M&A
M&A
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First Federal of Northern Michigan Bancorp's agreement to buy Alpena Banking is a lesson in persistence and keeping communication lines open.
June 9 -
A breakdown of M&A announcements in the financial services industry for the week ended May 31.
June 9 -
The multi-bank holding company has historically taken a hyperlocal approach in the suburbs with individually branded banks. As it moves deeper into the heart of Chicago, the company is unifying a dozen branches under its Wintrust brand.
June 9 -
Doral Financial's (DRL) dispute with the Puerto Rican government over a tax refund will be heard on an expedited basis by the territory's courts.
June 9 -
Wintrust Financial (WTFC) of Rosemont, Ill., is planning to raise capital by issuing subordinated debt.
June 9 -
Big banks can afford mega-settlements to solve their woes, but First Horizon National in Tennessee has to fix itself the old-fashioned way: slow cleaning up of its mortgage mess, opportunistic acquisitions, opening loans offices and, oh yes, begging investors for a few more years of patience.
June 6 -
The $9.7 billion-asset company said in a regulatory filing Wednesday that it could sell the stock from time to time through Credit Suisse Securities.
June 6 -
Sumitomo Mitsui Financial Group, Japan's second-biggest bank by market value, would be open to a purchase of BNP Paribas' U.S. unit BancWest amid a push for acquisitions abroad, Chairman Masayuki Oku said.
June 5 -
The $1.6-billion asset company, based in Asheville, N.C., is headed into Virginia for the first time after announcing plans Thursday to open a commercial loan production office in Roanoke.
June 5 -
The company claims in a lawsuit against the Puerto Rican government that the territory could lose "a major lender in the Puerto Rico housing market" if it is denied a $230 million tax refund.
June 5 -
Donald Shamey, president and chief executive at NexTier Bank in Butler, Pa. will retire in July after 40 years at the helm.
June 5 -
Fidelity Southern (LION) in Atlanta said Thursday that it is buying five branches and roughly $200 million of deposits from CenterState Bank of Florida (CSFL).
June 5 - South Carolina
BNC Bancorp (BNCN) in High Point, N.C., has agreed to buy Harbor Bank Group in Charleston, S.C.
June 5 -
The Armed Forces Benefit Association plans to sell its bank to local management. While insurers have been fleeing the industry due to regulation, the group says it is getting out because its membership's use of the bank is falling and it would rather use the capital to expand its life insurance business.
June 4 - Ohio
It's not easy to survive as a single-branch community bank anymore. That's the view of John Essen, president of Community Savings Bank in Bethel, Ohio, which agreed this week to merge with Home Building and Loan Co., a savings and loan in Greenfield, Ohio.
June 4 -
Stifel Financial (SF) has agreed to buy a Legg Mason wealth management unit, the two companies announced Wednesday.
June 4 - PSO content
There are few winners in the current debt collection system. The majority of debt collectors have earned their toxic reputations and are deserving of increasingly heavy regulatory scrutiny.
June 4 -
Bank of America has sold more than 230 branches with $7.5 billion in deposits in the last two years. Here is a list of the nine banks that have bought the bulk of those locations.
June 4 -
National Penn Bancshares (NPBC) in Allentown, Pa., has agreed to buy TF Financial (THRD) in Newtown, Pa. The $8.6 billion-asset National Penn will pay $138 million in cash and stock for the $846 million-asset TF Financial.
June 4 -
Old National Bancorp (ONB) in Evansville, Ind., has agreed to buy LSB Financial (LSBI) in Lafayette, Ind. The $9.6 billion-asset Old National will pay about $67 million, or $41.67 a share, in cash and stock for the $366 million-asset LSB.
June 4



