Mackinac Financial in Manistique, Mich., has agreed to buy First National Bank of Eagle River in Wisconsin.

Still facing revenue challenges, Regions, PNC and U.S. Bank vowed to reduce overhead in 2016. The cuts are less about bolstering short-term returns than funding investments in cutting-edge technologies or new products and services to remain competitive.

First Midwest Bancorp in Itasca, Ill., plans to close branches and sell unwanted real estate as customers shift to online banking.

Citigroup, which pioneered the era of global megabanks before almost collapsing in the financial crisis, just slid behind Wells Fargo to rank as the nation's fourth-biggest lender.

Citigroup boosted fourth-quarter profit more than analysts estimated as it generated more revenue from investment banking and a portfolio of unwanted assets.

Acquirers are starting to look more closely at a seller’s commitment to cybersecurity to avoid reputational and operational risk.

Citigroup boosted fourth-quarter profit more than analysts estimated as it generated more revenue from investment banking and a portfolio of unwanted assets.

Royal Financial in Chicago has agreed to buy Park Bancorp in Chicago.

Goldman Sachs Group Inc. said it agreed to settle a U.S. probe into its handling of mortgage-backed securities for about $5.1 billion, cutting fourth-quarter profit by about $1.5 billion and closing out a year of record legal and litigation costs.

The $22 billion-asset Winstrust said in a press release Thursday that it will pay $30 million in cash for the parent of the $125 million-asset Foundations Bank.

Peter Humphrey, who stepped down as Financial Institutions’ CEO in 2012, said he supports a push by activist investor Clover Partners to force the company to find a buyer. Humphrey left the company’s board in 2014.

Four Oaks Fincorp in Four Oaks, N.C., has refinanced $11.5 million in subordinated debt.

The physical branch network is not dead, but to ensure its viability banks need to get serious about trimming it down and combining branches with digital channels.

BOK Financial in Tulsa, Okla., has acquired E-Spectrum Advisors, a Dallas investment bank that focuses on the energy sector.

BankUnited of Miami Lakes, Fla., has exited the retail mortgage origination channel. It originated loans through its retail banking branches in Florida and New York.

The conventional wisdom is that MetLife is breaking itself up partly as a response to its designation as a systemically important company. But there is significant evidence that's wrong — here's why.

Independent mortgage lenders are expecting a wave of consolidation prompted by excessive compliance costs, a tepid housing recovery and the need for more capital to grow their businesses. Roughly 20% to 25% of independent companies could be eliminated or change hands in less than two years.

The opportunity for banks from the dramatic growth in deposits goes beyond just funding loans.

Having shored up capital following the financial crisis, many banks are flush with cash and in search of ways to put it to use. One option for banks that did sale-leasebacks in the past is to reacquire their branches.

MetLife plans to separate much of its U.S. retail business as Chief Executive Officer Steve Kandarian works to shrink the company to limit federal oversight.