Hanover Bancorp, the parent company of Hanover Community Bank, has agreed to acquire New York City-based commercial bank Savoy Bank in a stock-cum-cash deal worth around $63 million. As per the terms of the deal, Savoy Bank will merge into Hanover Community Bank, thereby establishing a $1.6 billion asset bank that has a franchise footprint […]
360 Finance, a Chinese digital consumer finance platform, said that one of its affiliates 360 Group has secured approval from the China Banking and Insurance Regulatory Commission to wrap up its previously announced acquisition of a 30% stake in Kincheng Bank of Tianjin. The deal was announced in June 2020 and its financial terms have […]
US bank holding companies Enterprise Financial Services (EFSC) and Seacoast Commerce Banc (SCBH) have signed a $156 million worth deal to create a leading small business administration lender (SBA lender) in the country. As per the terms of the all-stock deal, Enterprise Financial Services will acquire Seacoast Commerce Banc for $15.8 per share. The combined […]
Bridge Bancorp, Dime Community merger : Bridge Bancorp has signed an all-stock merger deal worth about $489 million with rival New York State bank holding company Dime Community Bancshares. The merger deal is being taken up for establishing a premier community-based business bank with over $11 billion in assets under management, total deposits of over […]
Oppenheimer & Co. has reached an agreement to acquire San Francisco-based investment bank Brandis Tallman for an undisclosed price in a move to fast track growth of its public finance investment banking business. Brandis Tallman is engaged in providing bond underwriting and placement of municipal debt to public agencies in California. Since its induction in […]
The prevailing coronavirus pandemic has forced US bank holding companies Texas Capital Bancshares and Independent Bank Group to terminate their previously announced all-stock merger of equals worth $5.5 billion. Both the bank holding companies, which are based in Texas, have mutually scrapped the deal based on the significant impact of the pandemic on global markets […]
HSA Bank, a division of Webster Bank and Webster Financial, the holding company for Webster, has agreed to acquire the existing health savings accounts (HSAs) of State Farm Bank, a subsidiary of State Farm Mutual Automobile Insurance Company, a US property and casualty insurance provider. Financial terms of the deal were not disclosed. The acquisition […]
MVB Financial said that its fully-owned subsidiary MVB Bank has wrapped up the sale of its four banking centers located in the Eastern Panhandle of West Virginia to Summit Community Bank, a subsidiary of Summit Financial Group. Following the closing of the deal, MVB Bank has exited the West Virginia Eastern Panhandle market in a […]
Citizens Financial Services, the holding company for First Citizens Community Bank (FCCB), has wrapped up its previously announced acquisition of MidCoast Community Bancorp, the parent company for MidCoast Community Bank (MCB). First Citizens Community Bank is a Pennsylvania-chartered commercial bank, while MidCoast Community Bank is a Delaware-chartered commercial bank. As per the terms of the […]
Heartland BancCorp acquisition of Victory Bancorp : Heartland BancCorp has completed its $41.1 million acquisition of Kentucky-based bank holding company Victory Bancorp, a deal that was signed in December 2019. While Heartland BancCorp is the holding company of Heartland Bank, an Ohio state member bank, Victory Bancorp, is the owner of the Victory Community Bank, […]