Corporate governance

The Missouri company announced the deal just five months after buying Seacoast Commerce in San Diego.

The merger would create a company with nearly 400 branches, 87 loan production offices and $87 billion of assets.

The proposed acquisition is the second deal in as two days to involve an Atlanta-based seller.

The Illinois companies agreed to merge in a transaction that is expected to close later this year.

Regulators recently eased field-of-membership rules to promote growth of federal credit unions. A handful of institutions are taking advantage of the changes to recruit more members, but some may find the process too cumbersome.

The Georgia company agreed to pay $84 million for a bank with nine branches and $715 million of assets.

The deal would be Independent's sixth since 2015 and would continue a wave of consolidation among Boston-area banks.

Under the leadership of former Chief Risk Officer John D'Angelo, the new environmental, social and governance office will oversee the bank's sustainability and corporate social responsibility functions.

The Maryland company is closer to addressing claims it lacked sufficient controls under its previous management.

Clarity on credit quality has bankers ready to strike deals after a lengthy pause. A steady rise in stock prices has also given potential buyers the financial wherewithal to pursue acquisitions.