Jim Dobbs

The Honolulu-based bank's board continues to recommend selling to Hope Bancorp in Los Angeles, despite a competing offer that includes a higher price tag.

River Run Bancorp near Boston said it would acquire Rollstone Bank and Trust, adding to a string of industry combinations as M&A activity gathers momentum in the second half of 2024.

The $3.4 billion-asset organization based in Phoenix said it would acquire 1st Bank Yuma in the record-setting 17th deal of 2024 involving a credit union buying a bank.

Multiple lenders recruited and promoted from within to fill leadership posts. Orrstown Financial Services disclosed the retirement of its planned CEO successor.

The Chicago-based bank said it would acquire First Security Bancorp in Elmwood Park. The transaction would push it close to $10 billion of assets.

An American Bankers Association panel of forecasters predicted slower growth, but it said the U.S. economy would likely avoid a recession, sparing lenders deep credit quality woes.

Dealmakers say the Federal Reserve's decision to reduce interest rates this month will lower borrowing costs and support banks' credit quality, making it easier for buyers to assess sellers' balance sheets and agree on sale terms.

Mifflinburg Bancorp and Northumberland Bancorp would combine to create a $1.3 billion-asset bank in the Susquehanna Valley market.

ESL Federal Credit Union's plan to acquire Generations Bancorp marks the 16th deal this year in which a credit union plans to acquire a bank. While controversial, such transactions are swelling in number.

The Honolulu-based seller said it rejected a competing bid from an investor group and would stick with its plan to sell to Hope Bancorp for $78.6 million in stock.