The Minneapolis company is issuing stock to the Japanese banking giant that previously owned MUFG Union Bank in order to repay part of a $3.5 billion obligation. The move will also boost a key capital ratio, which sagged after the deal was completed, but is expected to cut into U.S. Bancorp's earnings per share.

The Seattle bank, which has lost about two-thirds of its market value this year, is also said to be considering raising capital and selling assets.

Harborstone Credit Union in Lakewood, Washington, plans to take over the Seattle Bank, which scuttled a deal to sell to BM Technologies last year.

Investors should expect "consistency, predictability," says COO Tyler Wilcox, who is scheduled to take over for longtime CEO Chuck Sulerzyski when he retires next spring.

Seibly, a 35-year banking industry veteran, takes over the Jacksonville, Florida, online bank now that private equity investors have purchased it from TIAA.

A pending deal between two sizable institutions in Minnesota could mark the end of a dealmaking drought, experts say.

 The advance has helped the group pare its declines this year to roughly 10%, easing an earlier drop of as much as 33% following a string of regional bank collapses, including Silicon Valley Bank in March. 

Big Poppy Bancorp has applied to the Federal Reserve to acquire up to 24.99% of Summit State Bank. Both institutions are headquartered in Santa Rosa. Combining them would create the city's biggest bank.

Centerbridge Partners and Warburg Pincus said they would invest $400 million in Banc of California in conjunction with its purchase of PacWest. The private equity injection was made possible through reverse accounting, which used Banc of California's balance sheet to value the transaction.

The Hicksville, New York, company says its deposit base is stable and poised for growth four months after its acquisition of the failed Signature Bank, some of whose depositors fled to larger banks. Private bankers — including new hires from another failed bank, First Republic — are trying to win back lost deposits.

The challenger bank and fintech lender will use its first acquisition to expand its point-of-sale financing strategy into another vertical.

Post-merger Banc of California will target "in-market relationship banking" by focusing on treasury management services and loan growth to boost "low-cost" commercial deposits, CEO Jared Wolff said.

The $417 million agreement would give Richmond, Virginia-based Atlantic Union Bankshares "the critical mass" it needs in its home state and neighboring North Carolina, according to CEO John Asbury. He and his counterpart Jeff Haley at American National Bankshares in Danville, Virginia, describe each other as longtime pals.

The deal is expected to close late in 2023 or early next year and be immediately accretive to the combined company's earnings.

The recent conversion marked one of the final steps in the $8 billion acquisition, first announced in 2021. U.S. Bank still anticipates up to $900 million in cost savings and a breadth of opportunities to expand revenue from the transaction.

After the Tennessee bank's canceled sale to TD Bank, it launched a marketing campaign that attracted tens of thousands of new customers. The next step is expanding these relationships, executives said during the company's second-quarter earnings call.

JPMorgan Chase's revenue soared to a record in the second quarter, boosted by the Federal Reserve's interest rate hikes and its acquisition of First Republic Bank.

The business is deposit-taking and offers revolving credit cards as well as loans for small-ticket items. The potential sale could serve as a benchmark for other lenders considering selling their own consumer finance businesses. 

Tom Drake is joining Wells from Barclays as a managing director in its mergers-and-acquisitions group focusing on health care services and medical-technology deals. Chris Norman, most recently at Citigroup, is joining as a managing director in M&A focusing on technology in San Francisco.

The company said long-time chief executive Chuck Sulerzyski would retire in 2024 and be succeeded by Tyler Wilcox, Peoples' executive vice president of community banking.