The former New Jersey mutual is stepping up efforts to court bigger commercial clients. The move will help Investors diversify its loan book and deploy capital while it is barred from buying banks.
Federal regulators are early in the process of deciding whether to broaden credit unions' access to capital markets, but banking lobbyists have seen enough to argue that it would let credit unions skirt business-lending limits.
Bank First has agreed to pay $76 million in cash and stock for Waupaca Bancorp. The company should have nearly $1.8 billion in assets when it completes the deal.
Brent Beardall, who recently took the helm at Washington Federal, discusses having excess capital, myriad potential fintech partners and why he would tweak — not repeal — Dodd-Frank.
Stonegate Bank in Florida figured its balance sheet was too small and undiversified to stay independent. But it was choosy in approaching potential buyers and aggressively scrutinized the lead bidder’s loan book.
The post-election rally in banking stocks has given certain buyers the ability to make acquisitions that would add to tangible book value, perhaps making it easier for them to pursue more deals.