M&A
Amid intense regulatory scrutiny, market volatility and economic uncertainty, 10 bank M&A deals have been scrubbed so far this year after 13 were scuttled last year. Deal activity has risen slightly lately, but the new normal is hard to gauge.
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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 -
American Banker's latest innovation report found that strategic corporate transactions are important for most banks but offer distinctive challenges. Fintech acquisitions give banks maximum control but can be hard to integrate if the buyers don't approach the process thoughtfully.
October 24
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The Federal Reserve Board and state regulators signed off on the $1 billion deal, paving the way for a late 2023 closing. The approvals were significant given that other large combinations have run into trouble.
October 23 -
The global clearinghouse inked the deal with Securrency as part of its push to expand the use of the emerging technology in capital markets.
October 20 -
The deal, first announced in September 2022, would have given Taichung Commercial Bancorp a foothold in several U.S. markets.
October 16 -
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 -
In a deal arranged by the Federal Deposit Insurance Corp., the Pittsburgh bank has bought a portfolio from the wreckage of Signature Bank. The purchase should help PNC expand its fund banking business, which helps private equity firms manage liquidity and finance investments in the short term.
October 3 -
The $23 million deal, signed in 2021 and initially projected to close in the second quarter of 2022, was delayed multiple times amid leadership turnover at the Los Angeles-based RBB.
October 2 -
MSP users who are not Encompass customers are a particular target and vice versa, ICE Mortgage Technology chair Ben Jackson said.
September 28
