Boston-based Eastern Bankshares says its premium on the sale of Eastern Insurance Group will help fund the acquisition of Cambridge Trust and build a wealth management powerhouse. But some analysts point out more revenue is being sacrificed than gained.

The combination would create a company with $27 billion of total assets, $18 billion of loans and $22.6 billion of deposits.

Instead, the Canadian bank will try to ramp up its current strategy, which includes growth in commercial lending and technology upgrades, as well as streamline management. 

It's a challenge Japan's largest lender must overcome as it focuses on growing its corporate banking presence in the US, said Fumitaka Nakahama, the firm's head of global corporate and investment banking. 

The top three fintech SPAC mergers have a combined announced deal value of more than $2.6 billion as of the end of June 2023.

Amid concerns that the combination of the National Association of Federally-Insured Credit Unions and the Credit Union National Association could amplify the voices of only the biggest institutions, the heads of smaller ones see two clear advantages: cost and consistency.

Merchants Bancorp says it will sell a total of four branches to two buyers and focus more on its core residential mortgage lending business. Banks of all sizes have been pruning branch networks in recent years.

Half a year after it swallowed up Silicon Valley Bank during the spring banking crisis, First Citizens Bank is blending the former SVB Private into its wealth business.

Labor Day Weekend saw more than 7,000 advisory firms and millions of clients make the move from "green" to "blue."

Five Star Credit Union and Michigan State University Federal Credit Union announced a combined four bank acquisitions within a few days. They're among 10 credit union agreements to buy banks this year.