M&A
M&A
-
Customers Bancorp in Wyomissing, Pa., struck its second deal in two months with an agreement to buy CMS Bancorp in White Plains, N.Y. Customers, led by Jay Sidhu, would expand its presence in Westchester County.
August 10 -
Julius Baer Group Ltd. (BAER), the Swiss money manager established in 1890, is nearing an agreement to acquire Bank of America Corp. (BAC)'s Merrill Lynch wealth management businesses outside the U.S., according to two people with knowledge of the matter.
August 10 -
Stories about buyout groups dissolving and heavy-handed regulation make private equity sound like the dog that never barked in banking. But such firms have notched hundreds of deals since the crisis, and the rollup machines they've created are poised to keep going.
August 9 -
The agency used a cross-guaranty liability agreement to receive 85% of the proceeds from a Kansas Bank's sale to Arvest Bank in Arkansas. The deal is notable to companies with multiple banks, particularly those that are undercapitalized.
August 9 -
Capital Bank in Raleigh, N.C., reported a 14% rise in second-quarter earningsm while TIB Financial in Naples, Fla., said its second-quarter profit nearly doubled.
August 9 -
The Columbia, S.C., company is used to gaining branches and other assets in past deals. Buying Savannah Bancorp adds an investment advisory firm and mortgage capabilities at a time when banks are looking everywhere for ways to boost fees.
August 9 -
State regulators approved the mergers of five more troubled credit unions yesterday, including two by Credit Union of Southern California, the $600 million Brea credit union's third merger of the past few months.
August 9 -
First Citizens BancShares (FCNCA) in Raleigh, N.C., posted strong second-quarter results because of higher net interest income and a lower loan-loss provision.
August 9 -
The possible sale of ING's Canadian bank may spark a bidding contest among the world's soundest banks including Toronto-Dominion Bank and Bank of Nova Scotia.
August 9 -
Susquehanna Bancshares (SUSQ) in Lititz, Pa., plans to raise up to $150 million through a senior notes public offering.
August 9 -
Morrill & Janes Bank and Trust in Merriam has agreed to buy United Bank of Kansas in Lenexa. United will be merged with Morrill and operate as a branch, Morrill said in a press release.
August 8 -
Itaú Unibanco Holding in São Paulo, Brazil, has denied that it is in negotiations to buy Citizens Financial Group, the U.S. arm of the Royal Bank of Scotland (RBS).
August 8 -
Banks have been putting less of their own money to work in syndicated leveraged loans lately. But other investors, particularly CLOs, have shown an increased appetite for these credits.
August 8 -
Robert Hill, SCBT's president and CEO, announces his second open-bank deal in nine months as it looks to consolidate in South Carolina and Georgia. SCBT has also bought three failed banks since January 2010.
August 8 -
Cardtronics USA has acquired the assets of independent sales organization ATM Network, including its merchant contracts, customer relationships, online store and Web properties.
August 8 - PSO content
A Chicago suburb is reviewing whether to approve a contract with a new collection agency that would allow the village to keep more of what's collected.
August 8 -
Prime Pacific Financial Services in Lynwood, Wash., will raise $5 million through a private placement of common stock as it works to meet capital requirements from a regulatory order.
August 7 -
The Federal Reserve Board has issued an enforcement order against Gold Canyon Bank that gives the Gold Canyon, Ariz., company 90 days to become adequately capitalized or to sell itself.
August 7 -
After two financial institutions merge on paper, the hard work starts in the IT trenches. Mark Duthu, executive vice president for Hancock Holding's trust and asset management group, discusses the complex integration of Whitney Bank.
August 7 -
Provident New York Bancorp (PBNY) in Montebello has raised roughly $46 million to help fuel its expansion in the New York City area.
August 7




