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☆ The next airport terminal lounge or club you pass may also be a bank branch
▼ + stars: | 2024-05-03 | by ( Kevin Williams | ) www.cnbc.com time to read: +9 min

"One woman wanted to rent my office to work," remembers Lisa Slocum, the airport Fifth Third Bank branch manager. Capital One closed its branch at Washington, D.C.'s Dulles International Airport in 2020, instead creating "airport lounges" for cardholders in Dulles, along with similar spots at airports in Denver and Dallas. Yet full-service airport bank branches are a relative rarity, surprising in a retail landscape that often resembles an upscale mall more than a terminal. Fifth Third BankWells Fargo operates a full-service branch in Las Vegas's Harry Reid International Airport, and according to a bank spokeswomen, has a multi-year relationship with the airport that involves both the branch and multiple ATMs throughout terminals. McAdam says ATMs and advanced-function kiosks are one thing, but a full-service branch, except maybe in the largest markets, is overkill.

Persons: Kevin Williams Nicolette Nelson, Nelson, It's, Lisa Slocum, Slocum, Hannah Thelen, Ashley Thelen, Mindy Kershner, CVG's, Marketing Brent Andersen, Andersen, that's, Chase, John Sieg, Sieg, Harry Reid, Wells Fargo, Brian Davis, Paul McAdam, Power, McAdam Organizations: Northern, Northern Kentucky International, Fifth Third Bank, Fifth, Bank, TSA, Third, Dulles, Airport, Capital One, Washington , D.C, Wings Credit Union, Paul International Airport, Wings, Marketing, JPMorgan Chase, PNC, Sky, Fifth Third Bank Wells, Harry Reid International Airport, Truist Bank, Hartsfield, Jackson Atlanta International Airport, Financial Locations: Fairbanks, Cincinnati, Northern Kentucky, Spain, Washington ,, cardholders, Dulles, Denver, Dallas, it'd, Kentucky, Minneapolis, St, Las, Vegas, New York City, New York

☆ The banking system is very sound: Fifth Third Bank CEO one year after Silicon Valley Bank's collapse
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe banking system is very sound: Fifth Third Bank CEO one year after Silicon Valley Bank's collapseTim Spence, Fifth Third Bank CEO, joins 'Closing Bell Overtime' to talk the state of regional banks one year after the collapse of SIlicon Valley Bank.

Persons: Tim Spence Organizations: Third Bank, Fifth Third Bank Locations: Silicon

☆ A man robbed a bank days after being found not guilty of robbing a different bank, prosecutors say
▼ + stars: | 2024-01-25 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +2 min

Read previewA man recently declared innocent of bank robbery robbed a different bank within days of the verdict, according to federal prosecutors. Mohamed Worku, 31, is accused of bank robbery and theft after silently handing a demand note to a teller at an Illinois Citibank on January 22, court documents show. Less than a week earlier, Worku was found not guilty in a strikingly similar case dating back to December 2021. Prosecutors have now said that on Monday, three days after his acquittal, Worku handed a Citibank teller a note that read: "Please give me the money. AdvertisementA note allegedly written by Mohamed Worku and shown to an Illinois Citibank employee on January 22, 2024.

Persons: —, Mohamed Worku, Worku, Mary Judge, Banker's gife Organizations: Service, Business, Illinois Citibank, Fifth Third Bank, Chicago Tribune, Prosecutors, Citibank, Federal Locations: Illinois

☆ Companies Hesitate on Specialized Industry Clouds
▼ + stars: | 2023-11-21 | by ( Isabelle Bousquette | ) www.wsj.com time to read: 1 min

Daniel Seay, CIO of Fifth Third Bank’s commercial bank division, says he hasn’t seen a ’catalyst’ for using a banking-specific cloud. Photo: Stephen Zenner/Zuma PressCloud platforms specialized for given industries are off to a slow start, with some companies saying they simply don’t need them, thanks to existing software and their own customizations. “There hasn’t been a catalyst to say, ‘I’m gonna go with an industry-specific cloud’,” said Daniel Seay , chief information officer of Fifth Third Bank’s commercial bank division. “I can use my private cloud or I can use one of the hyperscalers along with another software firm and meet my needs in a more cost-effective, proven way at this point.” (Hyperscalers refers to the largest cloud companies, among them, AWS, Microsoft Azure and Google Cloud.)

