Growth strategies

Technology imperatives, weak loan demand and the need for increased efficiency could put pressure on dozens of regional banks to join forces with rivals.

The Virginia company, which shuttered 14 locations in September, will close another five branches early next year.

The Pittsburgh company is using its BlackRock windfall to execute a familiar script: buy an underperforming bank, cut costs and strengthen ties with commercial clients.

The deal would rank among the biggest bank combinations since the financial crisis, creating a coast-to-coast franchise with about $563 billion of assets and branch presence in 29 of the nation’s 30 largest markets.

Members of $5.3 million-asset WJC Federal Credit Union will vote to merge into $3.2 billion-asset Truliant FCU, based in North Carolina.

The deal, intended to bolster CUNA Mutual's digital capabilities, is the company's second such move in a month.

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.