Latest news with #CommercialBanking
Globe and Mail
17-07-2025
- Business
- Globe and Mail
Wells Fargo Reports Strong Q2 2025 Earnings
Wells Fargo & Company ( (WFC)) has released its Q2 earnings. Here is a breakdown of the information Wells Fargo & Company presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Wells Fargo & Company is a prominent financial services firm offering a wide range of banking, investment, and mortgage products and services across various segments, including Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. The company is recognized as one of America's largest corporations. In its second quarter of 2025, Wells Fargo reported a net income of $5.5 billion, or $1.60 per diluted share, reflecting a significant increase from the previous year. The company's total revenue reached $20.8 billion, with both net interest income and noninterest income showing growth. The results underscore the company's efforts to enhance financial performance, driven by increased fee-based income and strategic investments. Key financial metrics highlighted in the report include a 12% increase in net income compared to the same quarter last year, with a return on equity (ROE) of 12.8% and a return on tangible common equity (ROTCE) of 15.2%. The company also repurchased $3.0 billion in common stock and announced plans to increase its third-quarter dividend by 12.5%. Additionally, Wells Fargo completed the acquisition of the remaining interest in its merchant services joint venture, contributing to its revenue growth. The company's CEO, Charlie Scharf, emphasized the progress made in achieving stronger financial results and highlighted the lifting of the asset cap as a pivotal milestone in Wells Fargo's transformation. Looking forward, the company is poised to capitalize on growth opportunities, supported by its strong credit performance and consistent activity levels. Wells Fargo's management remains optimistic about the future, focusing on organic growth and returning excess capital to shareholders. Despite potential risks, the company is well-positioned to continue serving consumers, businesses, and communities, contributing to U.S. economic growth.
Globe and Mail
10-06-2025
- Business
- Globe and Mail
Lake City Bank Welcomes Back Gregory C. Brown to Lead Newly Formed Commercial Elkhart Region
WARSAW, Ind., June 10, 2025 (GLOBE NEWSWIRE) -- Lake City Bank is pleased to welcome back Gregory C. Brown as Senior Vice President, Commercial Elkhart Regional Manager. Brown will lead the newly formed Commercial Elkhart Region, serving commercial clients in Elkhart and surrounding communities. The new region was strategically created to better serve the growing business community in Elkhart. 'Since arriving in Elkhart in 1990, Lake City Bank has remained consistently dedicated to the entrepreneurial businesses that define the community. The decision to create a team solely dedicated to Elkhart is reflective of the success we've had in Elkhart over the last 35 years and of our continued growth in the market,' said David M. Findlay, Chairman and Chief Executive Officer. 'Greg's deep knowledge of the Elkhart market, combined with his leadership experience and commitment to relationship banking, make him the ideal person to lead this new region.' Brown will lead a team of three Commercial Banking Officers based in Elkhart, while Todd A. Bruce, Senior Vice President, will continue to lead the Commercial North Region team. The Commercial North Region will focus on serving commercial clients in St. Joseph County and the surrounding Northwest Indiana and Southwest Michigan communities. 'Greg's return is a win for Lake City Bank and for our clients,' said Eric H. Ottinger, Executive Vice President and Chief Commercial Banking Officer. 'He understands the unique dynamics of the Elkhart community and has a proven track record of building strong client relationships. We're confident he will continue our strong growth momentum in Elkhart. We're also excited for the new opportunities that our regional realignment will allow Todd's team to pursue in South Bend and the surrounding area.' Brown has 30 years of experience in financial services, including his previous tenure with Lake City Bank as a Commercial Banking Officer from 2016-2021. He has volunteered with many organizations in Elkhart, including serving as a previous board chair of Big Brothers Big Sisters of Elkhart County, board treasurer of the Greater Elkhart Chamber of Commerce, and board treasurer of Elcona Country Club. 'I'm excited to be back at Lake City Bank and to lead the new Commercial Elkhart Region,' said Brown. 'Elkhart has been my home since moving here in 2003. It's a vibrant and resilient community, and I look forward to working with our experienced team to help local businesses grow and thrive.' Lake City Bank, a $6.9 billion bank headquartered in Warsaw, Indiana, was founded in 1872 and serves Central and Northern Indiana communities with 54 branch offices and a robust digital banking platform. Lake City Bank's community banking model prioritizes building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients. The bank is the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN). For more information visit Contact Luke Weick Vice President Marketing Manager (574) 267-9198 x47279 office (260) 431-7061 mobile
Associated Press
03-06-2025
- Business
- Associated Press
Bruce A. Watterson Joins Peapack Private Bank & Trust
