Evelyn Mitchell News
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The Nashville Symphony, facing a 60 percent decline in donations and $40 million in flood damage to its concert hall, is in talks with Bank of America Corp. to restructure debt issued to build the facility.
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Wells Fargo & Co., the bank with the stage coach logo, is the only U.S. lender among the four largest to gain deposits in some Northern Plains states as customers flood banks with cash from an energy boom.
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Regions Financial Corp. Chief Executive Officer Grayson Hall will add chairman to his title after Earnest W. Deavenport retires in May.
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Capital One Financial Corp. said it was the latest target in a new round of coordinated cyber attacks aimed at disrupting the websites of major U.S. banks, and SunTrust Banks Inc. and Regions Financial Corp. said they expect to be next.
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Banks facing lower revenue from debit-card and overdraft fees are ramping up marketing of small short-term loans, prompting regulators to question if they carry the same risks to borrowers as other forms of payday lending.
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U.S. banks probably won’t need to raise more capital even as they struggle to maintain earnings with low interest rates squeezing lending margins, said Richard Bove, an analyst at Rochdale Securities.
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Regions Financial Corp. is offering as much as $200 million to help finance the sale of its Morgan Keegan brokerage unit, said people with knowledge of the matter.
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Citadel LLC and Lansdowne Partners Ltd. boosted stakes in Regions Financial Corp. in the second quarter, mimicking earlier bets by hedge fund Paulson & Co., before the bank led this month’s rout in U.S. financial stocks.
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Raymond James Financial Inc. resumed talks to buy Regions Financial Corp.’s Morgan Keegan brokerage unit, setting up a bidding contest with Stifel Financial Corp., said three people with knowledge of the matter.
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Regions Financial Corp., the 10th- largest U.S. bank by deposits, reported third-quarter profit that beat analysts’ estimates as net charge-offs and loan-loss provisions declined.
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