Growth strategies

The deal, PenFed's second merger announcement with a significantly smaller credit union, would expand its footprint into the Midwest.

Anchor Bank in Palm Beach Gardens was rescued by Bolivian investors after the financial crisis and began catering to South American clientele. Now it has agreed to buy a Broward County bank, setting the stage for its long-awaited, in-market expansion.

Muhlenberg Community Hospital CU said in a notice to members it needed a merger partner in part because it did not have the resources to keep up with monitoring for "cybersecurity and terrorism activities."

If the deal is approved, the $6.4 million-asset credit union would drop its federal share insurance upon joining Towpath Credit Union.

The company is looking to tap into a surge of homebuying tied to historically low interest rates.

Members of Niagara Mohawk Power Corp. Troy Employees Federal Credit Union recently voted to merge with Albany-based CAP COM.

The Mississippi company said Duane Dewey, the president of its bank, will succeed Gerard Host as CEO in January.

Rob Holmes, who will join the Dallas company in January, has been the global head of corporate client banking and specialized industries at JPMorgan Chase.

The acquisition will consolidate United's position in the St. Joseph market, where both institutions are based.

The sales are part of ConnectOne's strategy to replace traditional retail branches with banking hubs backed by technology.

The Detroit company said David Provost, former CEO of Chemical Financial, will become its CEO.

The deal will expand the credit union's reach into western Michigan at a time when a growing number of banks are trimming their networks.

Institutions that cling to outdated lending tools run the risk of being left behind by commercial clients who are barraged with opportunities to borrow faster and more conveniently.

The coronavirus pandemic has spurred more private buyers to acquire senior care homes, and the Oklahoma lender is eager to back them.

Many credit unions offer youth accounts to help establish early banking relationships, but a new account for kids from the nation’s largest bank has raised the level of competition.

The combined institution will serve almost 75,000 members with nearly $660 million in assets.

Southern Bancorp in Arkansas, which raised $35 million in capital from private investors, is out to prove that community development financial institutions can deliver attractive returns and fulfill their missions to help the underserved.

The deal is intended to better help credit unions and other financial institutions improve digital lending capabilities

The Southern California-based credit union would add a fourth branch in the Cowboy State if members of the merging credit union approve the deal.

Duncan-Williams, which serves institutional clients, will help South State expand its correspondent lending operations.