Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
More than half of the deals announced so far this year have involved sellers from the Midwest. Expect activity in the region to rise as more banks mimic Huntington Bancshares and Chemical Financial by becoming acquirers.
The $13.8 billion-asset company said Monday after the market closed that it earned $21.2 million, down roughly 26% from a year earlier.
Ag lenders enjoyed solid credit metrics and an increase in farms loans in 2015. Those results could come under pressure this year, requiring bankers to become more vigilant in talking to their agricultural clients.
At least five regional banks on Thursday discarded concerns about the global economy, stocks, interest rates and credit quality, forecasting loan growth for the rest of this year.
KeyCorp believes it can surpass cost-cutting projections tied to its purchase of First Niagara Financial, while BB&T believes market duress could present it with more acquisition opportunities.
KeyCorp reported lower quarterly results that reflected higher expenses and lower fee income.
Acquirers are starting to look more closely at a sellers commitment to cybersecurity to avoid reputational and operational risk.
Chris Bauer, who navigated Anchor BanCorp through bankruptcy and an IPO, will stay with Old National in an unspecified role. Old National, meanwhile, has added Wisconsin to the list of states where it is looking for acquisitions.
Joseph Chillura, CEO of the $3.5 billion-asset USAmeriBank, runs a privately held company that should be an ideal candidate for industry consolidation. While trying to keep an open mind, Chillura seems intent on staying on the sidelines as other Florida banks strike deals.
Bank consolidation turned a corner last year as more large banks became comfortable returning to M&A. A panel of investment bankers believes that trend will continue in the coming year.