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.

Policymakers signaled more reductions lie ahead, a development that could curb lenders' net interest income in the near term but support economic growth and credit quality.

EverBank Financial in Florida said the deal would give it $900 million of loans and $2 billion of deposits. Should the deal close in early 2025 as planned, it would end a long saga for Sterling.

Anticipated interest rate cuts could help stressed borrowers, but such a shift in monetary policy may curb lending income.

The Maine-based bank's bid for Northway Financial was valued at $86.6 million. It is expected to be finalized in the first quarter of 2025.

The all-stock transaction is slated to close in the second quarter of 2025. It would create a bank with more than $15 billion of assets.

The bank faced credit setbacks in the nation's capital and margin pressure this year. But it made a series of hires to reduce risk and diversify its loan portfolio, preparing for a new era of demand as the industry awaits interest rate cuts.

The deal to buy the First of Long Island Corp. would create a $14 billion-asset bank with $11 billion of both loans and deposits.

REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.

Lenders across the country selected new executives late in the summer, as did Virginia's community bank advocacy group.

Bridgewater Bancshares agreed to acquire First Minnetonka Bancorp. in an all-cash transaction slated to close in the fourth quarter. It would create a nearly $5 billion-asset bank.