Growth strategies

The company has agreed to pay $43 million for a bank with assets of $354 million.

Members of two smaller institutions will soon vote on whether to join South Carolina-based REV, boosting its assets by 15% and giving it a foothold in North Carolina.

The bank, formed in 2019 when investors bought and recapitalized Sound Bank, will use the funds to hire lenders and improve its overall infrastructure.

Efforts to simplify business operations under incoming CEO Jane Fraser will cost a lot of money but will ultimately create a safer, more profitable company, Chief Financial Officer Mark Mason said.

Capital One Financial has begun to lift borrowing limits for certain customers as it seeks to restart growth in its sprawling credit card business.

Some in the industry are beefing up online educational offerings and enlisting social media ambassadors on college campuses to help recruit younger consumers.

The Office of the Comptroller of the Currency issued a prompt corrective action directive to First National Bank and Trust in January, requiring it to hire a forensic auditor and provide the OCC with access to documents and records.

The deal for the $63 billion-asset People's United would create a company with more than $200 billion of assets and a branch network stretching from Maine to Virginia. Buffalo, N.Y.-based M&T has not made an acquisition since buying Hudson City Bancorp in late 2015.

The company has agreed to pay $32 million for a bank with six branches and $256 million of assets.

The Houston-based lender is working with financial advisers to solicit interest from potential buyers, according to people familiar with the matter.