Atlantic Union in Virginia made the most of its four-year foray into the registered investment advisory business, but it decided to take a step back after concluding one of its banking clients would do an even better job and that it could invest the proceeds elsewhere.

The boards of the Cornerstone League and the Heartland Credit Union Association are moving forward with due diligence to possibly combine the organizations, which serve credit unions in five states.

Participants in the sale of banks to credit unions may need to do a better job of due diligence and gauging the receptivity of their regulators to such deals, experts say in response to the cancellation of VyStar Credit Union's agreement to buy Heritage Southeast Bank.

The $2 billion-asset buyer could gain more than $300 million of deposits in the Magnolia State.

The buyer, which is based in North Carolina, said buying GrandSouth Bancorp would give it more than $1 billion of assets and eight branches in South Carolina.

Consolidation results in harms such as higher prices, reduced worker bargaining power and increased barriers to competition. Because of that, regulators must carefully vet these deals.

The purchase of Farmers & Stockmens Bank would create a bigger and more experienced Small Business Administration lending team to help the Kansas bank capitalize on a predicted spike in demand motivated by inflation and the prospect of a recession.

BNP Paribas has expressed interest in a potential acquisition of ABN Amro Bank, the Dutch consumer lender that’s been government-owned since the financial crisis, according to people with knowledge of the matter.

VersaBank, which recently announced a deal for a tiny Minnesota bank, says volatility will increase demand for its loans. “Traditionally, we’ve grown rapidly when our point-of-sale financing partners have trouble raising financing,” said CEO David Taylor.

In global news this week, U.K. regulators examine branch closures, Apple complies with Dutch App Store rules, a pan-Nordic payments system prepares for launch, and more.