Between Q3 2025 and Q4 2025, FSB reduced FTE headcounts from 13,221 to 12,824 (379 FTE reduced). However, Salaries and Benefits expense went up from 1.74 billion dollars to 2.32 billion dollars. This does not include bonuses since bonuses are paid out in Q1 2026. Has Bank really spent so much on severances or has Bank hired highly compensated employees while cutting MSRs?
You can look up the numbers by going to FFIEC call report.
@dz you’ve seemed to forget the layoffs in late 2024. It still begs the same question under similar scenarios in both 2024 and 2025. However, we’ll never know as we don’t have an access to the ledger.
@OP Since you like research, try comparing 2024 to 2025.....
Dollar Amont in thousands
2024 Q4 2,406,000 2025 Q4 2,322,000 Diff -84,000
2024 Q3 1,776,000 2025 Q3 1,743,000 Diff -33,000
Diff 630,000 579,000 -51,000
(Apologies if this table doesn't survive the posting)
2023 was before the consolidation, you can go do your own math, but you're probably barking up the wrong tree.
Have you given any thought to the holiday bonus paid in the 4th quarter? Also, how many pay periods in Q3 vs Q4. Finally, a true-up adjustment gets booked at the end of the year once the final bonus amount/percentage is known (an estimate is booked during the year.)
@ay especially if you’re employee based out of Colorado, Texas, California, New York. For some reason our cases keep disappearing and those employees keep buying new cars and homes. 🤷🏻♂️
@aj arbiters continue to find USAAs arbitration agreement unenforceable.
@ac don’t forget the lawsuits and arbitration settlements we keep losing for violating employment laws and rights. People ALWAYS get an employment attorney. Let them take the 30-40% for contingency, and sue this company. It’s the easiest $600k of your life
It’s almost like our bank is laundering money in plain sight and regulators keep calling us out for it.
Are you really that naive? Where do you think it’s going? Executive signing bonuses, payouts, and bloated salaries. That’s where it’s going.
Maybe there were many force retired FTEs that essentially drained salary expenses.
But as a bank that used to have 15k employees in 2023, cut has been relentless.