Weekly Wrap: Q3 earnings bring floorplan declines, strong consumer originations

This week brought a closer look at third-quarter earnings at some of the largest banks, painting a picture of how supply constraints are shaping financial institutions’ performance. Both Bank of America and Truist, for example, logged declines in floorplan outstandings as dealers work with fewer cars on lots. 

However, while supply has led to shrinking commercial business for auto lenders, the consumer portfolio continues to perform well. U.S. Bank logged a 22.4% YoY increase in auto oustandings to $23.5 billion.