Jim Dobbs

The Pittsburgh-based parent of First National Bank of Pennsylvania plans to close its $117 million buyout of UB Bancorp in December.

Analysts are watching to see if more lenders join the ranks of First Northwest in Washington state and Orrstown Financial Services in Pennsylvania, which laid off staff or closed branches to offset rising wages and other expenses.

Financial institutions of all sizes — from JPMorgan Chase to SouthState to Fairwinds Credit Union — have reopened many branches, rolled out mobile banking units as well as reemployed pandemic-era digital and loan-forgiveness strategies in parts of Florida and South Carolina devastated by the powerful hurricane.

Taichung Commercial Bank said it would pay $82.1 million to buy American Continental Bancorp in suburban Los Angeles.

The company said a national search ended in its backyard with the hiring of Wisconsin veteran banker Tim Schneider, the former CEO and co-founder of Investors Community Bank.

Nearly nine out of 10 bankers surveyed by the Conference of State Bank Supervisors ranked the specter of rising deposit costs and narrowing margins as their top concern.

Investors are looking past the current boom in loan activity, fearing that inflation and other factors will cool demand and make it harder for borrowers to make payments.

The all-stock acquisition of Lakeland Bancorp, expected to close in the second quarter of 2023, would create a combined bank with more than $25 billion of assets.

BayFirst Financial Corp. said it initiated the process of shuttering its out-of-state network of residential mortgage loan production offices.

The buyer said it would pay $140 million in cash and stock to acquire Citizens Bancshares. It would gain about $1 billion of assets in and around Missouri's largest city.

So far this year, banks have reported that borrowers continue to repay their loans and delinquency rates remain low. But there are signs that this may change.

Stephens Inc. found only 19% of bankers expect deal volume to pick up over the next 12 months. It was the lowest percentage since the firm's surveys started in 2017.

More than 350 investors put money into Agility Bank, a de novo minority depository institution that opened in May. It raised nearly $41 million, well surpassing its $30 million goal.

The Pennsylvania banking company could use the proceeds from its initial public offering to pursue acquisitions.

Protego Trust Bank in Seattle, a bank in formation with plans to open this year, named financial technology veteran Ron Totaro its first chief executive.

The Minneapolis-based buyer had previously said the deal would close earlier in the second half. Some of the financial benefits, which had been expected to be realized next year, won't come to fruition until 2024, executives said Monday.

The average turnover rate has risen to 23% this year from about 16% in 2021, according to a Crowe Global survey of more than 400 banks. Raises and more generous benefits aren't enough to keep workers, the firm warns.

Veritex Holdings announced that its deal to buy interLINK has been terminated by the seller's parent, StoneCastle Partners in New York. No reason was given, though Veritex says regulatory pushback was not to blame.

Banks have shuttered their branches in droves, with Bank of America and Wells Fargo leading the pack over the past year. However, increased regulatory focus on banking services in lower-income areas makes downsizing more difficult now.

The acquisition of Central Financial, expected to close in the first quarter of 2023, would create a bank with more than $10 billion of assets.