Cap Markets

Jefferson Financial Credit Union in Louisiana struck a deal to bring in $12 million in secondary capital, which is believed to be the biggest haul to date for a credit union. Will it embolden other CUs to pursue similar fundraising efforts?

Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic development projects in communities and Native American reservations in California, Nevada and Arizona.

Jefferson Financial in Louisiana struck a deal to bring in $12 million in secondary capital, which is believed to be the biggest haul to date for a credit union. It could also embolden other credit unions to pursue similar fundraising efforts.

The company, which counts veteran banker Jay Sidhu among its investors, is selling to Ameris for $145 million in cash and stock.

The company has agreed to pay $49 million for First West Virginia Bancorp, the parent of Progressive Bank.

Deutsche Bank and Commerzbank have held talks before, and now they have a common shareholder — the U.S. PE firm Cerberus — in a position to broker a deal.

The company, which had launched an at-the-market offering in late May, plans to use the proceeds for organic growth.

Banks would be big winners if Congress slashes corporate tax rates and they will have no shortage of options for deploying all that extra cash.

The private-equity firm Cerberus Capital Management has taken a 3% stake in Deutsche Bank four months after buying a 5% stake in another German lender, Commerzbank.

Louisiana-based credit union says its request is one of the largest ever approved by NCUA.