Assets up, profits flat for Bham banks in 2014

Most Birmingham banks reported an uptick in assets last year, but profits remained flat, according to the latest data from the FDIC.

With lending picking up at many institutions, total assets for Birmingham banks rose by $12.4 billion in 2014 – a gain driven primarily by Birmingham’s biggest banks.

Regions Bank, Birmingham’s largest bank, finished the year totaling $118.6 billion in assets, up from $116.6 billion in 2013. BBVA Compass increased its assets from $71.7 billion in 2013 to $79.6 billion in 2014.

Oakworth Capital Bank saw the highest percentage increase in assets in 2014, increasing from $252 million in 2013 to $334 million last year – a 32.5 percent increase. Oakworth Capital Bank CEO Scott Reed said he attributes the growth to a healthier economy, among other factors.…Read Full Article…