Jim Dobbs

Robert Fehlman, who has worked with the bank since 1988, will succeed George Makris Jr. at the start of 2023.

Dicier credit conditions, recession fears and tougher regulatory scrutiny combined to weaken merger activity in 2022. A push for scale is bound to resume when interest rates level off — at least among smaller banks, analysts say.

The banks advertised the transaction as a merger of equals, but Shore shareholders would own 60% of the company.

The acquisition of Malvern Bancorp in Pennsylvania would provide added heft in suburban Philadelphia markets. It is easily First Bank's largest-ever M&A deal.

The institution's Impressia Bank will be dedicated to the professional and financial advancement of women business owners and entrepreneurs.

The West Virginia-based Summit would gain 10 branches in Maryland and Delaware through its $54 million agreement to buy PSB Holding Corp.

William Demchak, the Pittsburgh bank's CEO, is leery of acquiring banks amid elevated regulatory scrutiny. KeyCorp Chief Executive Chris Gorman has similar concerns, citing economic uncertainty in addition to the long waits for approval.

The bank looked within its own ranks to find its next chief credit officer and to fill the newly created chief banking officer position. It continues a search for its next finance chief following a spate of departures.

Byline Bancorp in Chicago said it would buy Inland Bancorp in a cash-and-stock transaction that would create an $8.5 billion-asset bank.

"The way we are living is not sustainable; we have to change," said Dominic Ng, who shared the major issues he plans to address with the Asia-Pacific Economic Cooperation's Business Advisory Council in 2023.