News Topic: M&A

Wells Fargo is opting to keep its private-label credit card unit after reaching out to potential buyers last year, according to a person with knowledge of the matter. ... Read full article

When its proposed sale to Suncoast Credit Union fell through, Apollo Bank decided to step up commercial lending and revamp its digital offerings in anticipation of an economic rebound in South Florida. ... Read full article

First Foundation is relocating its corporate headquarters to Dallas, where the tax burden is lighter and it sees more opportunity to beef up lending, add wealth management clients and pursue acquisitions of community banks. ... Read full article

The Los Angeles company agreed to buy $105 million of loans and a servicing portfolio that covers another $295 million in originations. ... Read full article

The California company acquired Civic Financial Services, which makes loans to residential real estate investors. ... Read full article

California Polytechnic State University is said to be seeking a new banking partner, a move which could leave the university-based credit union without a home. ... Read full article

MoneyLion, a mobile banking, lending and investment platform, is in talks to go public through a merger with Fusion Acquisition, a blank-check company, according to people with knowledge of the matter. ... Read full article

Stephen Steinour, the head of Huntington Bancshares, approached TCF Financial about a merger three days after the latter's CEO abruptly retired. An agreement was sealed in about six weeks. ... Read full article

After rising losses in 2020, First Credit Union of Scranton is seeking members' approval to merge into Penn East FCU. ... Read full article

The Detroit company, which recently agreed to be sold to Huntington Bancshares, gained $1 billion in loans and roughly 60 employees. ... Read full article

The Federal Reserve said its decision to accept input for several more weeks reflects the logistical challenges presented by the coronavirus pandemic. ... Read full article

Broadway Financial had hit a plateau and was in search of a successor to its longtime CEO Wayne-Kent Bradshaw. After the Los Angeles company rejected two buyout offers, Bradshaw reconnected with an old friend at CFBanc in Washington. ... Read full article

A deal to bring Coulee Dam FCU into the fold will expand the Spokane, Wash.-based credit union's branch network while providing a wider array of technologies to the former CDFCU members. ... Read full article

Barry Orr, who formed FirstBank & Trust of Texas in the 1990s, continued to run the bank after selling it to Heartland Financial USA in 2018. ... Read full article

Acquisitions of wealth management, insurance, fintech and other firms are expected to pick up as banks seek new sources of fee income and look to improve digital capabilities. ... Read full article

The company is exploring a range of options to diversify its balance sheet, but new CEO Thomas Cangemi says the best plan of attack is to merge with or acquire another institution. ... Read full article

Stock Yards Bancorp in Louisville says it would pay $190 million in cash and stock for Kentucky Bancshares. ... Read full article

The investment fund HoldCo Asset Management said the $900 million price tag of the agreement with SVB Financial Group “substantially undervalues” Boston Private Financial Holdings. ... Read full article