M&A
M&A
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The Treasury said Thursday that it should gross about $23.8 million from auctioning stakes in seven participants in the Troubled Asset Relief Program. The expected proceeds would represent a 9% discount from the nearly $26 million that the government originally invested in those banks.
December 13 -
MetLife, the global life insurer, said Wednesday that the Office of the Comptroller of the Currency has conditionally approved the company's deal to sell $6.5 billion in deposits from MetLife Bank to GE Capital Retail Bank (GE), GE's consumer-lending arm.
December 13 -
Synovus Financial in Columbus, Ga., has sold roughly $530 million of problem assets and expects to take a pretax charge of $155 million tied to the move.
December 13 - PSO content
Debt buyer Midland Funding will pay Minnesota $500,000 to settle a lawsuit filed by the state that charged the firm with robo-signing affidavits in collection lawsuits.
December 13 -
BB&T (BBT) has created a new south Texas region and named a longtime employee as its president.
December 12 -
The good cop-bad cop routine works in bank M&A, says Prosperity CEO David Zalman, who misses his "good guy" Dan Rollins, who left for BancorpSouth.
December 12 -
Prosperity Bancshares in Houston sees Oklahoma as a nearby, familiar market with ample growth room and pledges more acquisitions after its $194 million deal for Coppermark Bancshares in Oklahoma City.
December 11 -
Astoria Financial (AF) could be a likely takeover target because of its recent emphasis on multifamily lending and a stock that is trading at a discount.
December 11 -
Amerasia Bank in New York has agreed to buy a troubled community bank in Florida. The $291 million-asset bank will acquire Great Eastern Bank of Florida, says Jimmy Tsai, Amerasia's chief operating officer.
December 11 -
The Treasury Department is scheduled on Tuesday to auction warrants to purchase 1.2 million shares of common stock in M&T Bank.
December 11 -
Prosperity Bancshares (PB) in Houston has agreed to buy Coppermark Bancshares in Oklahoma City, Okla., for $193.9 million in cash and stock.
December 10 -
The $5.8 billion-asset holding company of Chemical Bank in Midland, Mich., said Monday it has completed its $8.1 million purchase of 21 branches from Independent Bank (IBCP) in Ionia, Mich.
December 10 -
The $1.75 billion-asset company disclosed late last week that its purchase agreements with ValStone Partners, a private-equity firm in Michigan, had been terminated. Calls to Capitol (CBCRQ) and ValStone were not immediately returned.
December 10 -
Business development companies have stepped into a void left by other lenders, more are going public, and they could boost the leveraged-loan market.
December 10 -
A breakdown of M&A announcements in the financial services industry for the week ended December 8.
December 10 -
Ameris Bancorp (ABCB) in Moultrie, Ga., has announced a streamlining plan that includes closing or selling about 20% of its branches.
December 10 -
A Chicago pension fund wants the banks to pay for losses on mortgage-backed securities because of their trustee roles, but the banks argue any blame lies with others.
December 10 -
Alliance Bank in Syracuse, N.Y., has warned that almost 100 jobs would be eliminated after its merger with NBT Bank next year.
December 10 -
FirstAtlantic Bank in Jacksonville, Fla., has acquired a branch from Prosperity Bank in St. Augustine, Fla.
December 10 -
Two troubled banks were sold through bankruptcy auctions this month, and another is expected next week. The much-discussed recapitalization method has only recently gained traction.
December 7





