M&A
M&A
-
Independent Bank Corp. (INDB) of Rockland, Mass., reported net income Thursday of $10.6 million for the fourth quarter of 2013, a 6.2% increase from the same quarter in 2012.
January 24 -
The sale represents roughly 73% of the private student loans held by First Marblehead's bank, Union Federal, according to the company's Thursday regulatory filing. Union Federal will receive 103.5% of principal in the deal.
January 24 -
KeyCorp may ultimately need to buy some niche business lines, or sell its operations in some fringe markets, to cure its efficiency woes.
January 24 -
Richard Davis, the head of U.S. Bancorp, criticized other banks that, he says, are overly dependent on releases of loan-loss reserves to boost earnings.
January 24 -
Wells Fargo & Co. (WFC), the largest U.S. home lender, agreed to sell more than 40 percent of its insurance brokerage locations to focus bricks-and-mortar operations on higher-growth regions and bigger clients.
January 24 -
Western Alliance (WAL) in Phoenix reported a drop in quarterly profits largely because of debt valuation adjustments.
January 24 -
Prosperity Bancshares (PB) in Houston, riding its recent wave of acquisitions, posted higher quarterly profit.
January 24 -
First Niagara Financial Group (FNFG) in Buffalo, N.Y., met quarterly estimates and announced a plan to invest heavily in technological improvements as it moves beyond its recent phase of rapid growth.
January 24 -
Washington Federal (WAFD) in Seattle has agreed to buy 23 Bank of America (BAC) branches in Arizona and Nevada.
January 24 -
City National Corporation (CYN) of Beverly Hills, Calif., posted net income of $55.1 million for the fourth quarter, up 17% from the same quarter a year earlier.
January 23 -
The $214 million-asset First Federal said in a press release Thursday that it will pay about $4.3 million in stock for the $73.7 million-asset Alpena. The deal is expected to close in the second or third quarter.
January 23 -
BancorpSouth (BXS) in Tupelo, Miss., reported a big jump in profit as credit quality continued to improve.
January 23 -
Perhaps more community banks should think boldly like TriCo Bancshares. The small California bank's deal to buy another rural lender, North Valley Bancorp, could give it the scale it needs to knock heads with Wells Fargo and B of A, its execs say.
January 23 -
Columbia Banking System (COLB) in Tacoma, Wash., reported higher quarterly earnings buoyed by last year's purchase of West Coast Bancorp in Lake Oswego, Ore.
January 23 -
Barkocy, research director of Mendon Capital Advisors, salutes his mentors and confesses a soft spot for small banks as he prepares to wrap up a career that lasted nearly five decades.
January 23 -
PacWest Bancorp (PACW) of Los Angeles reported a steep decline in quarterly earnings after it took a large charge tied to stock awards.
January 23 -
Alemany, who stepped down as head of RBS Citizens Financial Group in October, will serve as a director and audit committee member at business lender CIT Group.
January 23 -
BankUnited (BKU) in Miami Lakes, Fla., reported quarterly earnings that were in line with Wall Street expectations.
January 23 -
Susquehanna Bancshares (SUSQ) in Lititz, Pa., reported a profit of $41.3 million in the fourth quarter, down 4.4% from a year earlier.
January 23 -
First Financial Bancorp (FFBC) in Cincinnati warned that it will take a hit to fourth-quarter earnings because of a $22.4 million valuation adjustment to its indemnification asset from the Federal Deposit Insurance Corp.
January 23


