Bank Watch roundup: BofA cuts range of possible loss
05/02/2014 7:00 AM
05/02/2014 7:31 AM
BOFA CUTS RANGE OF POSSIBLE LOSS: The Charlotte bank's quarterly filing is out, so here's a couple nuggets from the 10-Q: Bank of America cut its range of possible loss to $5 billion, from $6.1 billion at the end of the year. The figure represents what the bank thinks it could lose above what it's reserved for. The bank set aside another $2.4 billion in teh first quarter.
Also, Bank of America traders again had a perfect quarter, not losing money on any trading day. Last quarter, they lost money on 2 percent of trading days.
Bank of America cut its exposure to Russia by 22 percent as the Ukraine situation plays out, Bloomberg points out.
FIRST CITIZENS, BB&T DO WELL IN CUSTOMER SATISFACTION RANKINGS: Both were well above average in J.D. Power and Associates annual look at banks' customer satisfaction ratings in the Southeast. Both Bank of America and Wells Fargo came in below average.
PARK STERLING CLOSES PROVIDENT BANCSHARES DEAL: In the end, Park Sterling will pay $1.4 million in cash to the Rock Hill bank's shareholders.
WELLS FARGO CHAMPIONSHIP 'CLUB' PATRONS GET EXPANSIVE VIEW: The Green Mile Club is one of the golf tournament's premier new destinations this year, and all 300 tickets sold out. Think leather chairs, cocktails, lobster, and a great view of hole 16 and 17.
REGIONAL BANKS BUTTING IN TO BIG BANK CORPORATE LOANS: Banks like PNC and U.S. Bank are offering more business loans, and on more favorable terms, Reuters reports. Regulators could grow uneasy if they feel the banks are taking on too much risk.
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