Cap Markets

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.

Even before Tim Sloan stepped down as chief executive of the scandal-stung Wells Fargo, the bank had already gotten back into the good graces of the biggest U.S. state.

The Illinois company will pay about $10 million, and redeem $23.5 million in trust-preferred stock, as part of the deal.