Enterprise to acquire First Choice
St. Louis, Mo.-based Enterprise Financial Services Corp will acquire First Choice Bancorp, Cerritos, Calif., in an all-stock deal worth $397.7 million. [Continue]
Movable micro-branch offers location flexibility
Though the term “mobile branch” likely calls to mind a bank’s smartphone app, Minneapolis-based Vanman Architects puts a new spin on the term with its movable “micro-branch.” The micro-branch is a “somewhat mobile” banking unit designed for high-traffic sites, such as the parking lot of a grocery or big-box store. [Continue]
April RMI holds steady
Despite a slight decline, the Rural Mainstreet Index posted a healthy 69.0 in April, up from March’s 71.9, and still well above growth neutral. This is the fifth straight month of economic growth in the survey of rural bank CEOs from the central ag- and energy-dependent states. Just over a third of respondents said their local economies had expanded between April and March. [Continue]
Heartland Financial rebrands
Heartland Financial USA is rebranding as HTLF, the same letters as its stock ticker symbol, complete with new logo, tagline and value proposition. [Continue]
Kansas-based bank serves Missouri’s nascent cannabis industry
Kansas has historically been tough with legal cannabis penalties, and remains one of three states in the country without a legalized variety. Sale or production of cannabis means a possibile 17-year prison sentence and a half-million dollar fine. As of July 2019, Kansas residents are legally permitted to bring back low THC level cannabis oils from states where it’s legal and administer it. [Continue]
Nicolet buying Mackinac Financial
Green Bay, Wis.-based Nicolet Bankshares is acquiring Mackinac Financial Corporation and its subsidiary mBank, both based in Manistique, Mich., for $248 million. The combined company will have $6.1 billion in assets, $5.2 billion in deposits and $3.9 billion in loans, with Mackinac making up about a quarter of those assets. [Continue]
Community banker economic optimism rebounds
Community bankers economic outlook has largely returned to prepandemic levels, according to a survey from the Conference of State Bank Supervisors. [Continue]
FNB Waterloo adds Swansea office
Illinois-based First National Bank of Waterloo is adding a full-service branch in Swansea, Ill., later this year. [Continue]
CFPB proposes foreclosure ban
The Consumer Financial Protection Bureau wants to ban foreclosures until 2022, according to a recent proposal. [Continue]
TS Banking Group adds financial planning firm
Treynor, Iowa-based TS Banking Group is acquiring Callahan Financial Planning, roughly doubling its assets under management. [Continue]