The comments are puzzling too because even … Continued
Quotes from 2Q12 WFC Earnings Call organic growth in both commercial and consumer portfolios. average core deposits up $10.1 billion from the first quarter, up $73.2 billion or 9% from a year ago. net interest margin was unchanged at 3.91% … Continued
Citigroup reported strong earnings this morning as did JP Morgan and Wells Fargo last week. All three banks also reported strong deposit growth as well. Systemically, despite low interest rates, US banks have been growing deposits at an above average … Continued