Frandsen Bank & Trust plans to purchase a Duluth, Minn., branch from Alerus Financial, N.A. Richard Hoban, director of corporate development at the Arden Hills-Minn.-based Frandsen Financial, made the announcement Jan. 15. [Continue]
Citizens Finance Co. and Citizens Finance of Illinois Co., have completed the sale of their existing loan portfolios totaling approximately $70 million to American Credit Acceptance, LLC, Spartanburg, S.C. [Continue]
The government shutdown, now almost three weeks along, is costing the economy a lot of money — an estimated $6.5 billion dollars a week. More importantly, the shutdown will prove detrimental to first quarter GDP when its impact is linked to the effects of the ongoing trade war and the crisis unfolding overseas with Brexit. [Continue]
First Financial Corporation and HopFed Bancorp, Inc., announced that HFBC will merge into First Financial in a cash and stock deal worth $128.3 million. [Continue]
Johnson & Johnson Insurance will become part of Watford City, N.D.-based First International through its insurance subsidiary. [Continue]
Comptroller of the Currency Joseph Otting has been named acting director of the Federal Housing Finance Agency upon completion of current director Mel Watt’s term on Jan. 6. “I look forward to serving in this additional role until a permanent director is confirmed and appointed to this important position,” Otting said in a statement. This new role will be in addition to his current role at the OCC. [Continue]
Rosemount, Ill.-based Wintrust Financial Corp., acquired Elektra Holding Company, the parent company of Chicago Deferred Exchange Company, for $52 million. [Continue]
The office will provide full-service private banking, private business banking, real estate lending, wealth management, brokerage and trust services. [Continue]
Sparta, Mich.-based ChoiceOne Bank is continuing its footprint expansion with an additional branch office in Rockford, Mich. [Continue]
Associated Bank, N.A., announced Dec. 11 it has reached an agreement to acquire the Wisconsin branch banking operations of The Huntington National Bank, a subsidiary of Huntington Bancshares Incorporated. [Continue]