APR 15, 2021
Besides helping Wells Fargo streamline in an effort to shuck its federally mandated asset cap, these channel shifts are in line with industry trends: US banks slashed their branch footprints by a combined 95,000 to just 83,000 from 2010 to 2019, a drop of 12%, FDIC data shows.
APR 19, 2021
The US bank, created by the combination of SunTrust and BB&T, has reported its Q1 2021 earnings, revealing that it enjoyed a net income of $1.6 billion, the same as in Q4 2020. Similar to other big banks, Truist dialed back on reserves for credit losses, reserving $48 million in Q1 compared with $177 million in Q4.