M&A
M&A
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New Bancorp in New Buffalo, Mich., has hired Shawna Zawada as controller and principal financial officer, days after Russell Dahl resigned as chief financial officer.
August 25 -
The large custody bank was one of the first U.S. banking firms to embrace robotic process automation. Here's why a 232-year-old institution took a pioneering stance on a new technology.
August 25 -
Astoria Financial has set a December date for its annual meeting this yearsomething the bank never expected to do.
August 25 - Florida
Stonegate Bank in Pompano Beach, Fla., has agreed to buy Insignia Bank in Sarasota, Fla.
August 25 -
Lending Club hired a pair of Wall Street executives to strengthen relationships with investors after many pulled back from buying the loans it arranges online during a tumultuous second quarter.
August 24 -
Opus Bank in Irvine, Calif., has started a public finance division and hired an executive from Umpqua Bank in Oregon to run it.
August 24 -
Months after advocating for a blockbuster sale of Comerica, Hudson Executive Capital has slashed its stake in the company, as chatter about a potential deal has fizzled. Still, the firm is credited with pushing the struggling regional bank to adopt a surprisingly aggressive turnaround plan.
August 24 -
Union Bankshares in Richmond, Va., said Wednesday that John Asbury, formerly of First National Bank of Santa Fe in New Mexico, will be its next CEO.
August 24 - Delaware
The Bancorp in Wilmington, Del., has sold a loan portfolio as part of its effort to reduce the size of its discontinued commercial loan book.
August 24 -
Royal Bank of Canada beat analysts' estimates for the fiscal third quarter as its City National purchase in the U.S. bolstered wealth management and capital markets earnings surged. Canada's largest lender raised its dividend 2.5% to 83 cents a share.
August 24 - Ohio
First Defiance Financial in Defiance, Ohio, has agreed to pay $63 million for Commercial Bancshares, the $342 million-asset parent of Commercial Savings Bank.
August 24 - West Virginia
United Bankshares in West Virginia has quietly become a $14 billion-asset player in its region thanks to the M&A strategy of its highly respected leader, Richard Adams, who has a way of establishing a rapport with community bank chiefs. One recent seller is a repeat customer.
August 23 -
Southern First Bank in Greenville, S.C., and Five Star Bank in Warsaw, N.Y., are entering new markets.
August 23 - Georgia
The latest lending figures show just how prodigious banks' shift from construction to C&I loans has been since the crisis. Yet a hard look at C&I credits, especially their loss rates, raises questions about whether they are safer.
August 23 -
Artificial intelligence has gotten good enough to do some of the more mundane tasks people perform at banks every day. Whether the trend will kill certain job categories entirely or make a lot of dull work more interesting, or both, is an open debate.
August 23 -
The Windy City is littered with small, privately held banks, some of which are looking to sell. Here is an overview of the challenges and possible solutions faced by those banks and ones like them in clogged banking markets around the country.
August 22 - Tennessee
The holding company for Tennessee's FirstBank plans to hold an initial public offering, in order to make more than $65 million in distributions and debt repayments to its chairman.
August 22 - California
The Bancorp in Wilmington, Del., disclosed the identities of directors nominated to its board by two investor groups.
August 22 -
The first commercial mortgage-backed security to comply with "skin in the game" requirements was extremely well received. Market participants credit the way the large banks sponsoring the deal retained the risk a strategy unavailable to nonbank lenders.
August 19 -
Synovus Financial in Columbus, Ga., has agreed to buy Entaire Global Companies in Atlanta.
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