Latest news with #commercialbanking
Globe and Mail
22-07-2025
- Business
- Globe and Mail
First Bank Welcomes Chris Layne as Greater Richmond Market Executive
STRASBURG, Va., July 22, 2025 (GLOBE NEWSWIRE) -- First National Corporation (the 'Company' or 'First National') (NASDAQ: FXNC), the bank holding company of First Bank (the 'Bank') is pleased to announce the addition of Chris Layne as Senior Vice President, Regional Market Executive for Richmond. Chris will be responsible for all lines of business banking and business development in the Richmond market. 'We're proud to welcome Chris to the First Bank team as our new market leader for the greater Richmond region. His deep roots in the community and proven leadership will strengthen our commitment to local relationships and personalized service,' said Scott C. Harvard, CEO of First National Corporation and First Bank. 'At First Bank, we believe in the Power of One – one community, one team, one trusted partner – and Chris embodies that spirit.' Chris has over two decades of experience in commercial banking, operational transformation, and strategic growth in the greater Richmond market with area regional and local banks. He holds a Bachelor of Arts in Business Administration from the University of La Verne, a Master of Business Administration from Averett University, and is a graduate of the ABA Stonier Graduate School of Banking at The Wharton School, University of Pennsylvania. 'As we continue to grow in key markets, it's essential we have the right leadership in place to support our customers and empower our employees,' Joe Shearin, President of the Greater Richmond Market, which includes Southside Virginia into northern North Carolina, commented. 'Chris brings the experience, vision, and collaborative spirit that will enhance the strong teams we already have in place. Those teams will play a pivotal role in deepening relationships and expanding our presence across the region.' Chris will report to Joe, ensuring strong alignment within our market leadership structure. A proud veteran of the United States Air Force and Air Force Reserve with over 20 years of service, Chris brings the values of integrity, discipline, and service to every aspect of his leadership. He is deeply committed to community impact and currently serves on the Board of Directors and Executive Committee of ChamberRVA, and as Chair of the Board of Trustees for St. Joseph's Villa. He is also a member of the 2025 Class of Lead Virginia. He has held prior leadership roles with the Metropolitan Business League, Swift Creek YMCA, Capital Area Health Network, and Junior Achievement of Central Virginia. In addition, Chris co-founded and led TEAM KRL, a nonprofit organization based in his hometown of Huntington, West Virginia. Alongside two business partners, TEAM KRL helped mentor both male and female youth from low-to-moderate income environments, providing guidance, support, and positive role models to help shape their futures. 'I'm honored to join First Bank and build on its legacy of deep, personal relationships with our customers. My focus is on delivering responsive, high-quality service and working collaboratively with our team to meet the unique loan, deposit, and treasury needs of businesses and individuals across our market,' Chris stated. 'Together, we are committed to being the one partner you can trust in every stage of your financial journey.' Chris and his team stand prepared to meet the banking needs of small businesses, corporations, real estate investors, individuals, municipalities, and non-profits alike. First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg. The Bank offers loan and deposit products and services through its website, its mobile banking platform, a network of ATMs located throughout its market area, three loan production offices, a customer service center in a retirement community, and thirty-three bank branch office locations located through the Shenandoah Valley, the south-central regions of Virginia, the Roanoke Valley, the Richmond MSA, and in northern North Carolina. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc, which owns an interest in an entity that provides title insurance services.
Yahoo
21-07-2025
- Business
- Yahoo
AU Small Finance Bank Ltd (NSE:AUBANK) Q1 2026 Earnings Call Highlights: Strong Deposit Growth ...
