It is hard to believe it is already the end of June. It has been a busy month. For those who may miss my daily Twitter posts, here’s a quick recap of the stories we’ve been following this week:
Mergers, Acquisitions – Expansion, Consolidation
- In Wisconsin: Capital, Pioneer credit unions celebrate merger http://post.cr/1qi09h9
- Denver-based Steele Street Bank & Trust will be acquired by MidFirst Bank of Oklahoma City http://bit.ly/1poBxDY
- Valley Green Bank acquired by Souderton, PA-based Univest http://bit.ly/1pRD8jB
- Former Blockbuster razed for 5,180 sq ft Midflorida Credit Union branch http://bit.ly/TvzZJL How long before that size branch is obsolete?
- Pair of Northern Michigan Credit Unions eye possible merger http://bit.ly/1sEqXKh
- NJ’s ConnectOne, Center Bancorp shareholders approve merger http://bit.ly/1yNeyEq
- MA’s Northampton Cooperative Bank and Greenfield Co-operative Bank to combine http://bit.ly/1nAsaLK
- State Bank to buy First Bank of Georgia for $82M; 2nd acquisition this year http://on-ajc.com/TsMEwT
- Navy Federal Credit Union sees growth in Washington state http://bit.ly/1jc8uvl
- Umpqua Bank to close 27 branches (13 in WA, 7 in CA, 7 in OR) following Sterling Savings Bank acquisition http://bit.ly/1iBo7kS
- Former Charter One branches open as U.S. Bank http://trib.in/1meIiF5 Transaction gives U.S. Bank 160+ branches in Chicago area
- Lexington, SC’s First Community Bank grows with deal with Spartanburg’s First South Bank http://bit.ly/1v12FGs
- New Jersey Manufacturers Insurance to sell banking arm to Spencer Savings http://bit.ly/1q49cSV
- In Montana, Park Side Credit Union and Gateway Community Federal Credit Union of Missoula are completing a merger http://bit.ly/1j5zc8R
- Goodbye teller lines: Community Choice Credit Union begins remodel of Royal Oak, MI member center http://bit.ly/1nwcFol
- Credit union members picks up pace in 1st Qtr, consolidation trend continues – via
@TheNCUA http://bit.ly/1syBWFk - Ft. Lauderdale, FL’s Valley Bank (same holding co. as IL bank) was also closed by regs on Fri., sold to Landmark Bank http://bit.ly/1nXMUPu
- Moline, IL’s Valley Bank was closed on Friday, branches reopen today as Great Southern Bank (based in MO) http://bit.ly/1lj3fhM
Marketing
- Missoula Federal Credit Union launches hyper local
@BuzzPoints rewards program http://bit.ly/1qNDkSF - Customer recounts year-long bureaucratic battle w/
@AchievaCU and@TheNCUA http://bit.ly/T53HEN How would you handle this negative press? - GTE Financial is preparing to open its first credit union office run entirely by college students. http://bit.ly/1m9RKVq
- “[Customers] move from ‘wow,this is innovative’ to ‘why don’t you have it.’” http://bit.ly/1syvHRS from
@AmerBanker 2014 Digital Summit - Bank of America expands rewards program for existing customers as bank struggles to boost overall revenue. http://reut.rs/1q0yaTh
Mobile
- America First Credit Union adds location-based offers, loans to mobile banking app http://on.wsj.com/1lPgFSh
- TD Bank survey shows Hispanic Millennials more comfortable than peers w/financial technology, mobile banking http://bit.ly/1pcFITm
Industry News
- Survey by
@AiteGroup shows some banks are heading to the Cloud — more are planning to http://onforb.es/Vt4gup via@Forbes - Pres/CEO of
@NAFCU challenges@ABABankingNews Pres/CEO Frank Keating’s “distortions about credit unions” http://bit.ly/1lRS4wa - Remember when “our moms & dads had to take cash out of the bank every week”…before the branch closed at 3 p.m.! http://huff.to/1lrzPy9
- Regulator urges caution by banks about riskier lending in pursuit of profits http://on.wsj.com/1plPFOs risk of indirect auto loans cited
- MA’s Workers’ Federal Credit Union boosts security using biometrics for its 240 employees at 15 branches http://bit.ly/UIWs6R
- Texas’ Green Bancorp, owner of Green Bank, files for IPO http://reut.rs/1wwy8mh
- NJ’s XCEL Credit Union & MI’s Michigan State Univ FCU take
@NAFCU 2014 Credit Union of the Year honors http://bit.ly/1mCdt9K - The
@FinancialBrand suggests 7 ways to navigate digital disruption in banking http://bit.ly/1nw76Gl
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That’s all for this week. If we missed an important story, drop me a note.
