Banks pulled in net income totaling $55.2 billion in fourth quarter 2019, a decline of $4.1 billion (6.9 percent) from a year ago. They made $233.1 billion in 2019 as a whole, down $3.6 billion (1.5 percent) from 2018. [Continue]
Randy Hultgren, a former U.S. representative, has been selected to succeed Linda Koch as president and CEO of the Illinois Bankers Association. He will start with the IBA on April 6, and will assume the role of president and CEO on July 1. [Continue]
Green Bay-based Nicolet Bankshares, Inc., is acquiring Commerce Financial Holdings, Inc., in a deal worth $130 million. [Continue]
Ericson State Bank in Ericson, Neb., was closed by the Nebraska Department of Banking and Finance. The $100 million bank is the first failure of the year. [Continue]
Dubuque, Iowa-based Heartland Financial USA, Inc., is acquiring AIM Bancshares, Inc., and its subsidiary AimBank, both of Lavelland, Texas, for $280.4 million. [Continue]
Mercantile Bank of Michigan, Grand Rapids, has its eyes on long term profitability, which has not diminished short term gains. [Continue]
After two acquisitions, First Midwest Bank, Chicago, closed the third quarter having generated a company record net income of $54.5 million. [Continue]
Wings Financial Credit Union has agreed to buy Neighborhood National Bank, Mora, Minn. [Continue]
Waterford Bancorp, Inc., Toledo, Ohio, acquired Clarkston Financial Corporation, Clarkston, Mich., holding company for Clarkston State Bank. [Continue]
Former Wells Fargo CEO John Stumpf can no longer work in the banking industry and must pay a $17.5 million fine for his role in the fake accounts scandal. [Continue]