M&A
M&A
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Envestnet's planned acquisition of Yodlee is shedding light on how real-time data about customers' financial data can shape the future of the wealth management and financial advisory business. Jud Bergman, CEO of Envestnet, says the deal will create "an unprecedented level of engagement."
August 19 - Ohio
Depositors at mutuals in Ohio and Massachusetts have approved measures making it more difficult for their institutions to convert to stock ownership. Still, many industry observers believe the mutual industry is poised for more consolidation.
August 19 -
Heartland Bancorp in Bloomington, Ill., has agreed to buy National Bancorp in Schaumburg, Ill., Crain's Chicago Business reported.
August 19 - Pennsylvania
BB&T in Winston-Salem, N.C., plans to close 25 branches as part of its integration of National Penn Bancshares in Allentown, Pa.
August 19 -
In this post-apocalyptic world of apps and bots, community banks lay in ruin, fintechs come and go, and megabanks dot the vast desert wasteland.
August 19 -
The $3.9 billion-asset Luther Burbank Savings has opened retail loan origination offices in several Southern California cities to produce more jumbo mortgages. It is one of several lenders in the region that think jumbo loans are worth the risks to achieve growth.
August 18 -
The Pennsylvania company chose to sell to a much larger bank rather than buy smaller rivals or manage assets to delay added regulatory burden. More banks could follow that example. The only thing missing is interest from regional suitors.
August 18 -
The North Carolina regional bank is placing a big bet that targeting Pennsylvania's high earners will offset the state's reputation for having slower-than-average growth.
August 18 -
Activist investor Joseph Stilwell is demanding that Carroll Bancorp in Sykesville, Md., pick up the pace on stock buybacks.
August 18 - New Jersey
The recapitalization will allow City National Bank to continue as a certified Community Development Financial Institution, the bank said.
August 18 -
Citigroup agreed to sell its Alternative Investor Services business to SS&C Technologies, a provider of software and investment services to the finance industry, for about $425 million.
August 18 - Pennsylvania
The North Carolina company had made it clear it would pursue more acquisitions after closing its purchase of the $19 billion-asset Susquehanna Bancshares earlier this year.
August 17 -
First National Bank of Pana in Illinois has agreed to buy The State Bank of Blue Mound in Illinois.
August 17 -
A breakdown of M&A announcements in the financial services industry for the week ended Aug. 15.
August 17 -
First State Associates in Hawarden, Iowa, has agreed to buy Miner County Bank in Howard, S.D. The banks expect the deal to close later this quarter or early in the fourth quarter.
August 17 -
Cross County Bank in Wynne, Ark., has agreed to buy three Arkansas branches from SouthBank in Huntsville, Ala.
August 17 -
The $120 million-asset mutual thrift filed its application with federal regulators this month. Citizens expects the formation to be completed by the first quarter, Chief Executive Tommy Johnson said in an interview.
August 17 -
Entegra Financial in Franklin, N.C., has agreed to buy two South Carolina branches from Arthur State Bank in Union, S.C.
August 17 -
The Wall Street titan, having borne the costs of being a regulated bank for a number of years, is now looking to reap some of the benefits that come with a banking license.
August 14 -
Regional banks are selling more and more of the machines that big retailers use to count, store and deposit cash. As old-school as it sounds, it's making the banks money at a time when they need alternative revenue sources.
August 14




