Corporate finance

Chase, Wells Fargo both reported increased gain on sale margins in the first quarter over the fourth, a potentially promising indicator for upcoming IMB earnings.

The use of the Federal Reserve's emergency lending facilities was largely unchanged this week, indicating to some that the recent liquidity crisis isn't getting any worse.

Banks reported record growth in net interest margins in 2022, but net income still fell, and the industry "continues to face significant downside risks" from inflation and other factors, Martin Gruenberg says.

A pullback by the buyers of Upstart's consumer loans led to a "challenging year," CEO Dave Girouard told analysts. But he added that the company is in "late-stage discussions" with partners that are looking to make longer-term commitments.

The buy now/pay later lender posted larger-than-expected losses, and following its layoffs it will deemphasize products with an uncertain short-term outlook, such as crypto trading.

The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.

After soured loans rose above the private student lender's expectations in 2022, its stock price fell 16% on Thursday. One analyst wrote that "persistent credit issues have damaged management's credibility."

The card network sees digital payment opportunities and upside from China's reopening, but inflation and the slower pace of travel spending could slow growth.

The loan-growth projections are for Columbia Banking System itself, before the Tacoma, Washington, bank officially merges with Umpqua Holdings. The $5 billion deal is scheduled to close Feb. 28.

Members of the American Bankers Association's Economic Advisory Committee expect gross domestic product to stall in 2023. Other surveys show a modest contraction. Lenders say sentiment among their borrowers also points to a slight slowdown.