REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Oct 18 (Reuters) - Several U.S. regional banks beat analysts third-quarter profit expectations on Wednesday as higher interest rates allowed them to charge more for loans, although rising loan loss provisions and deposit retention costs crimped margins.
Shares of several regional banks fell, including M&T Bank and US Bancorp.
Regional banks remain a focus of investor scrutiny.
The KBW regional banking index (.KRX) is down nearly 24% year-to-date, while the S&P regional bank (.SPCOMBNKS) has also dropped 33% in the same period.
Citizens Financial Group (CFG.N) and First Horizon Corp (FHN.N) both reported a decline in their third quarter profit weighed down by rising credit loss provisions and deposit costs.
Persons:
Brendan McDermid, Chris Marinac, Janney Montgomery Scott, Marinac, Citizen Financial's, Chibuike Oguh, Michelle Price, David Gregorio Our
Organizations:
New York Stock Exchange, REUTERS, U.S, T Bank, US Bancorp, T Bank Corp, Wall, Bank, Citizens Financial, Horizon Corp, Citizens, Citizen, Thomson
Locations:
New York, U.S, Silicon