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.
CEOs at several regionals have decided to sit on the sidelines so they can digest recent big acquisitions, while others are contemplating going for more deals provided they find lower-risk opportunities.
The Cleveland company also had a record quarter for its investment banking business.
The Pittsburgh company was aided by high-single-digit organic loan growth in addition to an acquisition that was completed in February.
The bank is first to fail in New Jersey since 2012.
There is optimism that consolidation could bounce back from a lackluster 2016 as bank stocks rally. At the same time, expectations of regulatory easing and tax reform could entice more banks to stay independent, at least in the short term.
Columbia Banking System in Tacoma, Wash., landed the first sizeable deal of the New Year with an agreement to buy Pacific Continental in Eugene, Ore.
TFB Bancorp CEO Mary Lynn Lenz believes bankers and directors should hold frank discussions about selling, even if it means having difficult and emotional exchanges. She should know after selling four banks over the last decade.
Kenneth Mahon, the new CEO of Dime Community Bank, wants to reduce the 152-year-old institution's multifamily exposure by diversifying into other asset classes. But finding new business amid already fierce competition could be an immense challenge for Dime and other community banks in 2017.
Hope Bancorp in Los Angeles will close an additional nine branches next year as part of a second round of cost cutting.
Dime Community Bancshares in Brooklyn, N.Y., will record a one-time charge after approving changes to its employee stock ownership plan.