Persons: Daniel Seay, Stephen Zenner, hasn’t, I’m, ” Organizations: Zuma, Microsoft, Google

☆ Fifth Third expects further interest income weakness after quarterly profit falls
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Joe Skipper/File photo Acquire Licensing RightsOct 19 (Reuters) - Fifth Third Bancorp (FITB.O) said on Thursday it expects interest income (NII) to decline again in the current quarter after posting a 1.3% fall in third-quarter profit. The bank's net interest margin in the quarter contracted to 2.98% from 3.22% a year earlier. Cincinnati, Ohio-based Fifth Third sees net interest income - the difference between the interest banks earn on loans and pay out on deposits - down roughly between 1% and 2% in the fourth quarter. Fifth Third's third-quarter NII fell 4% from a year earlier to $1.44 billion. Average deposits at Fifth Third were up 4% at $165.64 billion in the third quarter compared with a year earlier.

Persons: Joe Skipper, Tim Spence, Pritam Biswas, Krishna Chandra Organizations: Fifth Third Bank, REUTERS, Third Bancorp, Fifth, Thomson Locations: Boca Raton , Florida, Cincinnati , Ohio, Bengaluru

☆ Fifth Third Bank CEO: Our credit metrics have been very well-behaved as delinquencies declined
▼ + stars: | 2023-10-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFifth Third Bank CEO: Our credit metrics have been very well-behaved as delinquencies declinedFifth Third Bank CEO Timothy Spence joins 'Squawk on the Street' to discuss the company's quarterly earnings results, the lower-than-expected credit provisions, and the risks Fifth Third is willing to take going forward.

Persons: delinquencies, Timothy Spence Organizations: Third Bank, Fifth Third Bank

☆ Bank earnings kick off with JPMorgan, Wells Fargo amid concerns about rising rates, bad loans
▼ + stars: | 2023-10-12 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

Just as they did during the March regional banking crisis, higher rates are expected to lead to a jump in losses on banks' bond portfolios and contribute to funding pressures as institutions are forced to pay higher rates for deposits. The issue constrains the bank's interest revenue and has made the lender the worst stock performer this year among the top six U.S. institutions. Expectations on the impact of higher rates on banks' balance sheets varied. Still, others including KBW and UBS analysts said that other factors could soften the capital hit from higher rates for most of the industry. There's also concern that higher interest rates will result in ballooning losses in commercial real estate and industrial loans.

Persons: Jamie Dimon, Marco Bello, Christopher McGratty, David Konrad, McGratty, Morgan Stanley, Betsy Graseck, Konrad, Gerard Cassidy Organizations: JPMorgan Chase &, Reuters, JPMorgan Chase, Citigroup, Bank, Silicon Valley Bank, First, Bank of America, Comerica, Fifth Third Bank, KeyBank, UBS, RBC Locations: Miami , Florida, U.S, Wells Fargo, Silicon, First Republic

☆ A former biology teacher who bought a small-town bookstore explains how she made the business profitable and competes with behemoths like Amazon
▼ + stars: | 2023-09-15 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +14 min

Outside the front door of Main Street Books sits a three-tiered cart with neatly stacked brown bags filled with books. The "Curbside Pickup" cart, which sits outside Main Street Books, was born out of the coronavirus pandemic. Courtesy of Main Street BooksMain Street Books is on Main Street in Davidson, North Carolina, nestled between another local business, Summit Coffee, and a Fifth Third Bank. In 2018, the best-selling author David Sedaris came to Main Street Books for a reading. When the COVID-19 pandemic hit in March 2020, like most businesses, Main Street Books was forced to close.

