Professional Bank and Marquis Bank, both of Coral Gables, have been competing against each other for more than a decade. Now they are merging in hopes of landing larger clients and making better use of technology being developed in Professional's innovation lab.
Peapack-Gladstone in New Jersey has more than doubled its assets under management in the last six years, taking advantage of buyouts of its smaller rivals as it aims to become less dependent on net interest income.
Seed, a San Francisco startup, has developed a platform that lets small businesses quickly open accounts online. That's an important feature for Cross River as it courts more fintech clients.
Its CEO says organic growth is preferable, but after spending five years tackling a series of enforcement actions tied to BSA compliance, the Pennsylvania bank has options.
The deals lets a North Carolina group skip the de novo process. West Town, which sold the bank, will use the funds to support a fast-growing business line.
Stephen Steinour said it was pure conjecture that Huntington was a possible suitor for the Dallas bank if it decides to put itself up for sale at some point. He emphasized Huntington's core-growth strategy and upbeat economic signs from consumers and businesses.
Sure, M&A is a good option, but so are branch deals or key hires, say two veteran bankers who shared some of their successful strategies at American Banker’s Retail Banking Growth Stories conference.
