Taichung Commercial Bank said it would pay $82.1 million to buy American Continental Bancorp in suburban Los Angeles.

Federal Reserve Gov. Michelle Bowman said a shifting landscape has made it difficult for community banks to compete. She called for bank merger reform to make community bank M&A easier.

Western Alliance, in its first appearance on the list of leading banks with more than $50 billion of assets, landed at No. 1. The Phoenix company and the other top performers in this class have either created niche businesses, made acquisitions or done both.

The same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.

Yie-Hsin Hung will join State Street Global Advisors in December, succeeding Cyrus Taraporevala, who has been CEO since 2016. The hiring comes as the Boston-based custody bank continues to await regulatory approval for its acquisition of Brown Brothers Harriman's investor services division.

The all-stock acquisition of Lakeland Bancorp, expected to close in the second quarter of 2023, would create a combined bank with more than $25 billion of assets.

Citigroup is seeking a second and perhaps final round of bids for its Mexican retail arm Banamex by the end of October in what could be one of the year's biggest banking deals, according to people familiar with the matter. 

Credit Suisse Group denied it's considering exiting the U.S. market following a Reuters report that the Swiss bank was weighing such a withdrawal for its investment bank.

The number of U.S. banks has dropped by two-thirds since the mid-1980s. Everyone expects this trend to continue for the foreseeable future. But at what point does M&A cool?

The buyer said it would pay $140 million in cash and stock to acquire Citizens Bancshares. It would gain about $1 billion of assets in and around Missouri's largest city.