FDIC-Insured Banks Saw Decline in Combined Net Income in Q3
The nation’s FDIC-insured banks saw a decline in their aggregate net income in the third quarter versus the prior quarter due to lower non-interest income and higher losses on securities.
Credit-Loss Provisions Hurt Mass. Banks’ Profitability
Provisions for credit losses more than doubled and net charge-offs – bad debt that will never be recovered – jumped to $67 million from $19 million.
Massachusetts Banks Saw Near-Record Earnings Last Year
Higher net interest income helped drive near-record earnings at Massachusetts banks last year, according to FDIC data.
Bank Deposit Surge Has Slowed. Here’s How Mass. Banks Stack Up
While total deposits at Massachusetts banks continued to increase, FDIC data shows the surge that marked the first two years of the pandemic has slowed down.
Earnings Remain Down At Mass. Banks
Massachusetts-based banks saw lower net income in the first half of the year compared to 2021, in part because of higher compensation for employees, according to FDIC data.
FDIC to Increase Scrutiny of Banks’ CRE Lending
With banks holding record volumes of commercial real estate loans, the FDIC plans to increase its focus on CRE transaction testing during its next cycle of bank examinations.
Massachusetts Banks Saw Earnings Decline in First Quarter
About one-third of Massachusetts-based banks reported earnings gains in the first quarter after last year saw bank earnings reach record levels, according to FDIC data.
All Three Bank Regulators Pledge to Update CRA for a New Era
The three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poor and racial minorities in the areas where banks have branches.
Mergers Seen as Strengthening Smaller Mass. Banks
Critics of bank consolidation often say mergers harm consumers by limiting competition and reducing local lending. But smaller local banks involved in two recent deals say the moves are necessary for them and their customers to thrive.
FDIC Seeks Comments on Bank Mergers
The Federal Deposit Insurance Corp. has moved forward with plans to review bank merger policies, the next step in a move that led to controversy for the FDIC board late last year.
Regulators Heighten Focus on Climate Change’s Financial Risks
The primary objective of financial regulatory authorities generally is to maintain the safety and soundness of banks and the financial system. How, then, do regulators incorporate climate change risks into their work?
Bank Merger Guidelines Are Being Actively Reviewed
Momentum is building at the federal level to reevaluate and modernize how bank mergers are evaluated by federal banking regulators. Competition and market power have emerged as key concerns.
This Month in History: Failure of the Bank of New England
Less than a week after the start of a credit union crisis in Rhode Island, Bank of New England, Connecticut Bank and Trust, and Maine National Bank – were seized by the FDIC in what was then the third-larges bank failure in U.S. history.
McWilliams Resigns as FDIC Chairman in Surprise Move
Weeks after a conflict arose between the FDIC chairman and board members, FDIC Chairman Jelena McWilliams has announced her resignation.
Federal Regulators Adopt Proactive Stance Towards Stablecoins
Recent actions by the U.S. federal bank regulatory agencies create a decidedly proactive, risk-based approach with respect to the growth of cryptocurrency and other digital assets in the U.S. economy.
McWilliams Calls FDIC Board Members’ Move a ‘Hostile Takeover’
The controversy over proposals to review bank merger regulations continues to play out publicly, with the FDIC’s Trump-apointed chair at odds with a group of board members aligned with the Biden administration.
Regulators Aren’t on Same Page with Bank Merger Review
A request seeking public comments about bank mergers that one government agency said had been approved by the Federal Deposit Insurance Corp. has come under dispute after the FDIC said the request had not been approved.
New FDIC Investment Vehicle Will Support MDIs, CDFIs
A new investment vehicle designed by the Federal Deposit Insurance Corp. will let financial institutions and other organizations provide capital to insured Minority Depository Institutions and Community Development Financial Institutions that will then request funding through a “pitch process.”
Banking Regulators Propose Unified Approach to Use of Third-Party Vendors
The Fed the FDIC and the OCC recently released proposed guidance to help banking organizations manage risks associated with third-party relationships, including relationships with fintechs.
OCC Drops Trump-Era CRA Reform
The yearslong effort to update the Community Reinvestment Act will continue, this time with the three federal banking regulators working together, a move supported by both banks and community organizations.
