M&A
M&A
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A fifth of the financial institutions that participated in the Small Business Lending Fund have fully left the program and an increasing number of banks are joining them before the dividend rate jumps to 9% next year.
July 22 -
HomeTrust Bancshares in Asheville, N.C., will close six branches in North Carolina and Tennessee.
July 22 - New York
New York Community Bancorp in Westbury reported a modest increase in quarterly profit that included asset sales.
July 22 -
HSBC is promoting Gregory Pierce to head of global banking and markets for North and South America. He starts Sept. 1 and will be based in New York.
July 21 -
Regulators gave conditional approval for CIT Group's deal to buy OneWest Bank, paving the way for an institution that would be deemed systemically important, with $70 billion in combined assets.
July 21 -
A spike in core deposits increased funding costs and contributed to margin compression at Synovus in the second quarter. But the company could benefit from locking in liquidity now, particularly when interest rates rise.
July 21 -
Fifth Third Bancorp in Cincinnati reported a decline in second-quarter profit, as the costs to close branches offset loan growth.
July 21 -
Zions Bancorp. in Salt Lake City reported a second-quarter loss after selling the remainder of its portfolio of collateralized debt obligations.
July 20 -
A breakdown of M&A announcements in the financial services industry for the week ended July 18.
July 20 -
American Riviera Bank in Santa Barbara, Calif., has agreed to buy Bank of Santa Barbara.
July 20 -
Wells Financial in Minnesota has completed its purchase of St. James Federal Savings & Loan Association, in a deal closely watched by members of the mutual bank community.
July 20 -
PeoplesSouth Bank in Colquitt, Ga., has agreed to buy Cadence Bancorp's Florida Panhandle branch network.
July 20 -
The New Jersey company's entrée into New York City had been expected for years. A week after opening an office on Madison Avenue, ConnectOne is eager to court small businesses and identify possible people to hire.
July 20 -
Morgan Stanley reported profit that beat analysts' estimates as a jump in trading and brokerage fees led to the biggest revenue increase among the six largest U.S. banks. The shares climbed in early trading.
July 20 - California
Preferred Bank in Los Angeles has agreed to buy United International Bank in Flushing, N.Y.
July 20 -
M&T, PNC, SunTrust and other regionals reported strong fee growth thanks to inroads they have made in investment banking, wealth management and other areas. It couldn't have come at a better time for them.
July 17 - Florida
Sunshine Bancorp in Plant City, Fla., has agreed to buy two branches from First Federal Bank of Florida.
July 17 -
The Minneapolis investment bank, for the most, didn't serve financial institutions. It hopes to change that with a number of key hires and the purchase of a Chicago boutique firm.
July 17 -
The Dallas company recorded a higher provision as nearly $330 million in energy credits were classified as "criticized" during the second quarter. The size of Comerica's energy portfolio also shrank by 8% during the quarter.
July 17 -
A new proposal by the FDIC could further discourage the use of noncore deposits, including those facilitated by deposit brokers and listing services and even certain reciprocal instruments not subject to the brokered-fund penalty.
July 17




