A big splash by Fifth Third, a bid by WSFS to reinvent itself and some bold long-distance expansions highlighted a year where deal activity held steady but premiums rose.
The combination of CCF Holding, Heritage Bancorp. and Providence Bank will create a $1 billion-asset institution. Veteran bank investor Kenneth Lehman will be its chairman.
More banks were approved this year than any since the financial crisis. But challenges with raising capital, and a change in the political landscape, could deter prospective applicants next year.
Selling $1.6 billion in mortgages, and paying off a similar amount of wholesale borrowings, will allow the company to expand its net interest margin in 2019.
The federal banking regulators have proposed allowing more directors and management officials to serve at more than one institution in an effort to provide relief to community banks.
Detractors are suddenly hopeful that the controversial accounting standard could be delayed or altered after FSOC's longer-than-expected closed session on the issue.
