Branch deals

The Sandy, Utah-based credit union opted to part with its two New Mexico branches to focus on other geographies. At least one expert expects an uptick in branch sales as more credit unions seek to "right-size" their networks.

The $23 million cash transaction boosts Old Second's presence in its home Windy City market, while marking Muncie, Indiana-based First Merchants' exit from Illinois.

Berkshire Hills Bancorp declined to detail the savings it expects from the downsizing, though one analyst estimated it could shave $3 million from the company's annual noninterest expenses.

Truity Credit Union in Oklahoma is selling its only branch in the state.

The North Carolina-based credit union, which purchased the vacant bank branch last summer, serves some members across the state line but has not had a brick-and-mortar presence there until now.

The U.K. banking giant is reportedly mulling an exit from retail banking in the United States. It could attract more interest if it tries to sell its network in pieces instead of looking for a single buyer, analysts say.

The Massachusetts company, which had a big second-quarter loss after writing down the goodwill tied to past acquisitions, will sell eight branches to Investors Bancorp and shutter 16.

The deal will expand the credit union's brick-and-mortar footprint to more than 30 locations across Illinois and California.

The sales are part of ConnectOne's strategy to replace traditional retail branches with banking hubs backed by technology.

The deal will expand the credit union's reach into western Michigan at a time when a growing number of banks are trimming their networks.