Growth strategies

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Institutions that cling to outdated lending tools run the risk of being left behind by commercial clients who are barraged with opportunities to borrow faster and more conveniently.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