Latest news with #WilliamRogers
Yahoo
5 days ago
- Business
- Yahoo
Truist's second-quarter profit rises on higher interest income, friendlier comparisons
(Reuters) -Truist Financial reported a rise in second-quarter profit on Friday, helped by higher interest income and friendlier comparisons to the year-ago period. The U.S. Federal Reserve's series of interest rate cuts during the second half of 2024 has spurred banks to actively reduce deposit costs across their portfolios. Truist's net interest income — the difference between the interest it pays on deposits and what it earns on loans — rose 1.7% to $3.59 billion from a year ago. This reflects a 24 basis points (bps) reduction in the average cost of total deposits. Shares of the company rose 2% in premarket trading. The lender also benefited as securities losses, part of its non-interest income, narrowed to $18 million in the quarter, compared to a $6.65 billion loss recorded in the year-ago period. Truist's non-interest income swung to $1.4 billion in the quarter, compared to a $5.21 billion loss a year earlier. The Charlotte, North Carolina-based bank reported a 28.3% fall in its investment banking and trading income. Peer Citizens Financial also reported a drop in capital market fees on Thursday. Early in the quarter, M&A activity was scuttled to a 20-year low after U.S. President Donald Trump's tariffs, which have now eased. Executives expect greater dealmaking in the second half of 2025, as stabilizing financial markets benefit from lighter regulation. The bank's M&A pipeline is "probably the strongest it's been in the last several years," William Rogers, Truist's chairman and CEO, said at the Morgan Stanley Financials Conference last month. Truist reported a profit of $1.18 billion or 90 cents per share in the reported quarter, compared to $830 million or 62 cents per share in the same quarter last year. Truist's shares have gained nearly 3.8% in 2025, as of last close, lagging a 12.2% rise in the KBW Banking Index. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Miami Herald
04-07-2025
- General
- Miami Herald
Man last got new furniture in 1988. Now big Powerball win means he'll get more
A man from Iowa won a huge lottery prize after he chose to pick his own Powerball numbers. William Rogers, of West Des Moines, said his wife likes when he lets the computer pick his lottery numbers, but he decided he wanted to pick his own this time, according to a July 3 news release from the Iowa Lottery. 'She prefers if I go and let the computer pick it,' Rogers told lottery officials. 'She always knows when I pick the numbers because she recognizes some. Now I don't think she'll ever, ever say, 'Don't you pick it!' because I picked all these and I got five out of six.' Rogers played the Powerball for the July 2 drawing and added a Power Play, which doubled his winnings to $100,000. He checked his ticket while he and his wife drank coffee and said he was left in shock. 'Obviously, my eyes got big,' Rogers said. 'They widened up. I couldn't believe it and had to look at it multiple times to be sure.' Rogers and his wife discussed what they wanted to do with the prize money. He said the last time they bought new furniture was in 1988, so they plan to buy more, as well as save for the future. 'We're not going to go out and blow it,' he told lottery officials. 'That's just how our lifestyle has been.' The winning numbers were 7-19-21-54-63 and Powerball 21. No one won the jackpot, and it now stands at roughly $190 million for the July 5 drawing. What to know about Powerball To score the jackpot in the Powerball, a player must match all five white balls and the red Powerball. The odds of scoring the jackpot prize are 1 in 292,201,338. Tickets can be bought on the day of the drawing, but sales times and price vary by state. Drawings are broadcast Saturdays, Mondays and Wednesdays at 10:59 p.m. ET and can be streamed online. Powerball is played in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
