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A.E.A. Federal Credit Union in Yuma said it would acquire West Valley National Bank in a bid to expand into Phoenix and Las Vegas.
November 7 -
Many banks tapped the brakes on mergers and acquisitions this year amid economic and regulatory challenges. But executives at banks with a history of dealmaking say conditions could be right for them to return to buying mode next year.
November 6 -
The island state's biggest banks — which reported lower profits in the third quarter — say it is too soon to fully assess the economic fallout from the deadly August wildfires. The rebuilding effort could boost near-term deposit growth and long-term loan demand, they said.
November 1 -
Amid intense regulatory scrutiny, market volatility and economic uncertainty, 10 bank M&A deals have been scrubbed so far this year after 13 were scuttled last year. Deal activity has risen slightly lately, but the new normal is hard to gauge.
October 30 -
The Indiana bank said it agreed to acquire CapStar Financial in an all-stock deal that would hasten its growth in Tennessee.
October 26 -
The Federal Reserve Board and state regulators signed off on the $1 billion deal, paving the way for a late 2023 closing. The approvals were significant given that other large combinations have run into trouble.
October 23 -
"We'll be taking steps to offset expense pressures," CEO Curtis Farmer told analysts after the company reported an 11% year-over-year jump in costs and falling profits.
October 20 -
The Tennessee bank said a $72 million charge-off tied to a borrower in bankruptcy shaved 10 cents per share off its earnings. Management downplayed the issue, calling it "idiosyncratic," and emphasized that it was growing its loan portfolio.
October 18 -
The Pittsburgh-based regional bank expects to save $325 million next year as it reduces its staff by 4%. Executives said the cuts are necessary because revenue has fallen amid a surge in interest rates and a decline in loan volumes.
October 13 -
Central Valley Community Bancorp's agreement to buy Community West Bancshares, slated to close in the second quarter, would create a $3.6 billion-asset bank in the Greater Sacramento region.
October 11
