De novo activity has remained at a trickle and the reason is investing in a new bank just isn't attractive as it used to be.

The $350 million-asset Pacific Commerce said in a press release Thursday that it will pay $10.50 a share in cash and stock for the $211 million-asset ProAmerica.

The $3.4 billion-asset holding company for Five Star Bank received a letter on Wednesday from Clover Partners' managing director, Johnny Guerry, saying management has made the wrong decision on two recent deals. Clover owns about 5.2% of Financial Institutions.

TriState Capital Holdings in Pittsburgh has agreed to buy asset management firm Killen Group in Berwyn, Pa., for between $30 million to $35 million in cash, based on conditions tied to the asset manager's cash flow.

KeyCorp will keep and expand First Niagara Financial Group's Buffalo, N.Y.-based mortgage operations to spur along its return to being a player in residential lending.

Digital Asset Holdings is reportedly seeking a $35 million funding round that would put the blockchain technology startup’s valuation at $100 million.

TowneBank in Suffolk, Va., has agreed to buy Monarch Financial Holdings in Chesapeake, Va., for $220.6 million in stock.

Hanmi Financial in Los Angeles has withdrawn its proposal to merge with BBCN Bancorp. Hanmi said in a press release Thursday that its decision follows BBCN's agreement to buy Wilshire Bancorp.

First Bancorp in Southern Pines, N.C., has agreed to buy Bankingpoint, an insurance agency in Sanford, N.C.

Under the direction of Richard Holbrook, Eastern Bank has prepared itself for the next 200 years by embracing a culture innovation, adding scale through acquisitions and advocating for the less fortunate in its community. It's an unusual formula, but it has worked and that's why he is one of American Banker's three Community Bankers of the Year for 2015.

HomeStreet in Seattle has bought a branch in Dayton, Wash., from Banner Corp. in Walla Walla, Wash.

Global Payments and Heartland Payment Systems have a chance to create an international powerhouse focused on small to medium sized business, restaurant and education payments, if they can meld their technology post-acquisition and retain Heartland's management.

Customers Bancorp in Wyomissing, Pa., has agreed to buy the disbursements business of Higher One Holdings in New Haven, Conn.

An interbank loan market that was created for small and regional banks has begun operations, recording $15 million in transactions on its first day.

A breakdown of M&A announcements in the financial services industry for the week ended December 12.

Dave Seleski founded Stonegate in 2005 and the decade since has built it into one of Florida's best-performing banks through a combination of prudent lending and opportunistic buying. Now he's got his sights set on Cuba and playing a key role in bringing that country's economy into the 21st century.

Eastern Bank in Boston has agreed to buy a health care insurance brokerage firm from Northwestern Mutual Life Insurance in Milwaukee.

Frandsen Financial in Arden Hills, Minn., has agreed to buy Provincial Corp. in Lakeville, Minn.

Associates of Glen Falls Insurance said that it bought Loomis & LaPann, an insurance unit of Arrow Financial that focuses on amateur sports, for an undisclosed price.

Under Jill Castilla, the once-sleepy Citizens has been transformed into a thoroughly modern institution that has become a model for other small banks trying to stay relevant in an increasingly competitive financial services marketplace. For that reason and more, she is one of American Banker's three community bankers of the year.