Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable.
The new owner of this Miami bank might be from Chile, but it sure knew how to create warm feelings with the employees it acquired. Instead of cutting back on benefits, it added some new ones — including a cash bonus paid for life events like having a child.
The CEO of Keefe, Bruyette & Woods, a top matchmaker for bank mergers, explains why large banks will soon return to dealmaking after a long absence, the case for starting new banks and the enduring value of branches.
Even as units of a larger holding company, local banks fight the perception that they can’t provide sophisticated services like corporate or private banking. Executives say that unifying the brand will help Synovus better compete against larger players.
The New York bank will double in size while gaining greater access to Long Island and low-cost deposits that should come in handy as interest rates rise.
Iberiabank is making the biggest deal in its history in Miami, an area known for boom-bust cycles and a condo market that stung banks during the crisis.
