M&T Bank Corporation has signed an all-stock deal worth around $7.6 billion to acquire rival US bank holding company People’s United Financial. Headquartered in Bridgeport, Connecticut, People’s United Financial is the holding company of People’s United Bank. Established in 1842, People’s United Bank provides commercial and retail banking via more than 400 retail locations across […]
Union Bank of India (UBI) said that the IT integration of all erstwhile Andhra Bank’s branches have been wrapped up. It can be recalled that the IT integration of all the branches of erstwhile Corporation Bank with UBI was wrapped up in November 2020. Both Andhra Bank and Corporation Bank were merged with Union Bank […]
Lebanon-based Bank Audi sal has agreed to divest its Egyptian subsidiary – Bank Audi sae to UAE-based First Abu Dhabi Bank (FAB) for an undisclosed price. Bank Audi sae was launched following the acquisition of Cairo Far East Bank sae by Bank Audi sal in 2006. The Egyptian bank has 53 branches. Its Lebanese parent […]
PNC Financial Services Group has signed an all-cash deal worth $11.6 billion to acquire BBVA USA Bancshares, the US banking arm of Spanish banking giant BBVA. Based in Texas, BBVA USA Bancshares, through its subsidiary BBVA USA, holds $104 billion in assets. Through its 637 branches spread across Texas, Alabama, Arizona, Colorado, Florida, California, and […]
Pinnacle Bankshares, the holding company for First National Bank, has wrapped up its merger with Virginia Bank Bankshares, the holding company for Virginia Bank and Trust. According to Pinnacle Bankshares, the merger of Virginia Bank and Trust into First National Bank has also been completed, to create an enlarged community banking network in Central and […]
Equity Bancshares has acquired all the deposits and assets of Almena State Bank for an undisclosed price, in a move to expand its presence in Kansas. A purchase and assumption agreement was facilitated by the Federal Deposit Insurance Corporation (FDIC), said the Wichita-based holding company of Equity Bank. Equity Bank was selected by FDIC following […]
ChoiceOne Financial Services, the parent company of Michigan-based ChoiceOne Bank, has completed consolidation of its previously announced $20.88 million acquisition with Community Shores Bank. Following this, Community Shores Bank has now been renamed as ChoiceOne Bank. Kelly Potes – CEO of ChoiceOne said: “We are pleased to close our merger of ChoiceOne Bank and Community […]
First Citizens BancShares, the parent company of First-Citizens Bank & Trust, has signed a $2.2 billion deal to acquire CIT Group, the parent company of CIT Bank, in a move to create the 19th largest bank in the US on the basis of assets under management. While First Citizens BancShares is headquartered in Raleigh, North […]
Crédit Agricole Corporate & Investment Bank (Crédit Agricole CIB) has completed the sale of its remaining 4% stake in Banque Saudi Fransi (BSF) for SAR1.45 billion (€332m) to a couple of Saudi Arabian government-related institutional investors. The deal was closed after the French bank secured all the regulatory approvals. The two Saudi investors paid SAR30 […]
First Mid Bancshares, the parent company of First Mid Bank & Trust, has agreed to acquire LINCO Bancshares, the holding company for Missouri-based Providence Bank, in a cash-cum-stock deal worth around $144.9 million. Providence Bank is a state-chartered depository trust company with approximately $1.2 billion in assets. It offers community banking and is mainly involved […]