Growth strategies

PNC Financial Services Group Chief Executive Bill Demchak said he wants to position the bank to perform in a sector in which smaller firms are disappearing amid a wave of consolidation.

The company will gain seven branches, including one in Richmond, Va., after it acquires Sevier County, which is based in eastern Tennessee.

The Michigan-based institution has positioned itself for additional growth by making it easier to qualify for membership.

The Wisconsin company is paying $248 million for Mackinac, which has $1.5 billion of assets and $1.3 billion of deposits.

The Mississippi company has never done a deal this large. But buying Houston-based Cadence would take it into high-growth markets and reduce both companies' concentrations in sectors such as energy, dining and hospitality.

Katz Investment agreed to buy Camp Grove Bancorp in March 2019. The Federal Reserve approved the buyer's application to form a bank holding company earlier this year.

Bank of Montreal agreed to sell its Europe, Middle East and Africa asset management unit to Ameriprise Financial for 615 million pounds ($847 million), marking CEO Darryl White’s biggest move yet to trim the bank’s portfolio of noncore businesses.

BancorpSouth would have $44 billion of assets after it buys Houston-based Cadence. The company will be rebranded, while the bank will retain the Cadence name.

Banking trade groups have called for congressional hearings following the Jacksonville, Fla.-based credit union's agreement to purchase the $1.6 billion-asset Heritage Southeast Bank, the largest deal of its kind to date.

The California company has not established a time or pricing for the IPO.