The niche railcar leasing unit, which the North Carolina company inherited with its acquisition of CIT, may generate roughly 25% of the combined entity's noninterest income, executives said. They vowed to slow the sale of boxcars that had been underway at CIT.

Farmers National Banc Corp. in Canfield has agreed to buy Emclaire Financial in neighboring western Pennsylvania — its first move across state lines.

The North Carolina bank’s earlier $60 billion plan, which was tied to the BB&T-SunTrust merger, is set to expire this year. Its new efforts are a sign that such deals aren't always one-off arrangements meant to grease the rails for an acquisition.

Bank of Montreal is selling about C$2.7 billion ($2.1 billion) in shares to help fund its purchase of Bank of the West from BNP Paribas. 

The Federal Reserve's unanimous approval is a win for the Rhode Island company, though it will have have to take part in an additional round of stress tests in 2023.

A $1.9 billion lawsuit against Bank of Montreal — which is accused of lying to a judge after a predecessor bank destroyed documents — may go to trial late this year. The legal imbroglio is coming to a head as regulators examine the Canadian banking giant’s proposed acquisition of Bank of the West.

The two similarly named companies had planned to merge. At issue is whether Amalgamated Financial in the Big Apple violated terms of that agreement when it called off the deal in February.

Ramp, a startup that offers corporate cards and other finance tools to businesses, raised $750 million in a funding round that valued the fintech at $8.1 billion.

Banks across Europe and the U.S. committed to lend tens of billions of dollars for leveraged buyouts and acquisitions. Now they need to find buyers for the debt, and demand is relatively weak.

Seven of the 10 largest merger agreements since 2012 have been struck in the last year and a half. Here's a look at how they stack up against each other.

The two Wisconsin banks have roughly $3 billion of assets and more than 20 branches.

JPMorgan Chase agreed to buy Global Shares, a provider of cloud-based software for managing employee share plans, as the biggest U.S. bank scoops up firms to fend off competition.

In a survey last month, only one in 10 chief executives identified mergers as their top priority, while 77% pointed to organic growth. The sparse interest in dealmaking may be due to volatile markets, along with slower approvals from regulators.

M&T-People's closing date set, U.S. Bank's WNBA deal and more in banking news this week.

The deal for Horizon Community Bank in Arizona is the fifth instance of a credit union agreeing to buy a bank this year, and the second such deal for the Phoenix credit union, which bought Pinnacle Bank in 2019.

Citigroup, in the midst of overhauling its businesses in Russia when the country went to war, has seen efforts to sell a consumer banking unit there stall and is helping some employees transfer abroad.

Key advocacy organizations are negotiating a community benefits agreement with Minneapolis-based U.S. Bancorp. Until a deal is reached, they are vowing not to back approval of the $8 billion acquisition.

The sale of Partners Bancorp in Maryland to OceanFirst Financial in New Jersey was expected to be approved by midyear. But regulators' reviews of the applications are taking longer than expected, meaning the companies can no longer “give any assurance as to the timing” of the deal's completion, Partners says.

Newtek, the No. 2 originator of Small Business Administration 7(a) loans, is buying a single-branch bank in New York. The news sent its stock price tumbling as shareholders revolted, but CEO Barry Sloane is staying the course.

The $7.6 billion deal was originally expected to close in the fourth quarter of last year, but the banks had pushed back their deadline until June. Once the merger is complete, the combined bank will have more than $200 billion in assets.