Cap Markets

Entegra Financial, which had a deal to be sold to SmartFinancial, has instead agreed to be sold to First Citizens, which offered more money and will pay a breakup fee for the initial deal.

An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.

Wells Fargo is once again flirting with something that no major U.S. bank has done in a decade: have a dividend yield north of 4%. Don't expect a celebration.

MiCommunity Bancorp, which will be Michigan's first new bank since the financial crisis, raised $30 million in initial capital.

The company could use its share of proceeds from the IPO to repay debt and pursue bank acquisitions.

Organizers of the Bank of St. George have filed an application with the FDIC and state regulators and plan a public stock offering.

The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.

B. Riley FBR initiated equity coverage of the mortgage giant, citing housing finance reform proposals that could result in Fannie and Freddie Mac being released from conservatorship.

The Montana company agreed to buy Heritage Bancorp for $241 million.

The first quarter proved sluggish for overall merger activity. Here are notable deals announced in March.