Banc of California, Inc. and PacWest Bancorp have entered into a definitive agreement to merge in an all-stock deal. Both boards unanimously approved the agreement, which will see PacWest Bancorp merge into Banc of California, with the resulting combined company operating under the Banc of California name and brand. PacWest Bancorp stockholders will receive 0.6569 […]
Oconee Federal Financial Corp., the holding company for Oconee Federal Savings and Loan Association, and its subsidiary Oconee Federal, MHC, have announced an agreement to merge with Mutual Savings Bank, a federally-chartered mutual savings bank. Upon the merger, Mutual Savings Bank will be absorbed by Oconee Federal Financial, resulting in an increase in the company’s […]
Republic Bancorp, the parent company of Republic Bank & Trust Company, has wrapped up the previously announced $51 million acquisition of CBank and its fully-owned subsidiary Commercial Industrial Finance (CIF), based in St. Louis, Missouri. The all-cash deal was announced in October 2022. Commercial Industrial Finance has now rebranded as Republic Bank Finance and has […]
United Community Banks, Inc. (NASDAQ: UCBI), based in Blairsville, Georgia, has finalized its $115.9 million acquisition of the bank holding company, First Miami Bancorp, creating a new industry milestone in all-stock deals. As part of the merger agreement, shareholders of First Miami Bancorp will receive 40.2685 shares of United Community Banks’ common stock for each […]
SVB Financial Group is set to sell its investment banking business, SVB Securities, to a management team led by CEO and founder Jeff Leerink, and backed by The Baupost, according to a definitive purchase agreement announced today. The transaction is anticipated to close after a scheduled court approval hearing on June 29, 2023. The sale […]
Mizuho Financial Group (MHFG), one of the largest financial institutions in Japan, has reached an agreement to acquire Greenhill, an investment banking and merger and acquisition (M&A) advisory firm based in the US, in a move to expedite its investment banking growth strategy. The deal, valued at approximately $550 million, including Greenhill’s debt, will be […]
Pennsylvania-based credit unions First Commonwealth Federal Credit Union (FCFCU) and Bellco Federal Credit Union have announced their intention to merge. The financial terms of the deal were not disclosed. When merged, the credit unions will operate as First Commonwealth Federal Credit Union. The enlarged bank holding company will have assets of over $1.3 billion and […]
TD Bank Group and US-based First Horizon Corporation have mutually agreed to scrap their previously announced $13.4 billion deal under which the Canadian banking group planned to acquire the latter. The deal has been terminated as TD Bank Group owing to regulatory uncertainty. TD Bank Group said that it has notified First Horizon that it […]
Bancorp 34 (BCTF), the holding company of Bank 34, and CBOA Financial, the holding company of Commerce Bank of Arizona, have signed a $28 million worth all-stock merger deal to create the second largest Arizona-based bank with assets of around $ 1 billion. As per the terms of the deal, CBOA Financial’s shareholders will exchange […]
Columbia Banking System, the parent company of Columbia Bank, and Umpqua Holdings Corporation, the holding company for Umpqua Bank, have closed their previously announced merger. The all-stock deal, which was announced by the American bank holding companies in October 2021, is aimed at creating one of the largest banks based on the US West Coast […]