1Q small business conditions hold steady
Small business lending conditions were generally stable in the first quarter of 2018, according to the Federal Reserve’s Small Business Lending Survey. [Continue]
Deal pushes Wisconsin’s Citizens Community past $1 billion
Eau Claire-based Citizens Community Bancorp, Inc., signed a deal to acquire United Bank from United Bancorporation, both based in Osseo, Wis., for $50.7 million in cash. [Continue]
Oregon CU makes bank buy
Bend, Ore.-based High Desert Bank has been acquired by Mid Oregon Credit Union, also based in Bend. High Desert Bank, which had struggled through the recession, had one office, $21 million in assets and $23 million in deposits. It was founded in 2007. [Continue]
KleinBank will be bought by Indiana’s Old National
Evansville, Ind.-based Old National Bancorp is beefing up its presence in the Twin Cities with its purchase of Minnesota’s KleinBank, for about $434 million in an all-stock transaction. [Continue]
Local group to purchase MidCountry Bank
MidCountry Financial Corp., a savings and loan holding company based in Macon, Ga., announced June 13 it entered into a definitive agreement to sell its Minnesota-based subsidiary, MidCountry Bank, to MidCountry Acquisition Corp., a corporation organized by Minnesota investors to acquire the bank. [Continue]
BOK Financial and CoBiz will merge
Oklahoma’s BOK Financial Corp., will acquire Denver’s CoBiz Fianancial for $1 billion later this year, expanding its presence in Colorado and Arizona. [Continue]
Ruoff Financial getting into banking
Indiana’s Ruoff Financial, a mortgage company, is getting into banking with an announced acquisition of SBB Bancshares Inc., Burnettsville, Ind. After the deal closes in the fourth quarter, SBB subsidiary State Bank of Burnettsville will be renamed and operate as Ruoff Bank. [Continue]
Trump nominates OMB’s Kraninger to lead CFPB
President Donald Trump nominated an Office of Management and Budget staffer to replace Mick Mulvaney as head of the Consumer Financial Protection Bureau on June 18. [Continue]
United will acquire Powhatan Point
Ohio’s United Bancorp has signed a deal to buy Powhatan Point Community Bancshares, Inc., in a stock and cash transaction worth just under $7 million. Upon completion, Powhatan Point’s subsidiary First National Bank of Powhatan Point, Ohio, will be merged into United’s subsidiary Unified Bank. [Continue]
Indiana bank makes Illinois acquisition
Carmel, Ind.-based Merchants Bancorp will acquire FM Bancorp and its subsidiary, Farmers-Merchants National Bank of Paxton, Ill., later this year. As of March 31, FM Bancorp had total assets of $114.6 million, which included gross loans of $33.6 million and deposits of $99.3 million. [Continue]