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.
The Michigan company, which lost more than $1.4 billion in the aftermath of the financial crisis, is trying to become more of a commercial lender. Its recent agreement to buy a deposit-rich franchise in California could help it get there.
While technology will let many banks cut staff and reduce the size of branches, factors such as geography, customer demographics and strategic direction will ultimately shape the look and feel of future offices.
Bank of McKenney rebranded itself as Touchstone Bank after its merger with CCB Bankshares.
Freeing a number of big banks from enhanced oversight, including capital requirements, could motivate CEOs to pursue deals. Still, other impediments could prevent a flood of large mergers.
Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable.
Pat Hickman, CEO of Happy State Bank, wants his institution to remain viable in the face of stifling regulation. As for selling? That'll happen over his dead body, he says.
The company has agreed to buy CBBC Bancorp. It also raised $63 million to pay for the deal and fund future growth.
The companies' recently launched partnership furthers the argument that the banking and fintech industries might be better served working together rather than competing.
Capital Corps, led by Steven Sugarman, aims to provide financing to homeowners and small businesses that it believes are overlooked by banks. The firm features several former Banc of California executives.
The company, which recently bought Sabadell United in Miami, is pledging to make billions of dollars in mortgages and small business loans in low- and moderate-income communities.