M&A
The Southern California branches will be sold to HomeState Bank, a Seattle-based community bank. The Department of Justice required the sale as part of U.S. Bancorp's pending acquisition of MUFG Union Bank.
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The number of U.S. banks has dropped by two-thirds since the mid-1980s. Everyone expects this trend to continue for the foreseeable future. But at what point does M&A cool?
September 21 -
The Minneapolis bank extended its purchase agreement until the end of 2022, six months after the deal's original targeted closing date. Large-bank acquisitions have been drawing closer regulatory scrutiny during the Biden administration.
September 16
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The bank, which is seeking regulatory approval of its proposed First Horizon purchase, said that a quarter of the branches will be in majority-minority or low-to-moderate income neighborhoods. Progressive groups have argued that the $13.4 billion acquisition would harm low-income communities.
September 15 -
Allegiance Bancshares and CBTX received the final blessing they needed from the Fed to complete their proposed deal 10 months after it was announced. But regulators say the new company must take steps to attract more African American mortgage borrowers.
September 14 -
The purchase of College Raptor would provide the Rhode Island bank with tools that students and their families can use to compare financial-aid packages. Citizens is one of several U.S. banks with a sizable business in private student lending.
September 13 -
The Minneapolis-based buyer had previously said the deal would close earlier in the second half. Some of the financial benefits, which had been expected to be realized next year, won't come to fruition until 2024, executives said Monday.
September 12 -
The North Carolina bank's insurance subsidiary agreed to pay $3.4 billion to buy BankDirect Capital Finance. The sale reflects opposing strategies by the two companies.
September 6 -
The acquisition of Central Financial, expected to close in the first quarter of 2023, would create a bank with more than $10 billion of assets.
August 31 -
The Canadian bank, which reported its quarterly earnings Thursday, recorded $22 million in charges related to its acquisition of First Horizon. Executives say they still expect the deal to close no later than January.
August 25
