M&A
M&A
-
Dodd-Frank spurred many mutual banks to convert to stock ownership. Now these well-capitalized, strategically located institutions are approaching the end of the three-year probationary period before they can be sold.
July 18 -
These banks have money to spend, strong stocks and a stated goal of expansion through M&A. Look for them to buy a bank this year or early next year. After all, dealmaking takes time.
July 18 -
PrivateBancorp (PVTB) in Chicago reported a jump in quarterly income as costs associated with soured loans and foreclosed properties fell sharply.
July 18 -
Fifth Third Bancorp said second-quarter profit rose 58% as lending and fee income grew and the bank posted a gain from selling a stake in Vantiv Inc.
July 18 -
Customers are putting their cash to work, or at least taking it out of the bank, and bankers like U.S. Bancorp CEO Richard Davis think that could signal higher demand for loans down the road.
July 17 -
Strong gains in asset-management fees and a variety of one-time benefits helped offset a dip in interest income at the Pittsburgh bank. Its CEO says to look for more of the same in the second half of the year and not to expect it to buy another bank.
July 17 -
M&T, in Buffalo, N.Y., is still comfortable with its decision to acquire the mortgage lender even though a recent rise in mortgage rates could crimp Hudson City's profits.
July 17 -
Bond Street Holdings in Weston, Fla., has found a backup M&A target after its deal for Atlantic Coast Financial fell through.
July 17 -
Wintrust Financial Corp. in Rosemont, Ill., reported a rise in second-quarter profit thanks to higher fee income and lower interest costs.
July 17 - PSO content
Equifax Workforce Solutions, an arm of credit reporting agency Equifax Inc., will help verify the incomes of people who apply for federal subsidies to buy insurance under the new health care law.
July 17 -
Robert Wahlman will become CFO of the $3.8 billion-asset company and its bank on Aug. 13, Customers announced Tuesday.
July 16 -
Florida Community Bank in Naples is partnering with Raymond James Financial (RJF) to offer its customers asset management services.
July 16 -
Mitsubishi UFJ Financial Group has created a holding company to oversee the North and South American operations of its two subsidiaries: Bank of Tokyo-Mitsubishi UFJ, based in New York City, and Union Bank, based in San Francisco.
July 16 -
Competition for large corporate loans is as intense as ever and, until it eases, the Dallas bank is content to let its middle-market lending drive profits.
July 16 -
Capital One Financial Corp. (COF) is in talks to take about 250,000 square feet of offices at the UBS Building on Manhattan's Park Avenue.
July 16 -
Hedge funds have beaten the FDIC in a series of legal disputes over the assets of bankrupt holding companies, exposing a serious flaw in the regulator's system for recovering value from failed institutions.
July 16 -
Reliance Financial Corp. in Atlanta has agreed to buy the trust and asset management business of Grand Bank and Trust of Florida in West Palm Beach.
July 16 -
The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.
July 16 -
The $2.8 billion-asset Wilshire would pay about $105 million in cash and stock for the $542 million-asset Saehan, the companies announced Monday.
July 15 - Illinois
The "we are all buyers" mentality held by most of Chicago's large community banks changed when Taylor Capital agreed to sell to MB Financial for $680 million. It could signal the beginning of long-awaited consolidation in the Chicago area.
July 15






