–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 44 TOM BROWN’S BANKING WEEKLY: 11/10/23 Financial Services Insights and Intelligence FIRST WORD: KeyCorp’s bad year will end favorably. This year KeyCorp will earn about half of what the consensus expectation for it was at the beginning of the year; the…

–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 43 TOM BROWN’S BANKING WEEKLY: 11/3/23 Financial Services Insights and Intelligence FIRST WORD: Webster Financial is a shining example of the value in bank stocks. In the third quarter, Webster Financial reported linked-quarter deposit growth of 2.7%, a net interest margin increase…

–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 42 TOM BROWN’S BANKING WEEKLY: 10/27/23 Financial Services Insights and Intelligence FIRST WORD: Thoughts about earnings and the generational opportunity in bank stocks. By my calculation, I am finishing up my 170th earnings reporting season. I can’t remember them all individually, although there are…

–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 41 TOM BROWN’S BANKING WEEKLY: 10/20/23 Financial Services Insights and Intelligence FIRST WORD: Focus on the forest of Bank of America’s earnings, not the one ugly tree. Bank of America reported very strong third quarter earnings on Tuesday. From a high level, revenues…

–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 40 TOM BROWN’S BANKING WEEKLY: 10/13/23 Financial Services Insights and Intelligence FIRST WORD: Thoughts from my meeting this week with Jamie Dimon. After every meeting I’ve had with JPMorgan Chase CEO Jamie Dimon, I’ve hurried to find some place to go over…

–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 39 TOM BROWN’S BANKING WEEKLY: 9/29/23 Financial Services Insights and Intelligence FIRST WORD: Applying Warren Buffett’s thought process to today’s banking environment. The banking industry has seen two meaningful acquisition announcements in the last month (Burke & Herbert/Summit and Eastern Bankshares/Cambridge). The deals…

–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 38 TOM BROWN’S BANKING WEEKLY: 9/22/23 Financial Services Insights and Intelligence FIRST WORD: PRA Group has stabilized. Steve Fredrickson and Kevin Stevenson started Portfolio Recovery Associates (now PRA Group) 27 years ago and built it into one of the two largest independent…

–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 37 TOM BROWN’S BANKING WEEKLY: 9/15/23 Financial Services Insights and Intelligence FIRST WORD: Gerald Ford and Carl Webb are preparing Mechanics Bank for its next act. When I think of the greatest bank stock investors of my lifetime, there is a group…

–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 36 TOM BROWN’S BANKING WEEKLY: 9/8/23 Financial Services Insights and Intelligence FIRST WORD: What I’ll be evaluating at Barclays’ conference next week. I have long felt that the most important investor conference of the year is the Barclays financial services conference, which…

–Copyrighted Material; Do Not Forward, Photocopy, or Redistribute In Any Way– Vol. VIII, No. 35 TOM BROWN’S BANKING WEEKLY: 9/1/23 Financial Services Insights and Intelligence FIRST WORD: The traits of well-managed community banks. Community banks are a large sub-category of commercial banks. Over the last 40 years, well-run community banks have provided much better returns…