Growth strategies

The Office of the Comptroller of the Currency has given preliminary conditional approval for Winter Park National Bank, allowing organizers to work on office space, hire staff and raise capital.

Indianapolis-based CU has operated an insurance CUSO since 2004.

The company has hired an investment bank to help it consider strategic alternatives, which could also include recapitalizing.

CUs will have improved opportunities to add areas, sources say, but new rules ‘not a panacea.’

The deal, which is expected to close in the fourth quarter, values Cornerstone at $25.8 million.

Bank of Montreal, Canada's oldest lender, has turned to a former investment banker with an interest in continued U.S. expansion to lead the firm into its third century.

SEG-based CUs could see a particularly big benefit from the rules, observers say, but community-chartered institutions and others could also see a significant boost.

The deal, which is expected to close in the fourth quarter, should significantly increase PacWest's operations in Southern California.

The Houston company was formed in 2009 to buy struggling banks in the wake of the financial crisis.

Live Oak Bancshares in North Carolina has hired Scott Custer to run its bank. Custer recently resigned as a consultant to F.N.B. Corp. in a move that took place days after F.N.B. bought Yadkin Financial, where he had been president and CEO.

Coast Capital Savings, Canada's biggest credit union by membership, plans to expand beyond British Columbia to challenge the dominance of the nation's banks.

In addition to 11.5 percent loan growth and membership rising at its fastest rate since 1987, membership at Michigan's CUs is growing faster than the state's population.

Scott Custer resigned as a director and paid consultant to F.N.B. days after the Pittsburgh company bought Yadkin to enter North Carolina.

Tiny HECU had just 55 members, $170,000 in assets.

The California company will lease space on three floors of the building, while keeping a branch at the location.

Unlike most credit union conferences, if you’re under 40, you were too young to “crash” the Louisiana CU League’s annual meeting.

Mid Penn agreed to pay $59 million for Scottdale Bank in a deal that is expected to close in the third quarter.

The New Jersey company added a representative of Blue Harbour Group in Connecticut to its board.

First Bank, based in New Jersey, will pay about $27 million for Bucks County Bank in a deal that is expected to close in the third quarter.

Creative growth strategies are helping banks with $10B to $50B of assets — including Webster and TCF — improve profitability. These ‘tweeners’ deal with tougher regulations than smaller competitors without the scale larger ones have to absorb the expense.