As everyone gets ready for the July 4th weekend, here is this week’s wrap-up:
Trending
More U.S. Adults Who Break Up With Banks Go Online-Only or to Nonbanks https://t.co/fDPMaQy06B
— Jim Perry (@mi_jim) June 30, 2016
Mergers, Acquisition – Expansion, Consolidation
- Ft. Wayne, IN-based 3Rivers Federal Credit Union to open new branch http://bit.ly/29l6VPI
- Ohio Catholic Federal Credit Union welcomes St. Paul’s Parish Federal Credit Union members into their organization http://prn.to/298gfoC
- ME’s Evergreen Credit Union plans new ‘green’ building http://bit.ly/29l6DZ7
- Congrats to Don Scott and team at @ExtracoBanks on opening of their new branch in Killeen, TX http://bit.ly/295eSpk
- MA’s Marlborough Savings Bank hosts grand opening reception for new branch http://bit.ly/29sDBpl
- The @federalreserve approves Bank of the Ozarks acquisitions of GA’s Community & Southern Bank and FL’s C1 Financial http://bit.ly/29hxKo1
- Lloyds to axe 640 jobs, shutter 23 branches in cost-cutting drive http://reut.rs/292rh24
- Itasca, IL-based First Midwest Bank to acquire Standard Bank and Trust for $365M http://trib.in/29307DZ
- Just In: One of Canada’s biggest banks, @cibc, is buying Chicago’s PrivateBancorp http://for.tn/292xTxL
- MI’s @ConsumersCU opens another location deploying latest tech (and the staff that knows how to help members use it) http://bit.ly/297kBOW
- American Canyon, CA’s @umpquabank branch to close; part of 26 branch consolidation http://bit.ly/28ZQiWV
- Capital One will close five of its six branches along the NJ Shore http://on.app.com/294yD6H
- MI’s @ChemicalBank to build $1.7M branch at former gas station property in Kalamazoo http://bit.ly/28ZOv3X
- Analysts at @Bidnessetc say #Brexit fails to deter M&A activity in US banking sector http://bit.ly/29bH2EK
- UNIFY Financial Credit Union and Eagle Credit Union announce merger approval http://bit.ly/292UTO9
- Mutuals to merge: Pittsburg, PA-based Dollar Bank to merge with Virginia-based Bank “@”lantec. http://bit.ly/293VWMb
- MI’s Adventure Credit Union opens its 10th office; promotes new name and branch features http://bit.ly/29bmvgR
- SD’s American Bank & Trust adds branches, offices http://bit.ly/2905cN5
- VA’s Union Bank & Trust to close five branches inside Martin’s Food Markets http://bit.ly/290Ctc6
- First Tennessee Bank to significantly expand restaurant franchise business with acquisition of loans from GE Capital http://bit.ly/2954x1X
- In Kansas, Farmers and Drovers Bank and Alta Vista State Bank announce agreement to merge http://bit.ly/2904H5M
- MA’s Berkshire Hills Bancorp to acquire NJ’s First Choice Bank; gaining access to Philadelphia market http://bit.ly/297nfou
- VA’s TowneBank completes merger w/Monarch Financial Holdings, Inc. http://bit.ly/28XA7JJ
- Suffolk County National Bank being acquired by People’s United Bank http://bit.ly/2903pYF
- The merger between Western States Bank, Valley Bank and Trust Co. and Wyoming State Bank is complete http://noconow.co/28Yfhx1
- MI’s Commercial Bank plans $14M acquisition of Mason State Bank http://bit.ly/2986l82
- Northwest Bank at work to acquire 18 @firstniagara offices http://bit.ly/294E1ED
- While I was away, @TCBSprig completed the acquisition of Fairview Heights branch of Centrue Bank http://bit.ly/28XYlno
- Bank of Sierra completed its acquisition of Coast Bancorp, the holding company of Coast National Bank http://bit.ly/290xb3A
Marketing & Branding
#Millennials, right? What about #GenZ? @mi_sullivan on connecting w/America’s next greatest generation. https://t.co/95YKcPXZ3R #BankSocial
— Jim Perry (@mi_jim) June 29, 2016
- Credit One Bank matches donations from #NASCAR fans for Vets http://bit.ly/295kxeU
- 79% of consumers consider relationship w/their bank to be purely transactional http://for.tn/296AYec | @ShenLucinda for @FortuneMagazine
- ICYMI: @Adage says Durbin amendment triggered @cardlytics, gave banks a reason to cozy up to merchant rewards http://bit.ly/292s43e
- Banking Apps Are So Last Year…Chat To Your Bank Through @facebook Messenger http://bit.ly/29bGxe6 | @Tomgroenfeldt for @Forbes #NewTech
- Shout out to Lorna Cote, new marketing director at Freeport, IL’s Cornerstone Credit Union http://bit.ly/297qfB8
- While in the UK last week, I noticed @AskHalifaxBank‘s new ad campaign w/the Flintstones http://bit.ly/2936fjp
- Don’t miss @BryanYurcan‘s take on how to close the deal with #Millennials: Don’t Waste Their Time http://bit.ly/294lRCw | @AmerBanker
- Boston’s @RadiusBank is offering a debit card that directs 1% of all purchases toward paying down college debt http://bit.ly/28RNUCn
Fintech, Digital & Mobile
Banking startups say they still plan to invest in Britain despite #Brexit https://t.co/uoPH3XCvxa
— Jim Perry (@mi_jim) July 1, 2016
- Chris Higson w/@LBS asks “Will #Fintech Make the World a Better Place?” in @Forbes. http://bit.ly/297eWp5 What do you think?
