We all like to get our jobs done in the most efficient way that’s practical, but for banks there are many factors that go into the efficiency equation that don’t apply to the average person. How new is the institution?…
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6 Banks Hold 50% of Consumer Loans
Hard to believe, but it’s true. Only 6 (Big) banks hold 50% of all industry loans to consumers. While 50 banks hold a full 90%. That means that just 10% of consumer loans were extended by the other 4,500 plus…
Loan Quality: Fair But Partly Cloudy
Between 9/30/22 and 9/30/23, loans 90 days or more past due increased 17.6%. Short-term (30-89 days) past dues increased 9%. We are very curious to see what year-end data looks like as we are already seeing signs of deterioration with…
Bank Branch Closures Exceeded 1,500 in 2023
Last year, over 300 banks shed in excess of 1,500 branch offices. Three Big Banks, Wells Fargo Bank, PNC Bank, and Truist Bank, with a combined net loss of 650 branches, were responsible for 40% of those lost branches. When Big Banks…
Large Bank Acquisitions of 2023
In addition to some very high-profile bank failures, 2023 witnessed several other large bank mergers and acquisitions, in spite of “supposed” increased scrutiny on these combinations. Some of the largest can be found on page 5 of this week’s issue of Jumbo…
2023: Another Crazy Year for the Books
In this week’s issue of Jumbo Rate News we take a look back at some of the major events that impacted the banking industry in 2023 – from the failures of some rather large banks early on in the year,…
True Love or Insanity
For 40 years now, 4-Star PNC Bank, N.A., Wilmington, DE (formerly Provident National Bank) has provided us with a whimsical inflation reminder. It calculates how much it would cost to purchase all of the items from the “Twelve Days of…
New CU Star-Ratings + Is There a Soft Landing in Sight?
All credit union and bank star-ratings and reports are now updated based on third quarter 2023 financial data. After the failures this spring of Silicon Valley Bank, Signature Bank and First Republic Bank, a number of big bank deposits made their…
The Grinch(es) Who Stole PPP Money
According the Federal Reserve Bank of St Louis, 90% of all PPP loans had been forgiven by June 20, 2022. Yet, at September 30, 2023, more than a year later, over 1,400 U.S. banks are still reporting some amount of…
New Bank Star Ratings Just Released
All bank star ratings are now based on third quarter 2023 financial data and the word of the day is resilience. However, Bauer currently rates 49 banks 2-Stars or below. (That’s four fewer than last quarter and two fewer than…