Will Congress do anything about credit unions buying banks?
The community bank lobby has said the recent deals are another reason to rein in the credit union sector. Some House members are beginning to take notice. ... Read full article
News Topic: M&A
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Investar ending 2020 with deal for Alabama bank
The Louisiana company sold $30 million in stock to help fund its purchase of Cheaha Financial Group. ... Read full article
HomeTrust in N.C. sells $160 million in mortgages
The company plans to sell more mortgages in the first quarter, which would bring its loan-to-deposit ratio below 100%. ... Read full article
Evans Bancorp turns to acquisition to enter a new market
The New York company will enter Rochester as part of its $35 million purchase of FSB Bancorp. ... Read full article
Cambridge Financial in Mass. to buy neighboring cooperative bank
The company will pay about $58 million in cash for Melrose Bancorp. ... Read full article
California merger terminated over delayed regulatory approval
The FDIC was reluctant to sign off on the merger of Summit Bancshares and Faciam Holdings because the company planned to serve marijuana-related businesses. ... Read full article
Kearny expanding in northern New Jersey with MSB purchase
The company will pay $94 million for a bank with operations in New Jersey's Somerset and Morris counties. ... Read full article
Pinnacle hires Synovus exec to open first office in Atlanta
The Tennessee company said that Rob Garcia will be in charge of building a commercial banking team in the city. ... Read full article
First Bancshares to enter southern Georgia with acquisition
The Mississippi company will also top $4 billion in assets when it buys Southwest Georgia Financial. ... Read full article
Citizens & Northern in Pennsylvania lines up another acquisition
The company, which recently bought Monument Bank, has agreed to acquire Covenant Financial. ... Read full article
CNB expanding western New York operations with Bank of Akron deal
The Pennsylvania company will pay $65 million for six branches that will join its Buffalo, N.Y., division. ... Read full article
Smaller buyers expected to drive bank M&A in 2020
A dearth of bigger acquirers will likely force more banks with less than $2 billion in assets to seek out their own deals. ... Read full article
Fix CRA before cracking down on bank mergers
Sen. Elizabeth Warren’s proposal to subject bank deals to greater public scrutiny should instead be addressed through reforms to the Community Reinvestment Act. ... Read full article
Six living wills have ‘shortcomings’; PE firms buy stake in Amex unit
Regulators said the living wills of six banks — not Goldman or JPM — need tweaking; the investment values the global business travel unit at $5 billion. ... Read full article
Texas community bank lines up first acquisition
Wichita Falls Bancshares will gain four branches when it buys Chico Bancorp. ... Read full article
Bangor Bancorp to buy Damariscotta Bankshares in merger of Maine mutuals
Bangor will pay $35 million in cash to gain branches in five communities. ... Read full article
BNY Mellon tech plans, Gen Z's rise, CRA cheat sheet: Top stories of the week
BNY Mellon said it plans to accelerate tech spending; a Wells Fargo exec warned banks against ignoring Gen Z customers; the CRA reform proposal was finally released; and more from this week's most-read stories. ... Read full article
Capital City in Florida to buy majority stake in mortgage lender
The company will significantly boost its origination volume after buying 51% of BrandMortgage. ... Read full article
What Truist pressure? Regionals insist they're in no rush to merge
BB&T and SunTrust showed that big-bank mergers are still possible, but top executives at other large regional banks say that a knee-jerk response would be a mistake. ... Read full article
Popular in Puerto Rico urged by activist investor to sell
Raging Capital Management also urged the company's board to repurchase stock and think about selling a minority stake in the payments processor Evertec. ... Read full article