Mass. Bank Regulator: Credit-Loss Provisions Up 39 Percent
The Massachusetts Commissioner of Banks Mary Gallagher’s annual report noted that banks and credit unions could face some challenges in 2025.
M&T Ups Ratio of Money Set Aside for Troubled Loans
The bank still reduced the amount of money it’s set aside for loans going bad last quarter while also seeing both loans and deposits take a dip.
JPMorgan Nearly Doubles Provision for Loan Losses
JPMorgan’s net income rose 9 percent in the first quarter and the New York bank beat Wall Street’s profit and revenue targets, but its chief executive warned of global economic uncertainties ahead due to tariff chaos.
BofA Profits Fall as Bank Sets Aside Money for Downturn
Bank of America’s profits fell by 8 percent in the third quarter as the bank set aside cash to cover potential loan losses.
Mass. Bank Incomes Still Under Pressure from Interest Rates
While decreases in loan loss provisions helped Massachusetts banks bring in more net income in the first quarter, the net interest margin at these institutions continued to decline.
Webster Bank Sees Q1 Earnings Increase
Webster Bank saw first quarter earnings increase almost 200 percent compared to the same quarter last year, when banks were responding to the start of the pandemic.
Optimistic Megabanks Start Moving ‘Bad’ Loans Back to ‘Good’
The pandemic and recession aren’t over by a long shot, but megabanks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile.
