Reciprocal deposits hot again, thanks to reg reform
With funding challenges becoming pervasive for community bankers, a provision inside of recently passed reg relief is prompting renewed enthusiasm for reciprocal deposits. [Continue]
Iowa banks will merge
Farmers Savings Bank in Victor and Keystone Savings Bank in Marengo will merge later this year. [Continue]
Michigan CUs join to form trust bank
Seven credit unions in Michigan have joined forces to create a limited-purpose trust bank, the first of its kind in the state, sparking objections from bankers. [Continue]
SEC document opens window into Klein/Old National deal
The June 21st announcement that Old National Bancorp had signed an agreement to purchase Klein Financial Inc., was more than eight months in the making. [Continue]
Wintrust acquiring American Enterprise Bank
The Rosemount, Ill.-based Wintrust will acquire substantially all of AEB’s loans, investment securities and customer deposits, as well as specified OREO properties, through its subsidiary Northbrook Bank & Trust Company, Northbrook, Ill. [Continue]
OCC will take fintech charters
The Office of the Comptroller of the Currency will accept applications for bank charters from fintech companies, effective immediately. [Continue]
NorthWest Indiana Bancorp to acquire Illinois bank
Munster-based NorthWest Indiana Bancorp will acquire AJS Bancorp, Inc., Midlothian, Ill., in a stock and cash transaction worth $34.6 million. [Continue]
Chemical relocates HQ to Detroit
Regional powerhouse Chemical Financial is relocating its headquarters within the state of Michigan, moving it to Detroit from Midland. [Continue]
Consumer credit card use reflects economic health
While credit card use saw a modest decline during the first quarter of 2018, card use across all risk tiers continues to rise in year-over-year comparisons. [Continue]
Washington state banks will merge
Walla Walla-based Banner Corporation has agreed to acquire Skagit Bancorp, Burlington, in an all-stock transaction worth $191 million. [Continue]