The bank was already mulling headcount and compensation reductions in early September.

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

This year likely won't match 2022's heights, but executives expect loan growth to remain solid.

Truist Financial eliminated about 5% of its investment banking division amid uncertainty surrounding the dealmaking environment, according to people with knowledge with the matter.

Fourth Capital Bank's collaboration with the megalender is made possible through a partnership with Q2 Holdings.

Indexes show heightened expectations for a recession and souring loans. But executives are upbeat about middle-market businesses and overall job 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.

The layoff round, which a spokesperson said represents "less than one quarter of one percent of the roles in the company," comes after Rocket announced a 20-person reduction in the marketing team in early January.

The Pittsburgh bank posted a solid profit and said that it expects continued loan growth. But the pace of business expansion could slow alongside an economic downturn.

The move, which comes with an unspecified number of layoffs, is expected to cost the company $3.8 million to $4.6 million in pretax charges in the second quarter.

Northpoint's description of insider wrongdoing as cause for its November security leak is a rare admission of the type of cyberattack a mortgage firm has suffered.

The Arizona-based lender has been in business for 35 years and has branches in over 20 states.

She led two mortgage companies in a male dominated industry, and most recently was CEO of risk management firm Dytrix.

Kindred Home Loans will serve buyers of properties in Dallas and San Antonio markets.

The partnership will expand UHM reach to new markets in Florida, Michigan, Ohio, North Carolina and California.

The firm said it would still originate and service loans out of the office where the cost-cutting measures will occur.

Dicier credit conditions, recession fears and tougher regulatory scrutiny combined to weaken merger activity in 2022. A push for scale is bound to resume when interest rates level off — at least among smaller banks, analysts say.

In a new survey, executives at banks and credit unions registered the highest level of anxiety about a forthcoming data-collection rule in small-business lending.

The uptick in the 60-day-plus metric could reverse the bulk of the decline that occurred between 2019 and 2021.

A special-purpose acquisition company is merging with a bank as its affiliated startup still lacks its own national bank charter.