The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.

The two companies announced the deal more than a year ago and had anticipated closing it in the first half of 2023. But advocacy groups have urged regulators to withhold approval, arguing that it will hurt consumers.

United Federal Credit Union plans to enter the state through a merger next year, and that could be a problem for Keystone-state banks and credit unions that are already struggling to grow.

The Toronto-based company is now forecasting more than $800 million USD in annual cost savings as a result of its Bank of the West acquisition in February. That's up nearly 20% from an earlier projection.

Synchrony Financial bought Pets Best ahead of a pandemic-driven surge in the pet insurance business. Now it's selling the subsidiary for a $750 million after-tax gain.

The Champaign, Illinois-based company said it would pay $41.6 million to acquire Merchants and Manufacturers Bank Corp., which has five branches in the Greater Chicago area.

Arthur J. Gallagher & Co. has been a prolific acquirer, purchasing the insurance brokerages from multiple banks over the last year. Its management has indicated it has another $3.5 billion that it can use for more deals.

Dream Chasers upped its bid for Carver, one of the nation's largest and highest-profile Black banks, by a quarter, to $3.25 per share, dismissing the growth strategy interim CEO Craig MacKay outlined in a recent shareholder letter.

OneMain Financial, which mainly offers consumer installment loans, is paying $115 million to buy a small subprime auto lender from the investment bank Jefferies.

OFG Bancorp's CEO José Rafael Fernández has weathered tough times during Puerto Rico's economic downturn. Now he is hopeful that his bank can seize on the better times ahead.