Three years after guiding the Baltimore bank through bankruptcy, the group that recapitalized it found a similar institution eager to form a new partnership.
Like many banks its size, CenterState in Florida may need to venture out of state to find a big enough acquisition to make additional compliance costs worthwhile.
Triumph Bancorp in Dallas has successfully taken chances on out-of-state acquisitions, factoring and other nontraditional strategies that many of its peers have avoided.
The ranks of mutually owned banks are in decline. Survivors say sharper marketing, better access to capital and lower barriers to entry could stop the bleeding.
Rising taxes, declining population and the political landscape in Illinois have led several bankers to put more money and resources into nearby states.