Persons: Adah Fitzgerald, she's, she'd, —, bookstore's, They're, it's, Fitzgerald, — Barbara Freund, Betty Reinke —, stepdad, David Sedaris, Fitzgerald didn't, That's, Andrea Jasmin, Beth Helfrich, Catherine Edmondson, Kendra Adachi, QuickBooks Organizations: Small, Service, Fifth Third Bank, Books, Woodlawn School, Davidson College, Street Books, American Booksellers Association Locations: breakeven, Davidson , North Carolina, Davidson

☆ Conservatives hope Supreme Court defangs US consumer watchdog
▼ + stars: | 2023-09-12 | by ( John Kruzel | ) www.reuters.com time to read: +6 min

But the watchdog's future may be in peril thanks to a case now before the U.S. Supreme Court. Pro-business conservatives and their Republican allies believe the court fight has brought them closer than ever to dismantling the CFPB. Congress, then controlled by Democrats, authorized the agency to supervise certain financial institutions' compliance with federal consumer laws, backed by the threat of lawsuits and fines. Circuit Court of Appeals last October ruled that the agency's funding structure violated the Constitution. Biden's administration told the Supreme Court that the CFPB's funding structure approved by Congress - with a fixed amount going to the agency annually - was effectively "a standing, capped lump-sum appropriation."

Persons: Clarence Thomas, Samuel Alito, Kevin Wurm, Wells, Joe Biden's, Ellen Harnick, Barack Obama, Mick Mulvaney, Donald Trump, Mulvaney, John Kruzel, Douglas Gillison, Will Dunham, Scott Malone Organizations: U.S, Supreme, REUTERS, Rights, Consumer Financial, Bureau, Fifth Third Bank, U.S . Federal, Congress, Center for Responsible, Republican, Democrats, Republicans, Republican U.S, Community Financial Services Association of America, Consumer Service Alliance of Texas, Circuit, Trump, Federal Deposit Insurance Corporation, Office, Federal Reserve, Thomson Locations: Washington , U.S, New Orleans

☆ What does Moody’s downgrade mean for markets?
▼ + stars: | 2023-08-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Moody’s on Monday evening downgraded 10 US banks and put the credit ratings of six others on review, an indication that the agency could also eventually downgrade those institutions. Some investors say that while the Moody’s downgrade isn’t groundbreaking, it’s a reminder that the economy, and markets, still have challenges ahead. Moody’s downgraded Commerce Bank, BOK Financial, M&T Bank, Old National Bank, Prosperity Bank, Amarillo National Bank, Webster Financial, Fulton Financial, Pinnacle Financial and Associated Bank. Wall Street firms fined $549 million for using WhatsApp and other channelsWells Fargo is among a number of Wall Street firms that admitted Tuesday to using WhatsApp, Signal and other messaging platforms for “off-channel” communications in violation of federal recordkeeping requirements. The Securities and Exchange Commission said the Wall Street firms acknowledged wrongdoing and have agreed to pay penalties totaling $289 million, reports my colleague Matt Egan.

Persons: CNN — Moody’s, JPMorgan Chase, Wells, Goldman Sachs, BNY, Cullen, Frost, ” Moody’s, ”, Kara Murphy, Fitch, Christopher Marinac, Janney Montgomery Scott, Price, Matt Egan, Houlihan Lokey, Alicia Wallace Organizations: CNN Business, Bell, CNN, Bank, Dow Jones, Nasdaq, JPMorgan, Banking, BNY Mellon, Northern Trust, Frost Bankers, Truist Financial, US Bank, Moody’s, Commerce Bank, BOK, T Bank, National Bank, Prosperity Bank, Amarillo National Bank, Webster Financial, Fulton Financial, Pinnacle Financial, Associated Bank, PNC Financial Services, Financial, Citizens Financial, Fifth Third Bank, Huntington Bank, Regions Financial, Cadence Bank, FNB Corp, Simmons, Ally Financial, Bank OZK, Valley Bank, Signature Bank, Federal Reserve, Kestra Investment Management, Consumer, Wall Street, Securities, Exchange Commission, SEC, BNP, SG Americas, BMO Capital Markets, Mizuho Securities, SMBC Nikko Securities, Federal Reserve Bank of New Locations: Wells Fargo, Amarillo, Marinac, Wells, SMBC Nikko Securities America, WhatsApp, Federal Reserve Bank of New York, York

