M&A
M&A
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Add Fitch Ratings to the growing chorus of banking industry voices expressing concern about the expiration of a bailout-era deposit protection program and its potential impact on small banks.
September 19 -
Lynn Harton has held key titles at South Financial, Regions Financial and BB&T. As South Financial's CEO, he helped orchestrate the South Carolina company's sale to TD Bank.
September 19 -
Wintrust Financial (WTFC) has agreed to buy HPK Financial, the parent of Hyde Park Bank and Trust.
September 19 -
Cullen/Frost Bankers will close four branches in the Rio Grande Valley this fall. The company gained the branches after it bought the parent company of the $401 million-asset Alamo Bank of Texas in 2006.
September 18 -
FirstMerit's deal for Citizens Republic in Michigan sent a message that acquisition prospects in Chicago are weaker than first thought — and deal forecasters back to the drawing board.
September 18 -
Bankers' banks are evolving into trusted advisors to small banks just a few years after a pair of high-profile failures pared their ranks and damaged the group's credibility.
September 18 -
D.A. Davidson, a Portland, Ore., investment bank has recruited two bank M&A advisors in Chicago, Stephen Nelson and Eugene Katz, from rival Hovde Financial.
September 18 -
Two former Sterling Financial (STSA) mortgage loan officers have sued the company on claims that they are owed unpaid overtime.
September 18 - PSO content
RevSpring, formed by the merger of DANTOM Systems, PSC Info Group and Data Image, has acquired BestBill, a Phoenix-based billing and payment technology provider.
September 18 -
Two former loan officers at Sterling Financial in Lancaster, Pa., have been sentenced to lengthy prison terms for their role in a multi-year fraud scheme that led to massive losses at Sterling.
September 17 -
Alliance Data Systems (ADS) has agreed to buy credit card accounts from Talbots and to take over the retailer's private-label credit card program.
September 17 -
A breakdown of M&A announcements in the financial services industry for the week ended September 15.
September 17 -
Creating New Hampshire Mutual Bancorp will mean one fewer thrift but allows management the chance to preserve a type of institution that is threatened with extinction.
September 17 -
BNC Bancorp in High Point, N.C., has completed its acquisition of KeySource Financial nearly 10 months after announcing the deal.
September 17 -
Three Ohio credit unions have completed a rare three-institution merger to form Pathways Financial Credit Union.
September 17 -
Flickers of life in the housing market are prompting homebuilders to seek revolving lines of credit from banks for the first time in several years. They are getting them, and money from the debt and equity markets, too.
September 17 -
Citigroup's $4.7 billion pretax writedown of its Morgan Stanley Smith Barney stake probably won't reduce a profit-sharing plan's award for CEO Vikram Pandit that could total $24 million.
September 17 - PSO content
Louisiana plans to standardize its collection policies across agencies and centralize other efforts, either through one agency or with a private company.
September 17 -
The Missouri Division of Finance closed the $282.3 million-asset Truman Bank in St. Louis on Friday. The Federal Deposit Insurance Corp. entered into an agreement with Simmons First National Bank in Pine Bluff, Ark., to buy the bank's assets and assume its $245.7 million in deposits.
September 14 -
Level One Bancorp in Farmington Hills, Mich., is applying its experience working on failed banks to buy and integrate one that is merely struggling. Patrick Fehring, the company's CEO, says that experience integrating failed banks has prepared Level One to buy the struggling Oxford Bank.
September 14




