Strategic planning

The Toronto-based bank has promoted Kevin Li to take over as head of its American operations. He will succeed Shawn Beber, who is retiring.

As regional bank consolidation heats up, Comerica, First Horizon and Banc of California are among the institutions that analysts see as the most likely targets for takeovers.

Jay Brogdon, currently president of the Arkansas bank, will take the helm at the beginning of next year.

First Foundation is in transformation mode, after a capital infusion and new management gave it some power to remix its challenged balance sheet. But the bank just took its third quarterly loss out of the last four quarters.

The San Antonio-based company plans to remain in state borders, but sees opportunity for growth in major markets.

Flagstar Bank wants to merge its holding company into the bank, which would cut $15 million in annual expenses and eliminate regulatory oversight by the Federal Reserve, leaving the OCC as its primary regulator. The bank's CEO, Joseph Otting, is a former comptroller of the currency.

The megabank announced it would invest $16 million to grow its footprint in the North Carolina banking mecca.

Some banks hope to use M&A as a way to play defense, either because they need to shore up their deposits or because they have aging CEOs and are looking for an exit. But investors aren't wild about the deal math.

The transaction comes as the megabank is determined to simplify its operating model and shed units that have slower growth prospects or aren't core to its business.