As I write this, our CEO Joe Sullivan is getting ready to travel to Belfast, Ireland for this year’s World Council of Credit Union annual conference. Make sure to follow conference news next week on Twitter using the hashtag #CUinBelfast2016. In the meantime, here is this week’s wrap-up on mergers, #fintech, marketing, etc.:
Trending
JPMorgan’s Jamie Dimon: #Fintech’s Got Nothing on Us https://t.co/emZ6jiLwhk Dimon touts P2P service w/other big banks through @clearXchange
— Jim Perry (@mi_jim) July 15, 2016
Mergers, Acquisition – Expansion, Consolidation
- In Amarillo, TX, Herring Bank branch opens in revived historic funeral chapel http://bit.ly/29XQDfy that’s what I call adaptive reuse!
- Springfield, MO’s OakStar Bank pens merger with Bank of Urbana http://bit.ly/29XQoRL
- KS’ Equity Bancshares to merge with Community First Bancshares, adding 5 Arkansas branches to Equity Bank network http://bit.ly/29zV4j7
- Follow up: Talmer shareholders approve @ChemicalBankmerger http://detne.ws/29BkwRp
- According to @SNLFinancial, credit unions continue to branch out, adding 29 branches in the second quarter of 2016.
- New Castle, IN-based Citizens State Bank opening new branch in Fishers, IN http://bit.ly/29QYTj4
- WI’s North Shore Bank to build branch in Shorewood, consolidate two offices http://bit.ly/29GWczG
- MA’s Marlborough Savings Bank and North Middlesex Savings Bank to merge, creating a nearly $1B+ mutual savings bank http://bit.ly/29SqVwo
- Thirteen @FirstMerit Corp. and @Huntington_Bank branches in Northeast Ohio will be divested as part of merger http://bit.ly/29GTuKD
- NJ’s Ocean City Home Bank being acquired in $146M deal by OceanFirst, which just acquired Cape Bank in May http://bit.ly/29AJNue
- The @federalreserve approves @keybank acquisition of @firstniagara Bank http://on.wsj.com/29D9lrd
- Royal Credit Union strikes another Twin Cities bank deal http://bit.ly/29Mqi4o
- @keybank to close 30 local bank branches as part of @firstniagara deal http://bit.ly/29MmtfK
- Bank acquisition in Florida blocked by shareholder vote http://bit.ly/29ToxVJ
- Tacoma, WA-based Commencement Bank and Olympia-based Thurston First Bank to merge http://bit.ly/29IQyfK
- Cathay Bank to buy fellow Chinese-focused lender Far East National http://lat.ms/29HH0oJ
- In Baltimore, Bay Bank finalizes its acquisition of Hopkins Federal Savings Bank http://yhoo.it/29xHMzy
- Rosemont, IL-based @Wintrust to buy Elgin’s First Community Financial in $30.3 million deal http://trib.in/29sQ7FJ
Marketing & Branding
Ouch! @SantanderBankUS will pay a $10M fine for deceptively marketing overdraft protection on debit cards https://t.co/b7JZsSHVZ6
— Jim Perry (@mi_jim) July 15, 2016
- The First National Bank of Central Texas deploys “cash mob” initiative to support local small businesses http://bit.ly/29Vy92z
- What to ask about your #marketing strategy before you ask about #millennials http://bit.ly/29UVZsn | via @MediaPost
- Piedmont Advantage Credit Union is abandoning its third-party broker-dealer for CUSO Financial Services http://bit.ly/29V1pDB
- Ready for the Longevity Economy? “driven by our seemingly unquenchable desire for new technology” http://bit.ly/29CHv3q #babyboomers
- Madison, WI’s NBC15 and Summit Credit Union kick off Project Money 2016 http://bit.ly/29LmraN
- Central Pacific Bank launched a new online banking program specifically designed for small businesses. http://bit.ly/29LhWgu
- The @FinancialBrand‘s Jeffry Pilcher asks “Can banks and credit unions keep up with today’s uncompromising consumer?”http://bit.ly/29xSbuX
Fintech, Digital & Mobile
2 senior leaders of JPMorgan’s blockchain project have left to found their own blockchain startup https://t.co/KrY3qBvF6K | via @iankar_
— Jim Perry (@mi_jim) July 14, 2016
- Finding inspiration for banking’s future from…Spotify? @pymnts speaks w/@number26 CEO about building a better bank. http://bit.ly/29OVHWI
- #FinTech Is Weaving Charitable Giving into Everyday Transactions http://bit.ly/29rZ6dh
- Only 4 more days until London #Fintech Week 2016 w/@cgledhill @LarsMarkull @FintechLuis @sytaylor @mpswardle et.al. https://fintechweek.com
- Latest round of senior #fintech appointments sees @finstarfinance prepare for boosting investment activity http://yhoo.it/29BpMIe
- As if we have to keep making this argument: Here’s why banks must offer mobile banking http://read.bi/2a1OcId | @businessinsider
- Here’s @howardhyu‘s thoughts on “What Wall Street’s Obsession With Blockchain Means for the Future of Banking” http://for.tn/29Ixdfa
Industry News
.@ABABankers CEO Rob Nichols (@BankersPrez) brings message of #fintech innovation, partnership to Capitol Hill https://t.co/MdbUIvGYqU
— Jim Perry (@mi_jim) July 13, 2016
- Lisa G. Frederick has been appointed president of retail banking and sales at MO’s @RelianceBankStl http://bit.ly/29BjPrs
- A high-stakes conflict is brewing between Italy and the European Union over the rules for bailing out banks http://on.wsj.com/29AUXjE
- President nominates John Herrera, SVP for Hispanic & Latino affairs; NC’s Self-Help Credit Union, to @TheNCUAboard http://bit.ly/29xOpWE
- JP Morgan @Chase is hiring, even as it continues to close branches http://cnb.cx/29G4kzg
- Congressional report suggest possible hack of @FDICgovby Chinese gov’t was covered up by agency employees http://reut.rs/29HD4mE
- JP Morgan @Chase eased banking fears by saying it managed to grow its profit in the second quarter. http://bit.ly/29FrdXC
- Heritage Federal Credit Union chosen as Credit Union of the Year by @NAFCU http://bit.ly/29WPpEn
- Credit Unions Take Minimum Wage Hike Lead http://bit.ly/29OXuex | via @CookeonCUs
- Check out “Banking on Social Innovation: An Interview with Caroline Anstey, Global Head of UBS” in @Forbeshttp://bit.ly/29P7JfY
- Jamie Dimon is giving JP Morgan @Chase employees a Big Raise http://for.tn/29AHhVv
- Entrepreneurship Drives Credit Union Tech Innovation http://bit.ly/29BlRZm | via @CookeonCUs
- Delaware Credit Union League approves merger with the Cooperative Credit Union Association http://bit.ly/29CF8LQ
- MI credit union execs see room for growth in commercial lending. Roundtable w/@LMCU, @MichCULeague, @AdviaCU, @ECCU1 http://bit.ly/29uTRoj
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!