The bank's technology team was trying to figure out how to develop a system similar to the respected software program of Brown Brothers Harriman's investor-services unit. Now that State Street is buying that same unit, it can drop the project.

The Rhode Island bank has entered into an agreement to acquire JMP Group, which focuses on the health care, technology, financial services and real estate sectors.

State Street agreed to buy Brown Brothers Harriman’s investor-services business for $3.5 billion in cash, adding an operation that safeguards about $5.4 trillion of assets.

If Biden appointees are going to apply more antitrust scrutiny to bank mergers, they need to factor into their analysis the competitive threat that banks face from fintechs and other less-regulated players.

With its sale to Blue Ridge Bankshares set to close within months, FVC Bankcorp is moving to diversify by taking a 29% stake in Atlantic Coast Mortgage.

If the Justice Department and other agencies are serious about overhauling the bank merger process, they need to start by establishing whether consolidation helps or hurts consumers.

Bank Leumi Le-Israel BM’s U.S. banking arm has drawn interest from potential buyers including Valley National Bancorp, according to people familiar with the matter. 

LOC Federal Credit Union and MemberFocus Community Credit Union aim to utilize the flexibility of the latter’s state charter to enlarge membership.

Shareholders in the troubled Mexican nonbank lender Credito Real will vote on proposals to sell the company’s U.S. operations at a meeting on Sept. 10.

The move is part of CEO Jes Staley’s broader strategy to beef up the British bank’s U.S. consumer business and strengthen relationships with retailers who may eventually need investment banking services.

The sale to the Florida-based insurer Brown & Brown would give Berkshire Hills Bancorp an infusion of capital that it intends to invest in more profitable businesses, executives said.

The price for the 20% stake in Santander Consumer USA Holdings that Santander does not already own is significantly higher than what the buyer first offered in July.

Seacoast Banking Corp. of Florida, which has bought 10 banks over the past decade, has agreed to acquire community banks in Sarasota and Melbourne.

Scott Credit Union of Edwardsville said it is acquiring Tempo Bank in Trenton, Illinois. It is the fifth such transaction announced since Aug. 5 and the 10th of the year.

Critics of consolidation say the Federal Reserve and other agencies are too quick to greenlight bank deals. But the truth is banks face many hurdles to merger approval, and they don’t bother to apply — or take a hint and withdraw their applications — if they can’t clear them all.

It would be the second bank acquisition for Fairwinds, which bought Friends Bank in Florida in 2019.

Goldman Sachs Group agreed to buy the asset-management arm of the Dutch insurer NN Group NV as the bank grabs a toehold in the fast-growing sustainable-investing industry and boosts its European ties.

Credijusto, the first fintech in Mexico to buy a bank, plans to cater to a market that traditional banks often overlook: smaller businesses engaged in commerce between the two countries.

Minnwest Bank, which focuses largely on agriculture lending, said it will “become more sophisticated" with its mortgage and consumer lending services by acquiring Roundbank.

M&T in New York, which is seeking regulatory approval to buy People’s United Financial, recently disclosed plans for around 1,000 layoffs. The backlash — focused on job cuts in the seller’s hometown of Bridgeport — has been stronger than in other recent deals.