☆ Here's exactly how much I made as a JP Morgan trader and Buzzfeed account executive. I have no regrets leaving behind my $656K job to become my own boss.
▼ + stars: | 2023-07-19 | by ( Aria Yang | ) www.businessinsider.com time to read: +8 min

Tu says leaving Wall Street was one of the best decisions she's ever made. I wanted to go on to Wall Street because that's what everybody else was doing. I chose Wall Street because a lot of my friends were interviewing for Wall Street jobs, and I didn't want to be left behind. I had never really thought about investing or growing my wealth until I hit the desk on Wall Street. Buzzfeed:Digital Media Strategy Salesperson, $80K base salary + commissionsAccount Executive, Client Partnerships, $100K base salary + $127K commissionsSenior Account Executive, Client Partnerships (2020), $110K base salary + $252K commissionsSenior Account Executive, Client Partnerships (2021), $120K base salary + $536K commissionsI worked on the digital marketing strategy sales team at BuzzFeed, focusing on establishing partnerships with brands.

Persons: Vivian Tu, Morgan, she's, —, JP, JP Morgan, Rich BFF, it's, I've, Rich, Aria Yang Organizations: University of Chicago, Wall, Chicago, Fifth Third Bank, JP Morgan, Media, BuzzFeed, YouTube Locations: BuzzFeed

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☆ This regional bank is a 'compelling value’ amid tough time for sector, Piper Sandler says
▼ + stars: | 2023-06-15 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Recent updates from bank executives reinforce the idea that while deposits have stabilized, the industry faces pressure from rising funding costs, weaker lending and coming regulations, according to Piper Sandler analysts. The analysts named two picks for the current environment: "From here, our favorite large regional is Fifth Third Bank , and we find U.S. Bank a compelling value for patient investors," Siefers wrote. Regional bank stocks have r ebounded off the year's lows in recent weeks. The analyst said that customers' move away from non-interest bearing deposits and falling demand for loans have prompted several regional banks to lower their 2023 guidance for net interest income. Fifth Third Bank is "now among the most conservative on through-the-cycle [deposit] assumptions and preparedness for a sustained challenging environment," Siefers wrote.

Persons: Piper Sandler, Scott Siefers, Siefers, Piper Sander, CNBC's Michael Bloom Organizations: Fifth Third Bank, U.S, Bank, Silicon Valley Bank Locations: Silicon

☆ Wall Street analysts like these regional bank stocks if you can withstand the chaos in the market
▼ + stars: | 2023-05-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The continued slide for regional bank stocks after the failure of First Republic last week has created some buying opportunities in the sector, according to Wall Street analysts. "We believe this recent stock reaction is overdone as there is currently no evidence of accelerating deposit outflows. We see accelerating deposit costs, not accelerating deposit outflows, as the most significant headwind for the midcap banks over the next several quarters," Gosalia wrote. Huntington and Webster also rise to the top of the heap for RBC Capital Markets analyst Jon Arfstrom. Both Huntington and Webster are down about 30% for the year, which is better than the SPDR S & P Regional Banking ETF (KRE).

☆ Fifth Third Bank CEO expects core deposit balances to be stable through year end
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFifth Third Bank CEO expects core deposit balances to be stable through year endFifth Third Bank CEO Timothy Spence joins 'Squawk on the Street' to discuss what he sees ahead in the financial sector after a heavy regional banking sell-off.

☆ Next week's stock market moves hinge on the longer-term outlook for earnings
▼ + stars: | 2023-04-14 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

Next week's market action could be dictated by how well the latest quarterly reports from corporate America are received. Expectations about the immediate earnings outlook have been down for so long, the actual numbers themselves could look like up to investors. Earnings for all financials in the S & P 500 are actually expected to expand in the first quarter by 4.3%. ET: NAHB Housing Market Index (April) Earnings: Charles Schwab, M & T Bank, State Street, J.B. Hunt Transport Tuesday 8:30 a.m. ET: Philadelphia Fed President Patrick Harker speaks on the economic outlook Earnings: AT & T, American Express, D.R.

