Commercial: Page 5
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Thread Bank CEO anticipates more ‘reasonable’ regulatory environment under Trump
The lender – hit with an FDIC consent order this year – has tried to ensure its house “can withstand the storm,” rather than simply “being mad at the weather,” CEO Chris Black said.
By Caitlin Mullen • Dec. 4, 2024 -
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ColumnDive Deposits: Wells Fargo turns its real estate right-sizing toward its own HQ
The bank appears to be consolidating its office footprint in San Francisco. Also reevaluating real estate: JPMorgan is expanding in Orlando, while Valley National is selling $925 million in loans.
By Dan Ennis • Dec. 4, 2024 -
Explore the Trendline➔
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TrendlineM&A
President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.
By Banking Dive staff -
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United Community Banks to deepen Miami-area footprint in $80M deal
The South Carolina-based lender will buy American National Bank in its sixth acquisition since 2018.
By Dan Ennis • Dec. 4, 2024 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
SEC settles ransomware case against ICBC unit
The agency opted not to impose a fine on the U.S. unit of China's largest bank, which had difficulty updating system books and records after a 2023 cyberattack.
By Rajashree Chakravarty • Dec. 3, 2024 -
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JPMorgan global investment banking chair to exit next year
Jennifer Nason, who’s been with the bank almost 40 years, will join the board of consulting firm Accenture after leaving JPMorgan in February.
By Caitlin Mullen • Dec. 3, 2024 -
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Fed approves United-Piedmont merger
The Federal Reserve cleared United Bank to proceed with its proposed $267 million acquisition of Piedmont Bancorp less than seven months after the deal was announced.
By Rajashree Chakravarty • Dec. 2, 2024 -
Spencer Platt / Staff via Getty Images
Citi separates Mexico retail ops from institutional business
The move sets up the bank to spin off Banamex in an IPO, as planned. The timing of that will depend on regulatory approval, but the bank has long targeted next year.
By Dan Ennis • Dec. 2, 2024 -
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JPMorgan drops suit against Tesla
The bank sued the Elon Musk-run company in 2021 for $162.2 million after it claimed the carmaker breached a 2014 contract related to stock warrants.
By Gabrielle Saulsbery • Dec. 2, 2024 -
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BPM spurns UniCredit’s takeover bid
The bank blasted what it sees as a weak premium. Its CEO warned a deal would cost BPM 6,000 jobs. And Italian officials expressed concern that a UniCredit tie-up would stall efforts to grow BPM.
By Dan Ennis • Nov. 27, 2024 -
Courtesy of U.S. Bank
U.S. Bank bets on capital markets boost
The super-regional is expanding its product set and angling for a more prominent position with its clients, the bank’s head of wealth, corporate, commercial and institutional banking said.
By Caitlin Mullen • Nov. 26, 2024 -
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HSBC sustainability chief to step down Dec. 31
The bank cut the sustainability role from its executive committee in an October reshuffle. HSBC on Monday also named an interim risk and compliance chief.
By Gabrielle Saulsbery • Nov. 25, 2024 -
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Italy’s UniCredit to buy domestic rival Banco BPM in €10.1B deal
The move pauses speculation that UniCredit was considering a bid for Germany’s Commerzbank. It also foils a plan by the Italian government to boost competition against UniCredit and its peer, Intesa Sanpaolo.
By Dan Ennis • Nov. 25, 2024 -
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First Foundation names new CEO
The Dallas-based bank tapped Thomas Shafer, an M&A veteran at TCF and Huntington, as its next chief, replacing Scott Kavanaugh, who retired.
By Rajashree Chakravarty • Nov. 25, 2024 -
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Old National to acquire Minnesota’s Bremer for $1.4B
The deal would expand $54 billion-asset Old National’s presence in the upper Midwest and make it the third-largest bank in the Twin Cities.
By Caitlin Mullen • Nov. 25, 2024 -
The image by Tyler Lahti is licensed under CC BY-SA 4.0
Truist pledges $725M in Helene aid
The bank committed to helping western North Carolina communities affected by the hurricane through capital, investments and philanthropic grants with a three-year initiative.
By Rajashree Chakravarty • Nov. 22, 2024 -
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FirstSun, HomeStreet terminate merger
The deal’s collapse frees HomeStreet to pursue another suitor or ease its CRE concentration. FirstSun and HomeStreet warned last month the already-revamped proposal would need further tweaks.
By Dan Ennis • Nov. 20, 2024 -
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Simmons First names next CEO, COO
George Makris will return as the $27 billion-asset Arkansas bank’s chief executive after a two-year gap. Meanwhile, the bank hired Christopher Van Steenberg, a First Horizon veteran, as chief operating officer.
By Rajashree Chakravarty • Nov. 14, 2024 -
Truist names next chief risk officer
Brad Bender, previously the bank’s interim chief information officer, will succeed 42-year veteran Clarke Starnes, effective immediately. Starnes will retire but stay on as a senior adviser through April.
By Dan Ennis • Nov. 14, 2024 -
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Wall Street bonuses expected to grow across all sectors, consultant finds
Investment banking debt underwriters could see a surge in annual payouts up to 35% due to revenues booming on debt issuance growth, a report published by Johnson Associates said.
By Rajashree Chakravarty • Nov. 12, 2024 -
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Michigan credit union’s deal for Florida bank extends M&A record
DFCU Financial’s third acquisition in the Sunshine State over the past two years marks the 20th whole-bank purchase by a credit union in 2024.
By Rajashree Chakravarty • Nov. 11, 2024 -
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Execs from 6 banks weigh in on impact of Trump’s election
Leaders at Citi, U.S. Bank, Fifth Third and more reflected on what the industry can likely expect — and what they’re hoping for — out of a second Trump presidency.
By Caitlin Mullen • Nov. 11, 2024 -
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ColumnDive Deposits: Morgan Stanley can’t keep everyone
The bank may have developed a reputation for persuading executives to stay. But its co-head of investment management just left to become CEO of an asset management unit at insurance giant Prudential.
By Dan Ennis • Nov. 11, 2024 -
Courtesy of PNC
PNC doubles branch expansion plans
Expanding upon branch growth plans announced earlier this year, the super regional aims to spend an additional $500 million to dig deeper in the Southeast and Southwest.
By Caitlin Mullen • Nov. 8, 2024 -
Gregory Zamell via Getty Images
Hawaii bank’s shareholders back acquisition by LA-based Hope
Territorial Bancorp reiterated its commitment to the Hope merger and urged its shareholders to vote in its favor after receiving a higher offer from an investor group.
By Rajashree Chakravarty • Nov. 7, 2024 -
Pgiam via Getty Images
FirstSun looks to alter HomeStreet deal again
The firms are “discussing the pursuit of an alternative regulatory structure” after FirstSun said talks with the Fed and a Texas agency indicated the deal may not get a green light.
By Dan Ennis • Oct. 31, 2024
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