Cap Markets

The New Jersey company added a representative of Blue Harbour Group in Connecticut to its board.

First Bank, based in New Jersey, will pay about $27 million for Bucks County Bank in a deal that is expected to close in the third quarter.

James Lockhart, former director of the FHFA, is replacing Wilbur Ross, who resigned when he became Commerce secretary, on the New Jersey company's board.

The Federal Reserve sent nearly $91.5 billion to the U.S. Treasury, according to the central bank’s annual independent audit released Friday.

Bankers, directors and other large investors are unloading millions of shares as bank stocks stay close to all-time highs.

Citizens will pay about $40 million in cash and stock for the $269 million-asset Wells in a deal set to close in the third quarter.

The Fed said it will conduct extensive reviews only of deals that create banks with assets of $100 billion, replacing the prior mark of $25 billion. The disclosure was included in the Fed's approval of People's United's purchase of Suffolk Bancorp.

Industry critics argue the Invitation Homes deal will create new risks for Fannie Mae and remove affordable inventory from homebuyers.

The cuts punctuate the end to a rapid expansion period at the company, which now seems to be prioritizing profitability over growth.