HSBC Continental Europe (formerly HSBC France) will divest its French retail banking business to Cerberus Capital Management-controlled My Money Group for a nominal price of €1, leading to a pre-tax loss of around €1.9 billion. In this connection, the HSBC subsidiary has signed a memorandum of understanding (MOU) with Promontoria MMB SAS (My Money Group), […]
Liberty Bank and Trust Company has agreed to acquire Tri-State Bank of Memphis in an all-cash deal worth around $965 million in a move to foray into the Memphis, Tennessee market. Based in New Orleans, Louisiana, Liberty Bank and Trust Company is the holding company for Liberty Financial Services, which operates across 11 cities in […]
Dollar Mutual Bancorp has wrapped up its previously announced $156 million worth acquisition of rival Pennsylvania-based bank holding company Standard AVB Financial Corp. While Dollar Mutual Bancorp is the mutual holding company for Dollar Bank, Federal Savings Bank (Dollar Bank), Standard AVB Financial is the holding company for Standard Bank (formerly Standard Bank, PaSB). Jim […]
Glacier Bancorp, a Montana-based commercial banking company, has agreed to acquire Altabancorp, the holding company for Utah-based community bank Altabank for $933.5 million. Headquartered in American Fork, Altabank offers banking services to individuals and businesses across Utah and southern Idaho. It has 25 branches located from Preston, Idaho to St. George in Utah. As of […]
The PNC Financial Services Group has secured key regulatory approvals in the US needed for wrapping up the previously announced $11.6 billion acquisition of BBVA USA Bancshares. The approvals to the all-cash deal signed in November 2020 were granted by the Board of Governors of the Federal Reserve System and the Office of the Comptroller […]
New York Community Bancorp (NYCB) has signed an all-stock deal to acquire Michigan-based Flagstar Bancorp (FBC) for about $2.6 billion. Flagstar Bancorp is a $29.4 billion savings and loan holding firm that owns Flagstar Bank. The bank offers commercial, small business, and consumer banking services via 158 branches across Michigan, California, Indiana, Wisconsin, and Ohio. […]
Independent Bank Corp., the holding company of Rockland Trust Company, and Meridian Bancorp, the parent company of East Boston Savings Bank, have agreed to merge into an all-stock deal worth around $1.15 billion. Both the bank holding companies are based in Massachusetts. As per the terms of the deal, Meridian Bancorp’s shareholders will exchange each […]
Eastern Bankshares has agreed to acquire rival Boston-based bank holding company Century Bancorp in an all-cash deal worth $642 million. While Eastern Bankshares is the holding company for Eastern Bank, Century Bancorp is the holding company for Century Bank and Trust Company. The combination will create a $22 billion combined entity, which will strengthen tge […]
Banco Santander revealed intentions to make a cash offer of 24 Mexican pesos per share or €550 million to acquire the remaining 8.3% stake in its Mexican subsidiary Santander México. According to the Spanish banking group, the offer is attractive to both its shareholders and that of Santander México. The deal is also said to […]
Fidelity D & D Bancorp has agreed to acquire rival Pennsylvania-based bank holding company Landmark Bancorp in a cash-cum-stock deal worth $43.4 million. Landmark Bancorp is the holding company of Landmark Community Bank, a community bank based in Pittston. Landmark Community Bank offers commercial banking services via five bank centers in Luzerne and Lackawanna counties. […]