☆ New White House bank regulation plan impacts short list of banks
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

[1/3] A First Republic Bank branch is pictured in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike Segar/File PhotoWASHINGTON, March 30 (Reuters) - The White House's plan to strengthen the U.S. banking system announced on Thursday makes new demands on a small group of midsized banks. The plan asks regulators to demand banks with between $100 billion and $250 billion in assets increase liquidity and capital, and submit to extra stress tests, among other changes. BANK ASSETS, BILLIONCitizens Bank $226.4First Republic $212.6Morgan Stanley Priv. Bnk $209.7Silicon Valley $209.0Fifth Third Bank $206.3Morgan Stanley Bank $201.4Manufacturers & Traders $200.3Keybank $187.6Huntington $182.3Ally Bank $181.9BMO Harris $176.9HSBC Bank USA $162.4American Express $155.4Northern TC $154.5Regions Bank, AL $154.2Discover $129.4Signature $110.4First Citizens $109.2MUFG Union $104.4Reporting by Dan Burns; Writing by Heather Timmons; Editing by Anna DriverOur Standards: The Thomson Reuters Trust Principles.

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☆ Insiders in the banking sector scoop up shares during spreading crisis
▼ + stars: | 2023-03-22 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Insiders in the banking sector snapped up shares of their own companies in what could be a show of faith as the unfolding crisis sent stocks sharply lower. The collapse of Silicon Valley Bank, Signature Bank and Silvergate Capital prompted regulators to provide emergency rescue actions that calmed immediate funding concerns. Stephens Bank said about 40% of banks in its coverage have disclosed insider purchases since March 6. A total of 11 insiders at Valley National Bancorp bought shares in the past two weeks, including purchases by its CEO and several directors. PacWest shares have rebounded 9% this week, but are still down 63% this month.

☆ Regional bank stock plunge creating key entry point for investors, top analyst says
▼ + stars: | 2023-03-13 | by ( Anna Gleason | ) www.cnbc.com time to read: +1 min

The dramatic drop in regional bank stocks is a key entry point for investors, according to analyst Christopher Marinac. The SPDR S&P Regional Banking ETF dropped by more than 12% on Monday after regulators shuttered Silicon Valley Bank and Signature Bank. When asked which regional banks look most attractive, Marinac recommends Fifth Third Bank . Marinac also named Truist as a top sector pick, saying the company has a competitive advantage among regional banks after selling a portion of its insurance unit. Truist stock has dropped 30% over the past five sessions.

☆ I am exceptionally comfortable with the position we got, says Fifth Third Bank CEO Timothy Spence
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI am exceptionally comfortable with the position we got, says Fifth Third Bank CEO Timothy SpenceTimothy Spence, Fifth Third Bank CEO, joins 'Squawk on the Street' to discuss his thoughts on fallout over the collapse of Silicon Valley Bank.

☆ The Second-Biggest Bank Failure
▼ + stars: | 2023-03-10 | by ( Karl Russell | Christine Zhang | ) www.nytimes.com time to read: +5 min

A bar chart of U.S. bank failures since 2001, showing that Silicon Valley Bank’s collapse was the second-biggest in U.S. history in terms of assets. Before Silicon Valley Bank, the last firm to fail was in late 2020, as the coronavirus was ravaging the country. It’s unclear whether the collapse of Silicon Valley Bank will spread to the broader industry. Silicon Valley Bank 209 17. Silicon Valley Bank 209 Fifth Third Bank 17.

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We selected Capital One 360, Synovus Bank, Regions Bank, Delta Community Credit Union, and Credit Union of Atlanta as the best banks and credit unions in Georgia. These financial institutions have savings account rates that are lower than the average savings account. Delta Community Credit Union members will need to open the Delta Community Credit Union Personal Savings Account. Robins Financial Credit Union (Federally insured by the NCUA): Robins Financial Credit Union has a free checking account, but our top credit union has lower minimum opening deposits. We reviewed the 10 biggest banks and credit unions in the state, plus any financial institutions featured in our Black-owned banks and credit unions guide and Hispanic American-owned banks and credit unions guide.

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