Growth strategies

The Georgia company agreed to pay $84 million for a bank with nine branches and $715 million of assets.

The deal would be Independent's sixth since 2015 and would continue a wave of consolidation among Boston-area banks.

Clarity on credit quality has bankers ready to strike deals after a lengthy pause. A steady rise in stock prices has also given potential buyers the financial wherewithal to pursue acquisitions.

Cal Poly Federal Credit Union's recent merger into SchoolsFirst highlights the difficult choice many small institutions face: diversify your field of membership or risk going out of business.

Burns & McDonnell Credit Union holds just $27 million of assets and is seeking approval to merge into CommunityAmerica, which serves the KC metro region and is the largest credit union in Kansas and Missouri.

The Ohio company has opened just 32 of 120 new branches it plans in the region by 2022, but those offices are making a sizable contribution to growth.

The San Diego company will pay $55 million to Morgan Stanley for a business that has 200 custody relationships, $23 billion of custodial assets and $1.2 billion of deposits.

Trabian Technology, which builds digital products and mobile applications, is the latest in a series of technology-related purchases by MVB.

The company would gain 10 branches around Sacramento as part of the $135 million acquisition.

The Connecticut company will have more than 200 branches and $64 billion of deposits after completing the acquisition.

After just 45 days on the job, the Citigroup CEO is jettisoning uncompetitive overseas operations, vowing to ramp up wealth management and touting the long-term importance of the company’s Banamex unit. More moves are on the way, she says.

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.