M&A
M&A
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Bank of America in Charlotte, N.C., is selling 23 branches in West Coast states. The bank also plans to sell a total of $1.2 billion in deposits and $821,000 in loans to TriCo Bancshares in Chico, Calif.; Bank of Commerce Holdings in Redding, Calif.; and Cascade Bancorp in Bend, Ore.
October 29 -
The speculation is over and a deal has been announced. How will the regulatory process play out? What will the branch network look like? These questions are more are worth asking as New York Community takes the next few months to shore up support for this $2 billion acquisition.
October 29 -
KeyCorp is in advanced talks to buy First Niagara Financial, according to a person familiar with the matter.
October 29 - Massachusetts
Spencer Savings Bank and Southbridge Savings Bank in Massachusetts have agreed to merge in a combination of mutual thrifts in the Worcester, Mass., area.
October 29 -
MB Financial in Chicago has agreed to buy an asset management firm.
October 29 -
Santander Consumer USA Holdings plans to exit personal lending and focus primarily on its auto-finance business.
October 29 - New York
New York Community Bancorp has agreed to buy Astoria Financial for about $2 billion in cash and stock, combining two of the largest New York-area banks to create an institution with about $64 billion in total assets.
October 29 -
Mercantile Bank in Grand Rapids, Mich., plans to close five branches to cut costs. The $2.9 billion-asset company said in a press release Wednesday that it plans to close the branches in the first quarter.
October 28 -
Eastern Bank's 18-month-old innovation unit, run by startup veterans, is preparing to release its first product as the industry continues to allocate resources to internal tech labs while wondering when and how such efforts will pay off.
October 28 -
Executives at small banks and credit unions told the Senate Banking Committee about horror stories of technical glitches, vendor delays and overworked appraisers, while expressing an interest in having more time to comply with new mortgage rules.
October 28 -
CenterState Banks in Davenport, Fla., has agreed to buy Hometown of Homestead Banking Co. in Homestead, Fla.
October 27 -
United Community Banks in Blairsville, Ga., reported higher quarterly earnings despite costs tied to its purchase of Palmetto Bancshares in South Carolina.
October 27 -
First Capital was on Jim Cherry short list of recapitalization targets before the ex-Wachovia executive raised more than $150 million to rebuild Park Sterling in Charlotte. Park Sterling eventually agreed to buy First Capital earlier this month.
October 27 -
A move by the National Labor Relations Board could force more legal liability on franchisors for actions taken by their franchisees. Some observers believe banks could become more reluctant lending to smaller franchisors until the issue has more clarity.
October 27 -
First Northern Community Bancorp in Dixon, Calif., has exited the Small Business Lending Fund.
October 27 -
A large investor in 1st Century Bancshares is upset that the Los Angeles company is looking to raise new capital.
October 27 -
Bank executives were pressed during third-quarter calls to share their views on whether to pursue acquisitions now that regulators have approved deals involving BB&T, Royal Bank of Canada and M&T Bank. Here's what many of them had to say.
October 27 -
Banks should be prepared for the potential that an investor with a growing stake does not have the institutions interests at heart.
October 27 - Minnesota
Alerus Financial in Grand Forks, N.D., has agreed to buy Alliance Benefit Group North Central States, a retirement plan administrator in Minnesota.
October 26 -
Wells Fargo plans to systematically poach Credit Suisse's private brokers in the U.S. and their clients and the Swiss bank is OK with that.
October 26



