1. Bank of New York Mellon is buying the global investment servicing unit of PNC Financial Services Group Inc. for $2.31 billion. The deal shifts $855 billion in assets under administration to BNY Mellon.
2. Chemical Financial Corp., the parent of Chemical Bank in Midland, Mich., is paying $84 million in stock for OAK Financial Corp., the parent of $840 million-asset Byron Bank in Byron Center, Mich.
3. First Chester County Corp. in West Chester, Pa., is selling itself to Tower Bancorp Inc. in Harrisburg for $65 million in stock, or 90% of its tangible book value. Tower's assets would increase nearly to $2.7 billion.
4. A South Korean blank-check firm, North Asia Investment Corp., has a deal to buy Pacific City Financial Corp. in Los Angeles for $50 million. The takeover by a foreign buyer could draw heavy regulatory scrutiny.
5. For the first time, a private-equity buyer snapped up a failed bank using a shelf charter. Bond Street Holdings got 15 Florida branches in FDIC deals for Premier American Bank and, a week later, Florida Community Bank.
