M&A
The $417 million agreement would give Richmond, Virginia-based Atlantic Union Bankshares "the critical mass" it needs in its home state and neighboring North Carolina, according to CEO John Asbury. He and his counterpart Jeff Haley at American National Bankshares in Danville, Virginia, describe each other as longtime pals.
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The recent conversion marked one of the final steps in the $8 billion acquisition, first announced in 2021. U.S. Bank still anticipates up to $900 million in cost savings and a breadth of opportunities to expand revenue from the transaction.
July 19 -
After the Tennessee bank's canceled sale to TD Bank, it launched a marketing campaign that attracted tens of thousands of new customers. The next step is expanding these relationships, executives said during the company's second-quarter earnings call.
July 19
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Byline Bancorp completed its acquisition of Inland Bancorp on time, avoiding the kind of regulatory delays that have dampened bank M&A activity for the past 18 months.
July 5 -
Longstanding factors such as the share of local deposits held by each bank will no longer be the main considerations in determining the competitive effects of a deal, said Assistant Attorney General Jonathan Kanter. His speech was interpreted as a hint that banks seeking merger approvals could face tougher times ahead.
June 20 -
California regulators are suggesting that programs that allow workers fee-free access to their earnings between pay periods should be treated as loan products. That's wrong and short-sighted.
June 20 -
For years, the Japanese-owned bank engaged in deception with respect to three different kinds of fees, regulators found. U.S. Bank inherited the liability when it acquired MUFG Union last year.
June 15 -
The Tennessee-based bank was supposed to be acquired this year, but the merger fell apart a month ago. Now executives say that employees are energized as they reengage with clients who are relieved that they won't be switched away from First Horizon's systems.
June 6 -
Bankers and a key government supervisor say the downfalls of multiple regional lenders reminded regulators that traditional M&A is better for the industry than failed-bank-deals.
June 6 -
First Citizens, JPMorgan Chase and New York Community Bancorp all bought failing banks in 2023. Here's what experts say they and other acquirers should do to ensure the tech integration is smooth.
May 18
