The industry reported a jump in trading revenue and investment banking fee income, which helped offset rising expenses, according to the Federal Deposit Insurance Corp.'s latest Quarterly Banking Profile.

The Columbus, Ohio, bank has agreed to buy an investment banking and advisory firm that caters to midsize companies to "accelerate" the growth of its capital markets unit.

Across the country, banks of all sizes are investing in the wealth business as a way to deepen customer relationships, capture recurring revenues and tap into a massive transfer of wealth from baby boomers to Generation X and millennials. A lot of money is up for grabs, but maybe not enough to go around.

The Canadian banking giant established a nine-month window to finish its $13.4 billion purchase of First Horizon, which could be challenging given the tighter regulatory scrutiny of bank M&A. After November, the price tag will go up.

Robins Financial Credit Union is acquiring the $430 million-asset Persons Banking Co. The deal, announced Monday, comes less than a week after Georgia’s Own Credit Union in Atlanta said it is buying Vinings Bank in Smyrna.

With the buy now/pay later market cooling and regulatory scrutiny increasing, Zip aims to rapidly scale with merchants and consumers.