This has been a VERY busy week. 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
- OCC snag derails First National Bank of Southern California’s acquisition of First Mountain Bank http://bit.ly/Whzk08
- In Ohio, Citizens Bank of Ashville agrees to merger w/Vinton County National Bank http://bit.ly/1mnqB1A
Branch closures hit suburbs hardest – @SNLFinancial data on Chicago MSA http://t.co/1forVY5Q2Y via @ABABankingJourn pic.twitter.com/zSbRT0IaZd
— Jim Perry (@mi_jim) July 18, 2014
- PNC unveils new branch concept in Louisville, KY http://bit.ly/1p28tPq
- Investors Bank to open four new branches on Staten Island, NY http://bit.ly/1n0CDCx Didn’t they get the memo on the future of the branch?
- Birmingham, AL’s Cadence Bank to close 17 branches across 4 states this year http://bit.ly/1wDyN3y
- NY Research firm Sanford C. Bernstein & Co. says banks needs to chop, not prune, branch offices by 1/3 on average http://bit.ly/1lbscYQ
- Landmark Bank to close former Valley Bank branch in Ft. Lauderdale, FL http://bit.ly/1qk4otv
- Home BancShares completes acquisition of Florida Traditions Bank http://on.mktw.net/1tdsgfL
- Sierra Bancorp to acquire Santa Clara Valley Bank of Santa Paula, CA http://on.mktw.net/1p278It
- US Postal Service urged to move forward on banking proposal – due, in part, to increase in bank branch closures http://bit.ly/1lboEG6
- San Antonio, TX’s Vantage Bank to merge with D’Hanis State Bank http://bit.ly/1pd8CxQ
- In Montana, 8 Mountain West Bank branches to close after merger w/Billings-based First Interstate http://gftrib.com/1l7a56m
- Boston Private Bank to pay $60M for Florida investment adviser firm Banyan Partners http://bit.ly/1t7F6wd
- First Federal Bank of the Midwest has purchased former Champaign National Bank building for a loan production office http://bit.ly/1jxaeol
- WA’s @HomeStreetBank opens 2nd branch in Ballard http://bit.ly/W9UrkW
- United Bank to add 2 CT branches http://bit.ly/1tQHZ8N and close 4 branches http://bit.ly/1yqBXdT
- Farmers Bank of Magnolia makes deal to buy 1st Bank of Texarkana, Texas http://bit.ly/1oHtNXr
- Parchment, MI’s Advia Credit Union to merge with Southwest Michigan Federal Credit Union in Kalamazoo http://bit.ly/1l2NbNq
- TowneBank to acquire Richmond, VA’s Franklin Federal Savings Bank http://bit.ly/1qf6rzh
- Credit Union of Colorado builds $2M branch in Cañon City http://bit.ly/1sXLjuw bigger, more teller stations + drive through. but why?
- In North Carolina, New Century Bank and Select Bank receive approval to merge http://bit.ly/1qcaOLf
- Virginia Bankers Association and West Virginia Bankers Association to merge by year’s end. http://bit.ly/1p1HLF1
- Mississippi’s The First Bancshares completes BCB Holding, Bay Bank acquisition http://bit.ly/TNnb14
- Coalition of community groups opposes Banc of California acquisition of 20 Banco Popular branches http://on.mktw.net/1mdvhae
- First Bank Kansas completes acquisition of Bank of America locations http://bit.ly/U6LYgJ
- Sabadell United Bank closes acquisition of JGB Bank in South Florida http://onforb.es/1r0UJG5
- Solidarity Community Federal Credit Union completed its merger with Kokomo Post Office Credit Union http://bit.ly/U3SXqG
- In Kentucky, @TheNCUA closes IBEW Local 816 Federal Credit Union http://bit.ly/U3SJjk
- KY’s Cove Federal Credit Union split off from hospital system and is looking to acquire other institutions http://bit.ly/1raqC0A
- Super regional banks expected to step back into merger/acquisition market in next year http://bloom.bg/1m9UUJ2 via Thomas Michaud @KBWTrading
- PA’s Gratz Bank plans merger with First National in Minersville http://bit.ly/U3Nsbv
Marketing
- Facebook calculator drives auto loans for Chicago’s @AlliantCU http://bit.ly/1kCo6ZF approx $1M since Nov 2013
- “Expose the Truth” campaign by @spacecoastcu slams auto dealer rate markup; ad compares it to paying $50 for a taco http://bit.ly/1mQ9wT7
- Community-based branch names part of Community Bancshares’ local approach in Ohio http://bit.ly/1mQ55Yn
- How Millennials & digital-savvy consumers are pushing a huge shift in the retail banking industry http://read.bi/W9OBjE via @JRHEGGTECH
- The first rule for success (in real-time marketing for banks/CUs) is to ‘just do it.’ – @JimMarous & @FinancialBrand http://bit.ly/1siW3WK
- More on FirstBank’s mobile banking ad campaign http://bit.ly/1rkVc5q “so easy, even the Amish could figure it out…if they were allowed”
FirstBank enlists “Amish spokesman” for TV/online campaign to promote ease of mobile use http://t.co/j71EphyHZn & http://t.co/TAEMoPcIYY
— Jim Perry (@mi_jim) July 14, 2014
Mobile
- Snapchat may be planning a mobile payments service http://tnw.co/1ssaojH
- J.P. Morgan says mobile banking jumps 23% in 2nd Qtr http://on.mktw.net/1snqlYs
- This is how Australia’s @Westpac promotes its “tap and go” contactless mobile payments app http://bit.ly/1qD6rF0
- Spain’s BBVA has become the 1st major global bank to commercially launch a mobile contactless payments system http://bit.ly/1ju4iMV
- WA State Employees Credit Union’s mobile app approves loans w/6 taps http://bit.ly/1mbromn
- The @FinancialBrand‘s @JimMarous: Mobile banking customers are untapped sales opportunity http://bit.ly/U9jx28
Industry News
- Wells Fargo to eliminate 481 mortgage banking jobs nationwide; 468 of them from Homewood, AL mortgage division office http://bit.ly/1nSvcOB
- Bank of America has been on a hiring spree. Incoming class of junior bankers 40% larger than last year. http://nyti.ms/Wgv01u
- US House votes to allow marijuana-related banking http://abcn.ws/1pao11V
- So @TechCrunch cites @LendingClub‘s Renaud Laplanche as living proof you can make it in Silicon Valley after age 40 http://bit.ly/1tQEbEB
- Arkansas Federal Credit Union names new president/CEO http://bit.ly/1r3IV5Y
- Congress looking to rollback overly burdensome regulations on community banks http://bit.ly/1p7bZ9x
- US Banking Falling Behind P2P and B2B ‘Crowdfunded’ Banking http://bit.ly/1oDBjTl
- Good news/Bad News: Citigroup delivers good news to banking sector on the same day as $7B settlement announced http://onforb.es/1r0UJG5
- The @CFPB issues guidance on ensuring equal treatment for same-sex married couples re: lending rules, etc. http://bit.ly/1ozj6WN
- Bryan Yurkan, assoc. editor at @banktech, offers 3 non-bank payment players to watch http://ubm.io/1raJ0GN
- Banking has a dual-valve heart: taking deposits and making loans. And that heart is beating steadily at @WellsFargohttp://on.wsj.com/1qXJaQd
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That’s all for this week. If we missed an important story, drop me a note.