Release Date: July 19, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points AU Small Finance Bank Ltd (NSE:AUBANK) reported a strong growth in its deposit book, which increased by 31% year-on-year, significantly outpacing the system growth rate. The bank's loan portfolio grew by 18% year-on-year, driven by core secured segments such as retail secured assets and commercial banking assets. The wheels segment, a key product within retail secured assets, showed robust growth with a 26% year-on-year increase in its gross loan portfolio. The bank maintained a healthy liquidity position with an average Liquidity Coverage Ratio (LCR) of 123%, up 7% from the previous quarter. AU Small Finance Bank Ltd (NSE:AUBANK) achieved a profit after tax of INR 581 crores, marking a 16% increase from the previous year. Negative Points The bank experienced elevated credit costs, particularly in its unsecured segments, leading to a revision in its full-year credit cost expectations. There was a decline in net interest margin by 38 basis points, attributed to a reduction in asset yield and investment yield. The unsecured microfinance book faced challenges with asset quality and book de-growth, impacting the bank's overall performance. The bank's mortgage portfolio in the southern region showed signs of stress, with higher credit costs due to deterioration in asset quality. The credit card and personal loans business experienced elevated credit costs, with the bank acknowledging a peak in absolute terms this quarter. Q & A Highlights Warning! GuruFocus has detected 6 Warning Signs with NSE:AUBANK. Q: How does AU Small Finance Bank expect its Return on Assets (ROA) to settle in FY26 and FY27, considering the pressure on net interest margin and credit costs? A: The bank has not provided specific guidance for ROA in FY26 but reiterates its target of achieving a 1.8% ROA for FY27. The bank expects FY26 to be stronger than FY25, which had an ROA of around 1.4%, despite the current challenges. (Respondent: Unidentified_3) Q: Can you elaborate on the stress observed in the used commercial vehicle (CV) segment? Is it geographically specific or broad-based? A: The stress in the used CV segment is not geographically specific but is related to the segment itself, which constitutes about 6% of the total yield assets. The pressure began last year due to delayed CapEx and heavy rains, but corrective measures have been taken, and the book is performing well post-adjustments. (Respondent: Unidentified_5) Q: What has structurally changed in the secured retail credit cost, which has been running higher than historical levels? A: The bank acknowledges that businesses go through cycles, and the current economic pressures have led to elevated credit costs. However, the bank remains one of the strongest franchises in terms of collection and asset quality. The expectation is for credit costs to stabilize in the range of 75-80 basis points. (Respondent: Unidentified_6) Q: What led to the stress in the microfinance (MFI) and South-based mortgage portfolios, and how is the bank addressing it? A: The stress in the MFI segment was due to a drop in collection efficiency, which is now improving. The South-based mortgage book faced challenges due to team transitions and infrastructure issues, which are being addressed. The bank expects normalization in a couple of quarters. (Respondent: Unidentified_5) Q: What is the outlook for loan growth in FY26, given the stress in some segments? A: The bank aims to grow 2 to 2.5 times the nominal GDP, with growth driven by vehicle financing, commercial banking, and gold loans. The bank expects stabilization and growth in the microfinance segment from Q2 onwards. (Respondent: Unidentified_2) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
17-07-2025
- Business
- Yahoo
Western Alliance Bank to Unify All Divisions Under One Brand
Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank to take on Western Alliance Bank name by year-end PHOENIX, July 16, 2025--(BUSINESS WIRE)--Western Alliance Bank (NYSE: WAL) ("Western Alliance" or the "Bank") today unveiled plans to unite all of the Bank's divisions under the Western Alliance Bank brand. By year-end, six division bank brands – Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank – will take on the Western Alliance Bank name. The Bank's AmeriHome Mortgage subsidiary and its affiliate Western Alliance Trust Company will continue with their current names. For over a decade, Western Alliance and its banking divisions have operated under the same charter, providing a range of commercial banking solutions and consumer products while fostering strong relationships with clients through personalized service. Originally focused on Western regional markets, the Bank has grown to include 17 national business lines today, with 56 offices and over 3500 employees located throughout the United States. "An exciting milestone as we continue to advance our National Commercial Bank strategy is achieving brand unity. By year-end, the markets we serve and the clients who are so important to us will know us as one strong bank, offering unmatched industry expertise and unparalleled, best-in-class service," said President and Chief Executive Officer Ken Vecchione. "As we move forward as one brand, our clients will enjoy seamless access to specialized services available through our national business lines, delivered by people they trust. Clients will continue to work with the bankers they know. Relationships will remain exactly as they are today." While the division brands may not be featured as prominently in the marketplace, they remain an important part of the Bank's heritage. Vecchione added, "We will continue to honor the history and customer loyalty associated with our legacy brands under Western Alliance Bank." About Western Alliance Bank With more than $80 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country's top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, clients benefit from a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by industry experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (previously Institutional Investor's) All-America Executive Team Midcap Banks 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bank. View source version on Contacts Media contact: Stephanie Whitlow, swhitlow@
Bloomberg
14-07-2025
- Business
- Bloomberg
Citigroup's India Commercial Banking Chief Vohra Exits
Citigroup Inc.'s India head of commercial banking, Bhanu Vohra, is leaving after about two and a half decades with the bank, according to people familiar with the matter. Vohra, a veteran banker who most recently led a team that provides global banking solutions to Indian mid-sized companies, is now on gardening leave and is exploring other career opportunities, said the people, who asked not to be identified discussing private information. He resigned a few weeks ago, they said.
Globe and Mail
11-07-2025
- Business
- Globe and Mail
JPM vs. WFC: Which Big Bank Stock Deserves a Spot in Your Portfolio?
