Do you know what U.S. bank has the highest dollar volume of domestic credit card loans on its books? If you said 4-Star rated CitiBank N.A., SD then you’re right. Based on June 30, 2018 financial data CitiBank has $129 billion in credit card loans, followed by…
According to the FDIC’s Quarterly Banking Profile (QBP) for June 30, 2018, bank industry loans to consumers increased nearly five and half percent from June 30, 2017 to June 30, 2018. Credit card loans, a subset of those consumer loans, increased 7.4% during the same time frame. For the most part, consumers are managing credit card debt well.
The Federal Reserve raised the target Fed Funds rate another quarter point at its Open Market Committee meeting on Wednesday. As always, banks began raising their lending rates immediately and, as always, CD rates will follow. In fact, they’ve already begun.
Last week we reported that the percent of recommended credit unions (i.e. rated 5-Stars or 4-Stars) now exceeds 81% of the total. Of those, 111 that were 4-Star rated last quarter have now earned Bauer’s highest, 5-Star rating. They can be found on page 7 and on the supplement to this week’s issue.
What we also want to discuss is the growing number of strong credit unions looking to buy community banks.
On Friday, August 31, 2018, the NCUA liquidated Zero-Star Melrose Credit Union, Briarwood, NY. We have reported several times in the past on Melrose CU, which was the largest taxi medallion lender in New York, and hence in the country.
The origin of taxi medallions dates back to the 1930s as a means to limit the number of cabs on the streets and allow cab drivers to earn a decent living. These medallions…
September 13, 2018: BauerFinancial, Inc., Coral Gables, FL, the nation’s leading independent bank and credit union rating firm announces it has newly released bank and credit union star-ratings (based on June 30, 2018 financial data) available on its website, bauerfinancial.com.…
The OCC closed out the month of August with an updated “Other Real Estate Owned” (OREO, primarily real estate acquired via foreclosure) portion of the Comptroller’s Hand-book. The handbook is intended to provide guidance to examiners but serves as a tool for bankers and real estate investors as well.
The part we honed in on was…
The FDIC released a mostly positive Second Quarter 2018 Quarterly Banking Profile last Thursday. Net income got a healthy boost from lower tax rates as banks reported net income of $60.2 billion for the second quarter 2018, $12.1 billion or 25.1% higher than second quarter 2017. Had it not been for the new tax rate, net income would have gained $5.6 billion or 11.7%…
The FDIC currently has 82 banks on its Problem Bank List, down from 92 last quarter. Bauer currently has 91 banks on its Troubled and Problematic Report, down from 101 last quarter.
After a 10 year drought, De Novo activity is finally picking up with the help of some very talented bankers with years of experience under their belts. What could be better than to have these seasoned professionals filling the needs of businesses and consumers that are in search of a community bank?
Wish we’d thought of that. But alas, the credit for that slogan goes to JRN listee 5-Star BMO Harris Bank, Chicago, IL. We have reported several times on the excessive fees charged by some banks (JRN 33:08), especially those that cater to our military and their families (a la 5-Star FSNB (formerly Fort Sill National Bank, Lawton, OK, which has a service fee to transaction deposit ratio of nearly 22%, one of the highest of any bank in the nation).
This week, however, we would like to laud community banks that have low service fee charges when compared to transaction deposit dollars.