At $42.2 billion, loan loss provisions for the first half of 2023 were nearly 160% higher than the first half of last year. As an industry, banks are well-provisioned to handle any upcoming downturn. However, not all individual banks can…
Irrational Exuberance Comes in Many Forms
Bank payrolls reported unprecedented increases beginning in the fourth quarter of 2021. Today, we take a look at the forces behind the shedding of many of those newfound banking jobs. The 53 banks listed on page 5 of this week’s…
Another Impact of the Maui Fires
It is a little-known fact that Hawaii Electric is the Holding Company for 4-Star American Savings Bank, FSB, Honolulu, HI and its parent, ASB Hawaii Inc., a savings & loan Holding Company. In this week’s Jumbo Rate News we address…
Because People Still Need/Want that Human Touch
The number of Federally-Insured credit unions was cut by nearly 15% in the 5 years ended March 31, 2023, yet membership climbed more than 20%. The big keep getting bigger while the small fight to survive. Fifty-one 5-star credit unions…
The Fewer the Bank Branches, the More They Matter
Over 2,100 bank branches closed their doors during the 12 month period ending June 30, 2023. Yet, 977 new bank branches opened for business during that same 12 month period. Many of the new branches belong to 5-Star community banks.…
Still Trying to Tame Inflation
Fact: The target Fed Funds rate is up 2100% while Top short-term CD rates have risen over 1000% in the past 18 months. Loan rates react more quickly to rises in the Fed Funds rate. U.S. banks reported a 15.5%…
BofA Caught Double Dipping
Fact: Bank Service Charges have decreased more than 9% in the past 5 years. Top Offenders: While Bank of America and some other Big Banks have been popular targets for regulators, they are not the biggest offenders, at least not…
Should Multifamily Residential RE Worry Us?
Fact: Multifamily Residential Real Estate Loans have grown over 44% in the past 5 years. Top Lenders: JPMorgan Chase Bank, N.A., Columbus, OH is by far, the top lender of this type, however, 50 U.S. banks have at least one-third of their…
How Consumers are Coping with Higher Rates
What a difference a year makes, both in attitudes and in numbers. TransUnion®’s Second Quarter 2023 Consumer Pulse Study reports that 57% of Americans are optimistic when it comes to their household finances over the next year. That number, however,…
Advocacy is One Thing, Action Another
A lot of lip-service is given to the concept of equality and freedom, but that’s not the same as action. For some Minority Depository Institutions (MDIs), especially for Black/African-American MDIs, this year, the advocacy is changing into actual action. The first de…