This week's editors' picks include a feature on Citizens Bank of Edmond's creative way to reach customers; an article on JPMorgan's profit outlook; and the conversion profile of Columbia Financial Inc.
Using festivals, coworking spaces to reach customers without branches
Many U.S. banks continue to cut branches but Citizens Bank of Edmond has replaced offices with creative strategies, launching a street festival and coworking space for customers.
Midsize banks excited for prospects of Dodd-Frank reform by August
Midsize banks are being encouraged by the brightening prospect of regulatory relief as Rep. Patrick McHenry, R-N.C., said the Senate should be able to whip as many as 80 votes for a bill that seeks to reform the Dodd-Frank Act.
JPMorgan Chase lifts profit outlook, touts digital advances
JPMorgan Chase & Co. CFO Marianne Lake said over time, savings following the U.S. tax cuts will positively benefit the company's earnings. Lake, who took an expanded role at the company's annual investor day in New York, is speculated to be in line to become the first female CEO of the company.
FDIC-insured banks see 40.9% YOY decrease in net income due to tax law
The Federal Deposit Insurance Corp. said that excluding the tax effects, net income still would have ticked down due to higher noninterest expense and loan-loss provisions.
Conversion profile — Columbia Financial Inc. (MHC)
Columbia Financial Inc. (MHC) is priced at an as-reported price to fully converted tangible book of 80.5% at the supermax of the offering range.