BEDMINSTER, NJ - June 3, 2025 ( NEWMEDIAWIRE ) - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private Bank & Trust announce that Bruce A. Watterson has joined the Bank as a Senior Managing Director, Managing Group Director, with the Bank's Commercial Banking division. He will be based out of the Bank's newest location in Garden City, New York. Bruce joins Peapack Private from Flagstar Bank, formerly Signature Bank, where he has worked since 2001 as a senior vice president and managing group director. At Flagstar, Bruce was responsible for providing middle market businesses and high net worth clients in the NY Metro with solutions for all their financial needs. Prior to Flagstar, Bruce was with CitiGroup Private Bank where he was a vice president and managing director. He has over 40 years of corporate, private, and middle market banking experience, having held similar positions at National Westminster Bank, Marine Midland Bank and Mellon Financial Services. A graduate from Pace University's Lubin School of Business in Pleasantville, NY, where he majored in Finance and Accounting, Bruce is a Certified Cash Manager (CCM) and also maintains Series 6, 7 and 63/64 NASD licenses, in addition to a NYS Life and Health and Annuity License. He is heavily involved in the Long Island community and is active on numerous committees and boards. His affiliations include: The Energeia Partnership, The Education and Assistance Corp (EAC), The Challenger Business Advisory Counsel, The Nassau County Bar's We Care Community Leaders, Rock and Wrap It Up and The Financial Executive's Institute. About the Company Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.1 billion and assets under management and/or administration of $11.8 billion as of March 31, 2025. Founded in 1921, Peapack Private Bank & Trust is a commercial bank that offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and personal banking solutions. The Bank's wealth management division offers comprehensive financial, tax, fiduciary and investment advice and solutions to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them to establish, maintain and expand their legacy. Peapack Private Bank & Trust offers an unparalleled commitment to client service. Visit for more information. Contact: Denise Pace-Sanders, Peapack Private Bank & Trust, SVP Managing Principal, Brand and Marketing Director, 500 Hills Drive, Suite 300, Bedminster, NJ 07921, [email protected], (908) 470-3322 View the original release on
Yahoo
31-05-2025
- Business
- Yahoo
Wells Fargo Signs a Deal to Sell its $4.4 Billion Rail Asset Portfolio
The $4.4 billion rail equipment leasing division of Wells Fargo & Company (NYSE:WFC) will be sold to a joint venture between Brookfield Infrastructure and GATX Corporation. A team of bankers in suits, discussing the success of the company's banking products. The agreement covers the whole rail operating lease portfolio, which consists of about 105,000 railcars, as well as the rail finance leasing portfolio, which consists of 440 locomotives and 23,000 railcars. According to Wells Fargo & Company (NYSE:WFC), the deal fits with its plan to streamline operations and will not have a significant effect on its financials. Brookfield Infrastructure will own 70% of the business, with the possibility that GATX Corporation may eventually acquire the entire company. GATX Corporation will oversee operations and initially hold a 30% stake in the business. It's anticipated that the deal will close by Q1 2026. David Marks, executive vice president, Wells Fargo & Company (NYSE:WFC) Commercial Banking, commented: "This transaction is consistent with Wells Fargo's ongoing strategy of simplifying our businesses and focusing on products and services that are core to our clients," GATX Corporation acquires operational control, strengthening Brookfield Infrastructure's capital depth and its freight transport infrastructure network. While we acknowledge the potential of WFC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WFC and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
27-05-2025
- Business
- Associated Press
Nancy Foran-Pinzon Joins Peapack Private Bank & Trust
BEDMINSTER, NJ - May 27, 2025 ( NEWMEDIAWIRE ) - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private Bank & Trust announce that Nancy Foran-Pinzon has joined the Bank as a Senior Managing Director and Group Director with its Commercial Banking division. Nancy joins a team of bankers now responsible for helping grow Peapack Private into Long Island and the Tri-State Area. She is based out of the Bank's Melville, New York location. A former vice president and group director with Flagstar Bank, Nancy helped establish the first Suffolk County PCG Group and Financial Center for then Signature Bank, growing the group's book of business to a peak of $306 million in balances, and commitments to $230 million, and outstandings of $120 million. Prior to Flagstar/Signature, at Fleet Bank, she was a vice president, portfolio manager for the contractor team, working with several relationship managers, maintaining the quality of the book of business, gathering financial information and assisting in the underwriting process. Nancy held additional roles at Fleet Bank as she developed her career over the years. Nancy is a graduate of Babson College, graduating in three years, with a Bachelor of Science degree in Finance. About the Company Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.1 billion and assets under management and/or administration of $11.8 billion as of March 31, 2025. Founded in 1921, Peapack Private Bank & Trust is a commercial bank that offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and personal banking solutions. The Bank's wealth management division offers comprehensive financial, tax, fiduciary and investment advice and solutions to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them to establish, maintain and expand their legacy. Peapack Private Bank & Trust offers an unparalleled commitment to client service. Visit for more information. Contact: Denise Pace-Sanders, Peapack Private Bank & Trust, SVP Managing Principal, Brand and Marketing Director, 500 Hills Drive, Suite 300, Bedminster, NJ 07921, [email protected], (908) 470-3322 View the original release on
