The regulator said the investment bank and financial services company will help in the process of strengthening Fannie Mae and Freddie Mac’s capital standing for their eventual exit from conservatorship.
Kenneth Lehman, a former banking attorney who acquires large stakes in small banks, will buy BankFlorida, which lost $555,000 through the first nine months of 2019.
The new regulation aims to standardize the process for determining if those owning less than a quarter of a bank must comply with holding company requirements.
CenterState and South State are the latest regionals to announce a deal driven heavily by the need to compete with larger banks that can afford to spend more on cutting-edge technologies.
Two major banking organizations objected to a proposal by the agency that would expand the pool of investors in subordinated debt issued by credit unions. They fear it could provide credit unions more financing to buy banks.