JPMorgan JPM and Wells Fargo WFC are major U.S. banking giants with strong retail and commercial banking operations and are impacted by interest rate trends and economic cycles. JPMorgan is the largest U.S. bank with diversified strength across all areas of the financial sector, whereas Wells Fargo has regained strategic flexibility following the recent easing of its regulatory asset cap. Let us delve deeper and assess the prospects of each bank to determine which currently presents the stronger investment opportunity. The Case for JPMorgan JPMorgan is expanding its footprint in new regions despite the rise of mobile and online banking. The company plans to open more than 500 branches by 2027, with 150 already built in 2024. This initiative aligns with the company's broader effort to tailor its branch network to client needs, combining digital tools, expert guidance and an expansive physical footprint. With the Federal Reserve expected to keep interest rates steady in the near term because of tariff-related concerns, relatively high rates will likely support JPMorgan's net interest income (NII) and net yield on interest-earning assets as funding and deposit costs gradually stabilize. The company's NII is expected to be $94.5 billion in 2025 (up almost 2% year over year). JPM continues to be a dominant player in the investment banking (IB) business, holding the top position for global IB fees. While the company's capital markets performance was decent in the first quarter of 2025, near-term IB prospects appear uncertain due to economic instability. However, its leadership position in the space is likely to offer support. Further, JPMorgan cleared this year's stress test impressively. The company's projected common equity tier 1 (CET1) ratio was 14.2%, well-above the minimum requirement of 4.5%. Hence, it announced plans to increase its quarterly dividend by 7% to $1.50 per share and authorized a new share repurchase program worth $50 billion. JPMorgan remains vigilant about the effects of continuous high rates and quantitative tightening on its loan portfolio. As such, the company's asset quality is likely to remain under pressure in the near term. JPM expects card net charge-off (NCO) rates to be 3.6% this year, with the metric projected to rise to 3.6-3.9% in 2026. The Case for Wells Fargo One of the biggest developments for Wells Fargo in recent days has been the lifting of the $1.95 trillion asset cap imposed in the 2018 consent order by the Federal Reserve. This will likely result in a significant improvement in the company's financial performance and long-term strategic positioning. With this, the company can now boost deposits, grow its loan portfolio and broaden its securities holdings. This will lead to an increase in NII going forward. Moreover, WFC intends to expand fee-generating businesses like payment services, asset management and mortgage origination. These fee income-generating opportunities will bolster its top-line mix. Furthermore, Wells Fargo is adopting a more balanced approach to its operations. While the bank is reducing headcount and streamlining processes, it is investing in its branch network and digital upgrades. This allows the bank to maintain a focus on cost management. Wells Fargo is taking a strategic approach to its branch network, reducing its total branches by 3% year over year to 4,177 in 2024. At the same time, it is focused on modernization, having upgraded 730 branches last year, with plans to revamp the entire network over the next five years. These efficiency efforts are expected to result in $2.4 billion in gross expense reductions in 2025. Similar to JPMorgan, Wells Fargo also cleared the 2025 stress test. Post that, the company announced its intention to raise its quarterly dividend by 13% to 45 cents per share. Further, the company noted that it can continue repurchasing shares. As of March 31, 2025, it had the authority to buy back up to $3.8 billion of common stock. JPMorgan & Wells Fargo's Prospects The Zacks Consensus Estimate for JPM's 2025 revenues suggests a 1.3% decline, while for 2026, revenues are expected to grow 2.6%. Likewise, the consensus estimate for earnings implies a 5.6% fall for this year. However, earnings are projected to increase 5.9% next year. Image Source: Zacks Investment Research On the contrary, the Zacks Consensus Estimate for WFC's 2025 and 2026 revenue implies year-over-year growth of 1.7% and 5.4%, respectively. The consensus estimate for earnings indicates an 9.3% and 14.3% rise for 2025 and 2026, respectively. WFC Earnings Estimate Image Source: Zacks Investment Research JPM & WFC: Price Performance, Valuation & Other Comparisons While 2025 started on a positive note, Trump's tariff plans and geopolitical tension resulted in massive volatility, upending bullish investor sentiments. This year, shares of JPMorgan and Wells Fargo gained 20.3% and 17.3%, respectively. JPM & WFC YTD Price Performance Further, both have outpaced the S&P 500 Index. In terms of investor sentiments, JPMorgan clearly has the edge. In terms of valuation, JPM is currently trading at a 12-month forward price-to-earnings (P/E) of 15.06X, while WFC stock is currently trading at a 12-month forward P/E of 13.21X. P/E F12M Meanwhile, the industry has a 12-month forward P/E of 14.58X. Hence, Wells Fargo is trading at a discount compared with the industry and JPM. JPMorgan's return on equity (ROE) of 16.88% is above WFC's 12.15%. Further, the industry's ROE is 11.93%. This reflects that JPM is more efficiently using shareholder funds to generate profits. ROE JPMorgan or Wells Fargo: Which Lender is a Smarter Bet? While Wells Fargo's regained regulatory flexibility positions it for long-term growth and operational expansion, JPMorgan remains the stronger investment option at present. With its unmatched scale, diversified business model, industry-leading investment banking operations and robust capital return plans, JPM is better equipped to navigate economic uncertainty and deliver consistent shareholder value. Despite near-term earnings pressure, JPMorgan's superior ROE, dominant market position and stronger investor confidence justify a premium valuation. For investors seeking a resilient, well-rounded financial stock with both income and growth potential, JPM stock offers the more compelling case. Currently, JPM and WFC both carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. #1 Semiconductor Stock to Buy (Not NVDA) The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow. One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Wells Fargo & Company (WFC): Free Stock Analysis Report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report
