About 90 percent of our revenue comes from online advertising.
Despite rising rates and competitive products elsewhere, such as money market funds, Wells Fargo posted strong deposit growth.
We currently have over 500,000 unique monthly users across our sites and the number just keeps growing.
The yield-curve flattening has certainly been challenging for banks. The winners and losers will be decided on how well they can generate revenues faster than expenses are growing.
I give them high marks for positioning themselves for a challenging rate environment, and reducing their securities portfolio well in advance of other banks.
The institutional business is very competitive. If you don't have meaningful scale, it's hard to compete.
In some markets we're seeing reasonably strong deposit growth and pretty much across the board, commercial and industrial, middle-market business loans are fairly robust. It's a sign the economy remains fairly strong.
The bankruptcy issue is a one-time situation. Commercial and industrial loan growth was fairly strong and should be the key driver of earnings growth this year for the regional banks.
There are areas of weakness. It seems growth is difficult for banks, which I would attribute to a flat yield curve and higher funding costs.
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