Toronto-Dominion Bank, Canada's second-largest lender by assets, agreed to buy Nordstrom's Visa and private-label credit-card portfolio in the U.S. as it expands purchases in North American consumer credit.

The best-performing banks are those that continue to invest in growth, rather than those that fixate on containing expenses, writes Capital Performance Group's Kevin Halsey.

The Salt Lake City company was a prolific acquirer through the 1990s but has been quiet on the M&A front for several years. It's likely to stay that way in the near term, Chairman and CEO Harris Simmons said.

Investor communications company Broadridge Financial Solutions has entered into an agreement with Thomson Reuters Lipper to acquire its Fiduciary Services and Competitive Intelligence unit.

Several Puerto Rican banks are dealing with a sour participation to a major utility on the island. The creditor — like the Puerto Rican government — is barred from filing for bankruptcy, complicating matters for its lenders.

Promontory said Wednesday that it acquired FS Advisory from Date, who founded the consulting practice along with Fenway Summer in 2013 after leaving the Consumer Financial Protection Bureau as deputy director.

Harvard Illinois Bancorp, which has struggled with persistent activist pressure and exposure to a fraud scheme, is preparing to wind down its operations.

Fidelity Southern in Atlanta has agreed to buy the Florida branch network of First Banks Inc. of Clayton, Mo.

The Korean-American bank is looking to diversify its balance sheet and revenue streams before it hits $10 billion in assets. The commercially focused lender hopes such efforts will help it once more regulation kicks in.

Shareholders of JPMorgan Chase voted in favor of Jamie Dimon keeping the chairman and chief executive roles. They likely fear Dimon would retire if stripped of one of the jobs.

More banks are steadily raising and reinstating cash dividends. Bankers say the increases reflect improving confidence with the economy, though some investors contend that higher payouts signal challenges deploying capital.

Isabella Bank in Mt. Pleasant, Mich., has agreed to buy a branch from Independent Bank in Grand Rapids, Mich.

First Capital Holdings in New York has shed three businesses.

The fraud detection services provider Feedzai has raised $17.5 million in its Series B financing round.

A breakdown of M&A announcements in the financial services industry for the week ended May 16.

Dime Community and Flushing Financial are selling real estate in the borough, taking advantage of rising real estate prices. The banks are using process to reinvest in branches and technology.

Friendly Hills Bank in Whittier, Calif., has started offering payroll services to its clients.

First Foundation in Irvine, Calif., has launched a division to offer property and casualty insurance brokerage services.

Seacoast Banking Corp. of Florida in Stuart has acquired First Growth Capital, a firm that handles receivables funding.

Hamilton State Bancshares in Hoschton, Ga., has agreed to acquire the $130 million-asset Highland Financial Services in Marietta, Ga.