
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 company will pay $53 million in cash and stock for Signature Bank.
The planned sale will also include $70 million of loans in southern California.
The disagreement is tied to Walnut Street, an entity formed in 2014 to move certain commercial loans out of the bank. Separately, the company is facing a civil money penalty from the FDIC tied to issues with a third-party payment processor.
CapStar Financial is suing an investor on claims he misled other shareholders and is trying to skirt bank holding company laws.
Kearny agreed to pay $408 million for Clifton Bancorp in a deal that will add 12 branches in northern New Jersey.
If Congress changes the $50 billion-asset threshold for systemically important financial institutions, big banks could take it as a signal that regulators would be amenable to larger deals.
The company, which agreed to buy Southwest Bancshares in Mobile, also plans to sell $45 million in stock to help fund the deal.
The mutual, which agreed to buy First Colebrook Bancorp, had recently opened a limited-service branch in Portsmouth, N.H.
For community bankers, the current environment is more challenging than ever, with high regulatory burden and tough competition. Four bank CEOs sat down to discuss the future of the industry, and what they are hoping may change.
Increased investor appetite and the emergence of specialized debt ratings are expected to spur demand, and community banks are looking for ways to fund expansion and hedge against future economic downturns.