M&A

Sterling in N.Y. sheds nonperforming mortgage loans

09/23/20

The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on middle-market lending.

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People's United agrees to sell insurance unit

09/23/20

The Connecticut company will receive $120 million in cash from AssuredPartners for People's United Insurance Agency.

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Did Seacoast wait too long to strike a deal?

09/18/20

The San Diego bank first considered finding a buyer two years ago and had offers in early 2019. The price of the deal it finally reached in the throes of the pandemic was much lower than some earlier offers.

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Pandemic threatens to stifle bank M&A for another year

09/16/20

Deal activity, already on pace for its slowest year in more than two decades, will likely remain suppressed until bankers get a handle on credit exposure and more clarity on valuations.

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KeyCorp looking to accelerate pace of branch closings

09/14/20

Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations.

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UBS Chairman explores merger with Credit Suisse: Report

09/14/20

Axel Weber has discussed the idea with Switzerland's finance minister and an agreement could happen by early next year, according to the Swiss finance blog Inside Paradeplatz.

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Federal overhaul of M&A rules could favor small-bank deals

09/13/20

Justice Department officials have embarked on a rewrite of antitrust policy that could waive certain requirements for community bank mergers and provide fewer advantages to large, out-of-town buyers and banks in urban areas.

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Ohio mutual lines up deal for southern Virginia bank

09/11/20

First Mutual Holding has agreed to buy Martinsville First Savings Bank, which will retain its charter, brand and management team.

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Morgan Stanley pledges $15B help low-income communities

09/11/20

The four-year plan submitted as part of its acquisition of E-Trade includes grants to community development organizations and support for uniform vendor diversity standards.

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STCU to expand footprint with Umpqua branch deal

09/11/20

The Liberty Lake, Wash.-based credit union has agreed to buy four branches from the Roseburg, Ore.-based bank.

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