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.
Prosperity Bancshares is hopeful it will be able to announce its next bank deal in the near future. Such chatter provides hope that Texas banks are moving past oil concerns and renewing merger talks.
Consumer compliance was already an important issue for regulators who vet bank deals, but it is expected to move up on their priority list after Wells' phony-account saga. Banks that seek M&A approvals should make sure their cross-sale and incentives policies along with those of their targets are bulletproof.
The Bancorp's stock fell nearly 15% Friday after the Wilmington, Del., company reported a large quarterly loss tied to a bad commercial real estate loan.
Iberiabanks stock fell in morning trading after the Lafayette, La., company posted third-quarter profits that missed expectations.
The regulatory environment could be looking brighter for New York Community Bancorp as it is poised to cross an important regulatory threshold.
New York Community Bancorp in Westbury, N.Y., reported higher third-quarter earnings after a debt repositioning last year helped its net interest income.
Executives pointed to cost reductions, revenue opportunities and improving returns as early indications of success. Management also touted Key's quick response to a integration snafu that "impacted a very small percentage" of First Niagara clients.
KeyCorp in Cleveland posted lower profit after merger-related costs cut into its bottom line.
The acquisition of Middleburg Financial would create a nearly $2.5 billion-asset bank in northern Virginia with strong mortgage originations and a growing wealth management business. It would provide an endgame for Middleburg while also making Access more appealing to potential buyers.
James Cope entered into an agreement with the U.S. Attorney for the Middle District of Tennessee to plead guilty to one count of insider trading; he will serve a two-year probationary sentence.