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CIMB Bank in Kuala Lumpur has launched on app on Facebook that lets customers transfer funds, among other features.
December 31
CIB Marine Bancshares (CIBH) in Waukesha, Wis., has agreed to buy a mortgage lender in suburban Chicago.
The $465 million-asset CIB Marine plans to buy Avenue Mortgage in Naperville, Ill., it announced Monday. Financial terms of the sale were not disclosed.
Avenue had assets of $9 million as of Dec. 31 and lends mostly in suburban Chicago. Under the deal, it would transfer certain assets and liabilities to, and become a division of, CIB's CIBM Bank subsidiary.
"We have been looking to acquire a mortgage lending company as a component of our strategy to improve performance and build value," Charles Ponicki, president and chief executive of CIB Marine, said in a news release. "The acquisition of Avenue's employees, in addition to its pipeline and infrastructure, will allow us to execute our strategy with a strong manager and experienced staff."
In April the Federal Deposit Insurance Corp.