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Proceeds from the sale provide the bank with "flexibility to evaluate and pursue various strategic initiatives to redeploy capital in support of our core banking business," Evans CEO David Nasca said.
November 8 -
Achieva Credit Union, which previously bought two community banks, is furthering its growth through the acquisition of an insurance company.
November 2 -
The Southeast regional bank plans to use the deal's sizable proceeds to pay down wholesale borrowings and restructure its securities portfolio. Numerous banks have made similar moves in recent months.
October 24 -
M&T Bank, Truist Financial and Eastern Bankshares are among the banks that have sold all or part of their insurance subsidiaries over the last year. Though the price is right, analysts warn that when interest rates decline, sellers will be without a key source of fee income.
October 3 -
The indictment of Sen. Bob Menendez, D-N.J., is inconvenient for some Democratic priorities, but unlikely to impact a cannabis banking bill up for debate in the Senate Banking Committee.
September 26 -
Boston-based Eastern Bankshares says its premium on the sale of Eastern Insurance Group will help fund the acquisition of Cambridge Trust and build a wealth management powerhouse. But some analysts point out more revenue is being sacrificed than gained.
September 20 -
The storm is slamming housing markets already beset by some of the nation's highest property insurance premiums.
August 30 -
Pride month is the perfect time to take a hard look at the discrimination that LGBTQ people face in the financial services industry, particularly when it comes to obtaining credit.
June 16StellarFi -
New loan acquisitions fell to their lowest level since 2020, but companies also grew shares of residential securities noticeably over the past three years, S&P Global Market Intelligence said.
June 13 -
A consortium of financial companies said premiums are rising despite a relatively low level of overall risk, causing some banks to reconsider their policies.
April 5