Y-12 Federal Credit Union in Oak Ridge, Tennessee, said it would acquire First State Bank of the Southeast in Middlesboro, Kentucky. It was the 19th such deal announced this year.

Other acquisitive executives, however, say that interest rate cuts have hastened already-active deal discussions, as more banks seek scale and business line diversity.

The lender will combine its global commercial and institutional banking operations and is creating a new international wealth and premier banking business. HSBC also named Pam Kaur as its first female CFO.

The merged company's footprint would cover what Atlantic Union CEO John Asbury has called the golden crescent, stretching from Baltimore south to Hampton Roads.

Deutsche Bank hired UBS' Aly Alibhai to head North American mergers and acquisitions; National Bankshares promoted Lara Ramsey to president; Apple Pay users in the U.S. and U.K. now have a pay later option through Klarna; and more in this week's banking news roundup.

Berkshire Hathaway reaped about $370 million selling the stock, marking Warren Buffett's 16th round of disposals since mid-July.

The Swedish company struck a deal to offload buy-now, pay-later loans that it originates in the U.K. as it looks for ways to free up capital ahead of its public debut. 

Canaccord Genuity Group hires Nadine Ahn, who was fired from Royal Bank of Canada in April; Citigroup establishes a new banking executive team to oversee its commercial and investment banking work under Vis Raghavan; and more in this week's banking news roundup.

The Honolulu-based bank's board continues to recommend selling to Hope Bancorp in Los Angeles, despite a competing offer that includes a higher price tag.

The veteran turnaround executive was hired in 2020 to salvage the troubled banking company after the Justice Department launched a far-reaching probe of its mortgage lending practices. It agreed to sell to Florida-based EverBank.