Capital

Kearny agreed to pay $408 million for Clifton Bancorp in a deal that will add 12 branches in northern New Jersey.

The company plans to use some of the offering's $48 million in proceeds to redeem preferred stock.

The bank is looking to raise $72 million, which it could use for organic growth and acquisitions.

The company, which agreed to buy Southwest Bancshares in Mobile, also plans to sell $45 million in stock to help fund the deal.

Increased investor appetite and the emergence of specialized debt ratings are expected to spur demand, and community banks are looking for ways to fund expansion and hedge against future economic downturns.

Flush with capital and facing stiff competition for customers, many regional banks appear to be mulling acquisitions to accelerate growth.

First Reliance in South Carolina, which recently announced its first bank acquisition, is angling to take advantage of disruption caused by bigger mergers in the Carolinas.

Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.

The Illinois company, four months removed from its last bank acquisition, just announced the biggest purchase in its history. Alpine Bancorp. will add low-cost deposits and scale to Midland States' wealth management business.

The company agreed to buy Commercial Bancshares for $59 million in stock.