There is a certifiable building boom in the Minneapolis-St. Paul housing market, especially on the multi-family side. In downtown Minneapolis alone, for instance, plans are afoot to add 1,400 apartments this year — double the amount of 2016 and 2017 combined. This is good news to investors in Bridgewater Bancshares, Inc., whose Bridgewater Bank unit thrives off real estate loans. [Continue]
UMB Financial Corp., based in Kansas City, Mo., has drawn new attention from Wall Street, with Merrill Lynch rating it a “Buy,” due in part to its efforts to create long-term value by gaining market share across geographies and its various business lines. [Continue]
What price the Durbin Amendment? Well, if you’re First Interstate BancSystem Inc., about $3.3 million per quarter from a reduction in payment services revenue. That calculation by the Billings, Mont.-based operator of First Interstate Bank comes as the impact of Durbin kicked in at the bank starting in July. [Continue]
Equity Bancshares, which operates the Equity Bank franchise from its base in Wichita, Kan., is a relatively young holding company, formed in 2002. Since then it has completed nearly 20 mergers and acquisitions, and sees little point in slowing down. [Continue]
Scott Cattanach moved up from his position as senior vice president and CFO at Peoples State Bank, Wausau, by showing the company’s leadership that he had a tailored plan to make the bank more robust. [Continue]
It’s been relatively quiet lately around First Busey Corp.’s headquarters in Champaign, Ill. – at least on the M&A front. And why not? The operator of the Busey Bank franchise has pulled off four acquisitions in the span of as many years, building it up to $7.8 billion in assets – triple its size from a decade ago. [Continue]
A lot of banking companies have used their savings from the 2017 federal tax overhaul to award cash bonuses to employees. Defiance, Ohio-based SB Financial Group, Inc., has put a bit of a twist on the sharing – by paying its 250 staffers to engage in philanthropic endeavors aimed at bettering the communities where they work and live. [Continue]
The stock market reacts to what lies ahead. In late 2016, after President-elect Donald Trump said he wanted to cut corporate taxes, share prices for banks shot up. By contrast, the subsequent passage of tax reform just as 2017 was winding down was greeted with yawns from investors. Bank stocks prices are not necessarily an outgrowth of performance. [Continue]
Commenting to a business magazine on the future plans of Byline Bancorp Inc., chairman Roberto Herencia said, “We have a management team that is capable of running a much larger and more complex organization.”
That was in June, right as Byline launched the first Chicago area public offering of a bank stock in 15 years. Fast forward five months and Herencia’s words translated to action with its announced deal to purchase First Evanston Bancorp, Inc., in a stock and cash transaction deal valued at $169 million. [Continue]
When Greg Steffens asked that he be allowed some extra time to respond to questions about operations at Southern Missouri Bancorp Inc., he wasn’t just trying to get a pesky journalist off the phone. He was, in fact, a very busy executive, tending to: [Continue]