M&A
M&A
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A breakdown of M&A announcements in the financial services industry for the week ended May 4.
May 6 -
Vincent Delie recently mentioned Maryland, Pittsburgh and Cleveland as target markets, though he expressed lukewarm interest in Philadelphia.
May 6 -
Astoria Federal Savings in Lake Success, N.Y., has hired an HSBC executive to lead its retail division.
May 6 -
HomeTrust Bancshares in Asheville, N.C., has agreed to buy BankGreenville Financial in South Carolina.
May 6 -
The longer yields stay low, "the bigger the problem becomes for banks," UMB CEO Mariner Kemper says. A low cost of funds helps UMB resist temptations presented by cutthroat competition and looser loan terms, Kemper adds.
May 3 -
More lenders are willing to make second-lien loans because of hot demand and greater yield, even as regulators warn against risks in the leveraged-lending market.
May 3 -
Two deals lifted First Community Bancshares in Bluefield, Va., in the first quarter.
May 3 -
New York investment bank MLV, expecting lots of bank M&A activity in the Southeast and Southwest, has hired an expert on those regions, David Bishop from Stifel Nicolaus, to start a research unit.
May 2 -
The San Francisco company's former CEO Dick Kovacevich served as stand-in at the Wells Fargo Championship pro-am. Why? One reason is that current CEO John Stumpf doesn't play golf.
May 2 -
Customer satisfaction with BMO Harris fell after it bought Marshall & Ilsley thanks to a customer-service glitch and other issues, showing how hard it is to integrate acquisitions.
May 2 -
HopFed is fighting back against claims by Joseph Stilwell that its CEO is overpaid.
May 2 -
The Federal Deposit Insurance Corp. has accused 18 former officers and directors of the parent company of Midwest Bank with reckless practices that led to the Chicago-area bank's failure during the financial crisis.
May 2 -
MidSouth Bank of Tennessee recently deployed software to speed up the process for documenting and calculating the allowance for loan and lease losses.
May 2 -
Sterling Financial in Spokane, Wash., has agreed to buy Commerce National Bank in Newport Beach, Calif.
May 2 -
Coface Collections North America Inc. has completed the process to become certified by the International Association of Commercial Collectors.
May 2 -
Ameris Bancorp in Moultrie, Ga., has agreed to buy Prosperity Banking Co. in St. Augustine, Fla.
May 2 -
D.A. Davidson has agreed to buy the Los Angeles broker-dealer and money-management firm Crowell, Weedon & Co.
May 1 -
The investors would inject $50 million into the struggling lender, the bank said Monday. U.S. Century would also sell its nonperforming loans, which totaled $95 million at March 31, to "unrelated third parties" for an undisclosed price.
May 1 -
The Kansas City company, which started with opening-day deposits of $1,100 in 1913, now has $15.7 billion in assets and a fresh formula that is allowing it to prosper with a conservative approach to credit.
May 1 -
Opus Bank in Irvine, Calif., has agreed to buy four branches from Zions Bancorp.'s (ZION) California subsidiary.
May 1
