Growth strategies

The Illinois company has agreed to pay $191 million for the parent of Glenview State Bank.

Weeks away from succeeding Michael Corbat, Jane Fraser said she’d consider streamlining some units or divesting others as part of her effort to kick-start return on equity.

The Pittsburgh company intends to continue adding commercial offices and retail branches in markets it had been eyeing before agreeing to buy BBVA USA for $11.6 billion.

Diane Arnold, who will succeed the retiring Gregory Shook in July, has been with the bank since 2002. She is currently the chief lending officer.

The deal is a sign of further consolidation among Twin Cities-area credit unions, following another combination announced in May.

The bank agreed to acquire A Mortgage Boutique, which operates in six states.

The Mississippi bank will pay $108 million for the parent of FNB Bank, which has branches in Alabama, Georgia and Tennessee.

Flush with excess capital, Bank of Montreal, TD Bank and others say they might be in the market to do a cross-border deal.

Bank stocks have climbed because of expectations that the change of power in Washington will hasten vaccine distribution and speed the economic recovery. The boost could give executives more flexibility to pursue acquisitions or make other strategic moves.

In a letter to credit unions, NCUA urged federally chartered shops to expand their fields of membership to underserved areas, regardless of geography, in order to boost financial inclusion in the wake of the pandemic.