BlackRock has agreed to purchase an $87 billion money-market fund business from Bank of America as it builds scale in an industry grappling with new regulations.

BlackRock's cash-management business has agreed to manage about $87 billion in assets for Bank of America clients as it seeks to build scale in an industry grappling with money-market fund regulations.

Seacoast Banking Corp. of Florida in Stuart has agreed to buy Floridian Financial Group in Lake Mary.

October was one of the best months in recent memory in terms of the number of deals and their aggregate value. If that pace continues, 2015 would be the strongest year for bank M&A since the financial crisis.

Southcoast handled its sale in way that truly resembled a reality dating show, whittling a list of 28 suitors down to three finalists. BNC Bancorp in North Carolina succeeded in landing the deal after its presentation won over Southcoast's board.

Bank of America has agreed to pay $335 million to settle a lawsuit claiming it misled shareholders about risky mortgages and its dependence on the electronic mortgage registry known as MERS.

A breakdown of M&A announcements in the financial services industry for the week ended October 31.

Atlantic Capital Bancshares in Atlanta sold $25 million in capital to help fund its purchase of First Security Group in Chattanooga, Tenn.

The company recently created a collateralized-debt obligation backed by bank debt, bringing to mind the types of structured investments that plagued smaller banks a few years ago. This time, StoneCastle will hold all the credit risk, instead of selling it off to banks. The CDOs are backed by relatively straightforward sub debt rather than hybrid securities.

M&T Bank in Buffalo, N.Y., has completed its acquisition of Hudson City Bancorp in Paramus, N.J., putting to rest a deal that had been announced more than three years earlier.

Equity Bancshares in Wichita, Kan., is planning to raise up to $36 million through an initial public offering.

The New York company took investors on a roller coaster ride over a dozen years, with issues that included a CEO's death, another leader's ambitious M&A strategy, and an ill-timed effort to upgrade outdated technology.

While executives are eager to put excess capital to work, the sell-off of KeyCorp stock following the announcement of the First Niagara deal shows investors will react swiftly — and severely — when it appears a buyer has overpaid.

The Royal Bank of Scotland Group has completed its divestment of Citizens Financial of Providence, R.I.

The $815 million-asset company said in a press release Friday that it will close locations in Ilwaco and Ferndale in western Washington.

Wells Fargo is ready to recruit more than 200 brokers from Credit Suisse's U.S. private banking unit set to close early next year, with the Swiss bank's blessing.

First Citizens Bancshares in Raleigh, N.C., reported an improvement in third-quarter profit thanks to the benefits of M&A and organic growth.

Berkshire Hills Bancorp in Pittsfield, Mass., has agreed to buy a unit from Parke Bancorp in Washington Township, N.J., that focuses on Small Business Administration loans.

KeyCorp, Ohio's second-largest bank, has agreed to buy First Niagara Financial Group Inc. in a $4.1 billion cash-and-stock deal that extends the company's reach in upstate New York.

KeyCorp's deal to buy First Niagara is a return to significant M&A for a company that has long been content to stay on the sidelines. But getting such a deal approved is tougher than ever, and will test Beth Mooney’s regulatory juice.