Colorado CU buys bank
Elevations Credit Union in Boulder, Colo., has agreed to acquire the assets of the three-branch Cache Bank & Trust in Greeley, Colo. [Continue]
Community bank gains out-pace rest of industry; DIF premium credits earned
FDIC figures released Sept. 5 for the second quarter show earnings at the nation’s community banks surpassed year-ago numbers by 8.1 percent, a significantly greater gain than experienced across the entire industry. The nation’s 5,303 banks insured by the FDIC reported net income totaling $62.6 billion in the second quarter, an improvement of $2.5 billion … Read more
Bank Iowa buys in Colfax
West Des Moines-based Bank Iowa is buying First State Bank of Colfax, Iowa, later this year, bringing its total assets to $1.4 billion. [Continue]
First Midwest buying Park Bank in Milwaukee
In the latest of its moves beefing up its presence in the Milwaukee market, Chicago-based First Midwest Bancorp is buying Park Bank for $195 million. Founded in 1915, Park Bank is one of the largest independent commercial banks in Milwaukee with approximately $1 billion in assets, $815 million in deposits, of which approximately 85 percent are core deposits, and $700 million in loans. [Continue]
Central Bancshares buying Walcott bank
Central Bancshares in Muscatine, Iowa, has signed an agreement to acquire Walcott Trust and Savings Bank, based in Walcott, Iowa. [Continue]
Industry reacts to Volcker Rule revisions
Comptroller of the Currency Joseph Otting has signed a final rule amending the Volcker Rule to tailor and simplify the rule while, “maintaining protections core to the safety and soundness of the federal banking system,” a release from the agency read. [Continue]
Alerus to go public
North Dakota’s Alerus Financial plans to launch an IPO later this year, potentially raising $75 million based on the registration fee. [Continue]
New Carlisle Federal gets new location, new name
While New Carlisle Federal Savings Bank remains headquartered in the same town after 136 years, the Ohio bank decided it was time to freshen things up. On August 12, the New Carlisle-based bank broke ground for its fourth location, this one in Springfield, Ohio, a community of about 60,000 — its first branch in almost two decades. [Continue]
Heartland buys QCR’s Rockford Bank & Trust
Rockford-based Illinois Bank & Trust, a subsidiary of Iowa’s Heartland Financial USA, has agreed to acquire the assets and deposits of Rockford Bank & Trust, subsidiary of QCR Holdings, Moline, Ill., for $59.2 million. [Continue]
Mutual of Omaha bought by CIT Group
CIT Group’s banking subsidiary, CIT Bank, N.A., is acquiring Mutual of Omaha Bank for $1 billion, mostly in cash and up to $150 million of CIT common stock. [Continue]