Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings (Eurobank Holdings), has agreed to acquire a 13.41% stake in Hellenic Bank Public Company, a Cyprus-based bank, from Wargaming Group for €70 million. The deal increases the stake of Eurobank in Hellenic Bank to 26%. It is said to be in line with Eurobank’s broader […]
U.S. Bancorp has wrapped up the previously announced $8 billion acquisition of the core regional banking franchise of MUFG Union Bank from Mitsubishi UFJ Financial Group. As per the terms of the deal announced in September 2021, Mitsubishi UFJ Financial Group will hold a stake of around 2.9% in U.S. Bancorp. U.S. Bancorp said that […]
HSBC Holdings, through its wholly-owned subsidiary HSBC Overseas Holdings (UK), has agreed to sell HSBC Canada to the Royal Bank of Canada (RBC) for a cash consideration of CAD13.5 billion ($10.1 billion). Under the agreement, RBC will acquire 100% of the issued common equity of HSBC Canada, apart from all the preferred shares and the […]
Virginia-based First Community Bankshares has agreed to acquire Surrey Bancorp, a bank holding company in North Carolina and its banking subsidiary, Surrey Bank & Trust in a deal worth around $113.2 million. First Community Bankshares is the bank holding company for First Community Bank, which has 48 branches in Virginia, North Carolina, West Virginia, and […]
Seattle-based Washington Federal, the holding company for Washington Federal Bank, has agreed to acquire California-based Luther Burbank and its fully-owned subsidiary, Luther Burbank Savings, in an all-stock deal valued at around $654 million. The transaction is expected to expand Washington Federal’s franchise into California. The combined entity will have total assets of around $29 billion, […]
US-based Republic Bancorp, the holding company of Republic Bank & Trust (Republic Bank), has agreed to acquire CBank and its fully-owned subsidiary Commercial Industrial Finance (CIF) in an all-cash direct merger deal valued at approximately $51 million. Headquartered in St. Louis, Missouri, Commercial Industrial Finance offers equipment leasing and financing to businesses across the US. […]
HV Bancorp (HVBC), the holding company for Huntingdon Valley Bank (HVB), will merge with rival US bank holding company Citizens Financial Services (CZFS), the owner of First Citizens Community Bank (FCCB), in a deal worth around $67.4 million. The merger is expected to boost and increase the footprint of Citizens Financial Services in communities situated […]
Seacoast Banking Corporation of Florida has completed the $304 million acquisition of the parent companies of Apollo Bank and Drummond Community Bank. The transaction, which is effective from 7 October 2022, includes the acquisition of the banks’ respective parent companies Apollo Bancshares and Drummond Banking Company. Apollo Bancshares’ shareholders were given 1.006529 shares of Seacoast […]
Louisiana-based Home Federal Bancorp, the holding company of Home Federal Bank, has signed an agreement to acquire Northwest Bancshares, the holding company of the First National Bank of Benton (First National) in an all-cash deal worth around $10.1 million. Currently, First National Bank of Benton operates out of one banking location in Benton, Louisiana. Northwest […]
Toronto-Dominion Bank (TD Bank Group) has agreed to acquire Cowen Inc., a publicly-listed American investment banking company, in an all-cash deal worth $1.3 billion or $39 per share. The deal enables the Canadian banking group to grow its investment banking business and capabilities in the US. Bharat Masrani — TD Bank Group President and CEO […]