- Do you need a bot to talk to your bank? http://bit.ly/29knb2c | @backlon for The @verge
- From @JohnMannes at @TechCrunch: @MoneyLion brings traditional banking ever closer to obsolescence http://tcrn.ch/29r1bmq
- #Fintech startup @unitedincome (by @hellowallet founder & former @MorningstarInc CIO) to help Boomers w/retirement http://bit.ly/29bMHLi
- Looks like China’s central bank chief just rained on Alibaba’s banking parade http://bloom.bg/297pxUI | @tculpan, @nishagopalanhk for @Bfly
- Small business banking technology firm @D3Banking secures $10M from West Partners http://bit.ly/28XzBeK
- In the UK, @Barclays upgrades its Android app to make £100 contactless payments http://bbc.in/2989AfD
- Former @MichiganFirstCU employee creates Bankjoy app for credit unions http://on.freep.com/28YghkE
- #Brexit leaves Europe’s #fintech firms in the lurch. http://on.wsj.com/291GrmW | @telisdemos for @WSJ
- Sr. Editor @stephengandel looks at how @Citi is embracing the #fintech revolution for @FortuneMagazine http://for.tn/28XZWd6
Industry News
Nearly all U.S. banks pass @federalreserve’s stress test https://t.co/TxqLRLaDe2 @MorganStanley did not pass unconditionally.
— Jim Perry (@mi_jim) July 1, 2016
- .@NavyFederal on @FortuneMagazine‘s top 100 places for #Millennials to work; millennials are 45% of their workforce http://for.tn/2985pjk
- At #CUNAACUC in Seattle, @CUNA unveils CU Ledger Initiative to create blockchain platform for credit unions http://bit.ly/29sEgan
- Lending to small businesses down by 63% in UK towns and villages where a bank branch was shuttered. http://bit.ly/297P4NJ
- Report from @CallahanAssoc: credit unions are better capitalized, have fewer delinquencies than banks http://bit.ly/297jHC5 | @CookeonCUs
- Scott Sanborn named as new @LendingClub CEO; online lender plans to cut 179 positions as loan originations decline http://reut.rs/291K3rF
- Some of the biggest names in British banking suffered double-digit declines in their stock prices on Monday http://nyti.ms/297QtVG
- Updates to a Michigan law now allow credit unions to offer new services while streamlining their regulatory burden http://bit.ly/28X3sVu
- European banks bleed 22% after Brexit http://on.ft.com/291Rheq
- OH’s @Huntington_Bank restructures bank leadership following @FirstMerit acquisition http://bit.ly/28YeE6t
- Italy may inject $44B in capital into some lenders after #Brexit sparked a selloff among banks http://bloom.bg/291NE8j
- Back from UK &, like many of you, trying to sort out how #Brexit will affect banking. Here’s @Chris_Skinner‘s take: http://cnb.cx/2947Uqv
- How Will ‘Brexit’ Affect London’s Status As A Global Financial Center? http://n.pr/28WWEXL | @JimZarroli for @MorningEdition
That’s all for this week. Please share this with your colleagues. If we missed an important story, drop me a note. Thanks for following!