Regional banks

U.S. Bancorp buying large custody book from MUFG Union Bank

01/06/21

U.S. Bancorp says its agreement to buy a portfolio with $320 billion of assets under management will raise its profile on the West Coast. The MUFG unit plans to reinvest proceeds from the sale in other priorities.

[more]

Diversification, M&A may lie ahead for New York Community under new chief

12/29/20

The switch to Thomas Cangemi from longtime CEO Joseph Ficalora could foreshadow a push to curtail the company’s reliance on multifamily lending and the pursuit of a bank acquisition that lowers funding costs.

[more]

Sudden change at the top of New York Community

12/28/20

Longtime chairman and CEO Joseph Ficalora will step aside Thursday as head of the regional bank and be succeeded by CFO Thomas Cangemi.

[more]

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.

[more]

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.

[more]

Huntington agrees to buy TCF Financial

12/14/20

The deal, announced late Sunday, would create a $168 billion banking company in the Midwest and be the latest in a string of regional bank combinations.

[more]

More banks keeping branches open during latest coronavirus surge

11/23/20

As COVID-19 infections break records nationwide, some banks are once again closing lobbies. But many others are maintaining the status quo after instituting a host of safety protocols that didn’t exist in the spring.

[more]

Banks, credit unions slip in customer satisfaction survey

11/18/20

The latest report from the American Customer Satisfaction Index reported lower scores for both industries, with credit unions recording their lowest ranking since 2011.

[more]

How First Citizens-CIT deal finally got done

11/18/20

CIT Group over a year's time brushed off several offers from First Citizens BancShares, entertained rival bids and kept negotiating on price and board representation before striking a deal, according to a new regulatory filing.

[more]

BBVA, CIT sales put midsize banks in M&A spotlight

11/17/20

Technology imperatives, weak loan demand and the need for increased efficiency could put pressure on dozens of regional banks to join forces with rivals.

[more]