Spinning off its digital bank will allow Pennsylvania-based Customers to beef up its commercial lending and buy other banks. BankMobile, meanwhile, plans to pursue more white-label relationships and perhaps explore its own acquisitions.
Flush with capital from the sale of its stake in BlackRock, PNC is willing to go big on an acquisition but would be wary of buying a bank with a heavy concentration of consumer loans, CEO William Demchak said.
Banks and other lenders are said to have poured hundreds of billions of dollars into financing private-equity firms and their investment deals in recent years. Defaults have been low, but an economic slowdown could put these relationships to the test.