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Megabanks continue to increase their share of personal trust and fiduciary assets, leaving most small banks on the margins of the business. But community banks could stage a comeback by focusing on quality service and the slightly less-rich.
October 31 -
Thanks to the rise of online and mobile banking, some banks now have significant customer bases in areas where they have little branch presence. The solution is to carve out a category of virtual banks that have tailored CRA responsibilities and examination standards.
November 3 -
The Federal Deposit Insurance Corp. on Friday released its list of enforcement actions from September, including a consent order that played a role in derailing two planned acquisitions.
October 31
Columbia Banking System in Tacoma, Wash., and First Business Financial Services in Madison, Wis., were among a sizable group of banking companies that completed acquisitions in recent days.
Columbia bought Intermountain Community Bancorp in Idaho to grow to $8.5 billion in assets, while First Business bought Aslin Group in Leawood, Kan., to reach $1.6 billion in assets. Also, Valley National in Wayne, N.J., completed its acquisition of 1st United Bancorp in Boca Raton, Fla.
Other banks that completed deals included Eagle Bancorp in Bethesda, Md., which bought Virginia Heritage Bank in Tysons Corner; CB Financial Services in Carmichaels, Pa., which acquired FedFirst Financial in Monessen, Pa.; and Pacific National Bank in Miami, which sold itself to four private investors.
