Cap Markets

Atlantic Bay Mortgage Group has agreed to buy a majority stake in Virginia Community Bank in a rare instance of a nondepository mortgage company buying a bank, rather than the reverse.

The company agreed to buy MainSource Financial in Indiana for $1 billion, creating a Midwestern bank that will have more than 200 branches and $13 billion in assets.

The New Jersey bank is looking to raise offensive capital just months after its deal to be sold to Investors Bancorp was terminated. Investors was tripped up by regulatory concerns tied to Bank Secrecy Act and anti-money-laundering compliance.

TCF executives were peppered with questions about the quality of $345 million in auto loans recategorized as held for investment in the second quarter, as a result of the company’s recent move away from loan sales and securitizations.

Delmar will buy Liberty Bell Bank in New Jersey, which had survived a debilitating six-year battle for control with a former CEO. Liberty Bell also suffered from corporate theft and a check-kiting scandal.

Now that the Federal Reserve has raised short-term rates four times in the past 18 months, all eyes are on deposit costs as banks seek to keep pricing low and fatten margins. But that effort is complicated by the fact that banks must prepare for the unwinding of the Fed's balance sheet and consumers' rapid adoption of mobile deposits.

The $482 million deal would be Associated's first bank acquisition since June 2007.

The company will add two branches between Denver and Colorado Springs by buying the deposit-rich Castle Rock Bank.

First Home Bank raised nearly 20% more than it sought from investors, providing proof that Florida — especially the Tampa Bay area — is a hotbed of activity.

On March 31, 2017. Dollars in thousands