Oneida Financial Corp. of Oneida, N.Y., has agreed to acquire the $61 million-asset Vernon Bank Corp. of Vernon, N.Y., for about $11.4 million.
The deal, announced last week, would give the $437 million-asset Oneida three new branches in Vernon, Westmoreland, and Utica. All would be new markets for Oneida.
The sale is expected to close in early 2007. Oneida is to pay $54.00 in cash for each Vernon share, or about 1.75 times Vernon's book value.
The bank, which owns 48.5% of the Greek fintech, is battling with the company's owners over how to determine valuation, among other disputes. JPMorgan says it is reviewing aspects of the legal case but is still seeking a $1 billion claim in Greece.
Three executives at Space City Credit Union in Houston will get a total of $6.75 million if the cooperative's members approve a merger. The 12,000 or so members will split $5 million.
The Trump administration has withdrawn from the Federal Register a proposed rule that sought to protect consumers from having their sensitive financial information sold.
New York Attorney General Letitia James is accusing Capital One of deliberately deceiving customers and obscuring higher interest rates. The lawsuit comes less than three months after the CFPB dropped a similar case against the bank.
As banks face mounting check fraud, a newly unsealed indictment reveals how one criminal ring exploited weak spots in the system.
A joint study by the Federal Reserve Bank of New York and the Bank for International Settlements found that a shift to widespread tokenization would not impact central banks' ability to transmit monetary policy, and that the technology could even prove beneficial.
