Firstbank Corp. in Alma, Mich., has agreed to buy ICNB Financial Corp. in Ionia, Mich., for $38.4 million in cash and stock.
The deal, which was announced after the markets closed Thursday, would give the $1.1 billion-asset company nine branches in three counties - Barry, Eaton, and Ionia - where it has none.
The deal price is about 1.75 times the $236 million-asset ICNB's book value. The sale is expected to close in the second quarter.
Suncoast Credit Union moved from one-time identity checks to monitoring members for the life of the account. It says fraud losses fell more than a third.
The $110 million settlement, which was mapped out last fall, requires Wells Fargo to establish a $100 million fund to provide downpayment and closing-cost assistance to eligible borrowers who live in or plan to buy a home in certain low- and moderate-income census tracts.
Whether red or blue, leaders share an affinity for battling fintech giants, as the liberal mayor is pressuring regulators to scuttle Western Union's plan to buy digital transfer Intermex, shortly following PayPal's 'DEI settlement' with the Trump administration.
Prashant Sharma, JPMorgan Payments' executive director of biometrics and identity solutions, spoke with American Banker about agentic commerce and how liability is shifting as a result of large language models.
The Office of the Comptroller of the Currency issued a final rule saying that federal law trumps state mandates on interest in escrow accounts for national banks, wading into an ongoing court battle.
The Mortgage Bankers Association now predicts a Federal Reserve rate hike to arrive in 2027, as housing price growth also slows over the next two years.
