M&A

FDIC report suggests M&A has been positive for many small banks

12/16/20

The agency’s second in-depth study of the community banking sector pointed to continued challenges for local institutions from the pandemic and other headwinds, but many smaller banks are reaping the benefits of M&A and holding their own against larger competitors in key lending categories.

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Accounting firm settles FDIC claims tied to Chicago bank's failure

12/16/20

Bansley & Kiener, without admitting wrongdoing, agreed to pay $2.5 million to address allegations that lax oversight contributed to the 2017 collapse of Washington Federal Bank for Savings.

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Fiserv to buy Ondot as card payments get more digital

12/16/20

It isn't lost on Fiserv that consumers increasingly are moving to digital financial services. Its deal to acquire Ondot Systems, a digital card solutions platform, aims to capitalize on the shift.

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PSB to expand in southeastern Wisconsin with Sunset Bank deal

12/16/20

The company agreed will pay nearly $10 million for Sunset parent Waukesha Bankshares.

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Pandemic’s projected hit to bank revenues: $3.7 trillion

12/15/20

A new report from McKinsey says that cost-cutting alone won’t make up for the steep revenue declines brought on by low interest rates and sluggish loan demand. “For some banks,” argues the report’s author, “mergers might be the best way out.”

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Merger bolsters Telhio’s presence in Columbus

12/15/20

Columbus Metro Federal Credit Union members will have access to more products, including commercial loan services, and 14 branches with the merger.

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Apollo Group in $2.3 billion deal for ATM maker Cardtronics

12/15/20

Cardtronics has benefited from a wave of branch closings during the pandemic by partnering with lenders looking to offer their customers access to cash even when a full-scale branch isn’t available.

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Ameriprise, CI eyeing Wells Fargo's asset management arm

12/14/20

Wells Fargo, reeling from years of scandals, is unloading several businesses as it seeks to simplify its structure. The sale of the asset management unit could fetch more than $3 billion, according to industry sources.

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U.S. lost 5% of bank branches between 2017 and 2020

12/14/20

The accelerating pace of branch closures is partly due to industry consolidation, according to the community reinvestment group that authored the new report.

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Huntington bets economic rebound, cost savings will justify TCF deal

12/14/20

The Columbus, Ohio, company says it has delivered on M&A promises before, and many observers say its deal for rival TCF Financial is an opportunistic move in its bid to build a Midwestern powerhouse. But others questioned whether Huntington's cost-cutting and profit expectations are too optimistic.

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