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The roughly $2 million investment comes as banks keep joining (and in some cases, leaving) various distributed ledger projects as they try to pick the winners in a young field.

Cadence Bank post-merger

The Mississippi lender said regulators have signed off sooner than expected on its $103.6 million acquisition of First Chatham Bank. The bank's CEO and deal advisers said the speedy approval bodes well for future M&A.

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Columbus-based Northwest Bancshares finalized its acquisition of Penns Woods Bancorp; Barclays becomes the second U.K.-based bank to leave the Zero Banking Alliance; BankUnited announces the appointment of Michael Mitchell as executive vice president, director of branch banking; and more in this week's banking news roundup.

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Several large U.S. banks reported an uptick in overdraft-related income for the first three quarters of 2025. Economic pressure on consumers may be to blame, some banks and industry observers say.

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Employers added 50,000 jobs in December, with gains in service industries while broader sectors remained mostly flat, supporting the Fed's cautious stance on further rate cuts.