M&A
M&A
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A breakdown of M&A announcements in the financial services industry for the week ended April 19.
April 21 -
The Portland, Ore., company aquired Sterling Financial last week. Though it created a $22 billion-asset regional player in the Pacific Northwest, CEO Ray Davis says the bank can keep its identify as a community bank.
April 21 -
Investors Bancorp (ISBC) in Short Hills, N.J., announced Monday that it is selling an undisclosed number of shares to the investment banks that managed its recent stock sale.
April 21 -
Washington Trust Bancorp (WASH) in Westerly, R.I., reported a rise in quarterly profit after it sold its merchant-processing business.
April 21 -
First Security in Owensboro, Ky., has raised $30 million through a private placement. The $500 million-asset company said it would use the funds for organic growth and "acquisitive opportunities."
April 18 -
Home BancShares in Conway, Ark., has agreed to buy Florida Traditions Bank in Dade City, Fla. The $6.8 billion-asset Home said it will pay $43 million stock for the $312 million-asset Florida Traditions.
April 18 - Maryland
RKJS Bank, an interim company formed by a group of local Baltimore investors, won First Mariner's bankruptcy auction Tuesday after National Penn Bancshares (NPBC) in Allentown, Pa., withdrew its offer.
April 17 -
Investors Bancorp (ISBC) in Short Hills, N.J. reported a surge in quarterly profit because of a stronger balance sheet.
April 17 -
Associated Banc-Corp (ASBC) in Green Bay, Wisc., reported a profit of $44 million in the first quarter, down 4.6% from the same period last year, as fee income fell and credit costs increased.
April 17 -
Board members and prospects are nervous about personable liability, given a rise in government lawsuits against former directors of failed banks. While banks typically carry insurance for directors, it is unclear how much protection those policies provide.
April 17 -
National Penn Bancshares (NPBC) in Allentown, Pa., swung to a profit in the first quarter thanks to commercial loan growth and one-time factors that offset lower mortgage banking revenue.
April 17 -
MasterCard has entered an agreement to buy Pinpoint Pty. Ltd., a Sydney, Australia-based provider of loyalty and rewards services in the Asia Pacific region.
April 17 -
Consumers can now use Lending Club to pay for schooling or elective medical procedures.
April 17 -
First Horizon National (FHN) used a gain from the sale of mortgage servicing rights to offset declines in revenue and fee income.
April 17 -
Hancock Holding (HBHC) in Gulfport, Miss., reported higher quarterly earnings after it aggressively cut costs.
April 16 -
The Chicago-area company has shown a willingness to pursue small branch deals and expand in nearby Wisconsin as it looks for liquidity and lending opportunities.
April 16 -
Huntington Bancshares (HBAN) in the first quarter padded its litigation reserves and recorded one-time expenses related to a recent acquisition.
April 16 -
Banks from New Jersey to California are going public with offerings ranging from $23 million to $223 million. The banks will use the proceeds to do everything from buy other institutions to retire debt. Following is a look.
April 16 - PSO content
Capital One Financial is terminating its accounts with check-cashing stores, the latest sign that some banks are becoming pickier about their customers in the face of stepped-up scrutiny by federal regulators.
April 16 - New York
Robert Wilmers, chairman and CEO of M&T Bank, told shareholders at its annual meeting that times are tough for banking and that the continued delay of its Hudson City deal, and associated high costs, are disappointing. But he insisted that the deal is still worth doing.
April 15




