
Paul Davis
Founder, Bank SlatePaul Davis is the founder of Bank Slate, a financial strategy and research firm. He previously led community bank coverage at American Banker.
Paul Davis is the founder of Bank Slate, a financial strategy and research firm. He previously led community bank coverage at American Banker.
The Indiana company will pay $68 million for Citizens First.
The company disclosed that it paid $146 million for servicing rights associated with $13 billion in mortgages.
The Illinois company will pay $46 million for a bank that is a fraction of its size.
Bridgeview Bancorp floated its name with 14 potential buyers, but it only attracted serious interest once it promised to divest a mortgage business that recorded a double-digit decline in fee income last year.
The company has agreed to buy Preferred Bancshares in a deal set to close by mid-2019.
Rheo Brouillard, the head of SI Financial, finally had a solid offer in hand after more than two years of searching for a buyer. But the resignation 10 days later of the man who made him that offer — Berkshire Hills’ Michael Daly — sent Brouillard scrambling.
Why now? Will it work? How will their rivals respond? The megadeal between the two East Coast regionals offers up plenty of grist for speculation.
The industry's largest acquisition in more than a decade will create the sixth-biggest bank in the country, with assets of more than $442 billion.
John Asbury says his Virginia bank, soon to be renamed Atlantic Union Bank, could eventually stretch from Charlotte, N.C., to Baltimore and take on the big players that dominate those markets.
The company will gain four branches in Athens, Ga., with the $52 million acquisition.