Sterling Bancorp in Montebello, N.Y., realized a big efficiency gain after a major acquisition.

The Rhode Island company had barely opened the doors of its Fairfield County mortgage office when management started getting pushed about making a bigger splash. For now, CEO Joseph MarcAurele seems content to keep one toe in the water.

A breakdown of M&A announcements in the financial services industry for the week ended Oct. 25.

The $44 billion-asset specialty lender viewed its pending purchase of OneWest Bank as its way to get significantly over the $50 billion threshold for systemically important financial institutions. But CIT CEO John Thain is all for a proposal that would raise the SIFI bar higher.

FirstMerit in Akron, Ohio, reported higher quarterly profit that met Wall Street expectations despite margin pressure.

South State Corp. in Columbia, S.C., struggled to increase earnings but held expenses in check after a major acquisition.

Cheviot Financial in Cincinnati has agreed to add a director recommended by activist investor Seidman Group.

First Guaranty Bancshares in Hammond, La., has filed for a $75 million initial public offering.

Iberiabank is excited to add equipment finance and an SBA lending platform when it buys Old Florida Bancshares. The deal also gives the Louisiana company its first branches in Orlando.

Profits rose at Bridge Bancorp in Bridgehampton, N.Y., on strong loan growth. The $2.2 billion-asset reported net income of $4.9 million in the third quarter, up 56% from a year earlier.

Triumph Bancorp in Dallas is looking to raise $123 million through an initial public offering.

Hudson Valley Holding Corp. (HVB), a New York City-area lender with about $3.2 billion in assets, is exploring a sale, people with knowledge of the matter said.

Iberiabank in Lafayette, La., has agreed to acquire Old Florida Bancshares in Orlando.

The company's $800 million goodwill impairment charge may reflect macroeconomic factors, but also likely resulted from a purchase of HSBC branches two years ago. Other banks are unlikely to face the exact same issues, observers said.

PlainsCapital Bank in Dallas said on Friday that it plans to close 11 branches in the Rio Grande Valley.

A Minnesota community bank has made an offer to buy American Bank of St. Paul in what would be the first time a bank was forced into a sale over unpaid trust-preferred debt.

First Waterloo Bancshares in Waterloo, Ill., has agreed to buy Prairie Financial Bancorp in Stewardson, Ill.

Sierra Bancorp in Porterville, Calif., has tapped an insider to succeed its retiring chief executive.

CVB Financial in Ontario, Calif., reported a slight uptick in third-quarter earnings after loans and expenses increased from its acquisition of American Security Bank.

State Bank Financial in Atlanta more than doubled quarterly earnings on gains from acquisitions and noninterest income.