Strategic Insights into Banking & Fintech

Huntington to buy Veritex in Dallas for $1.9 billion

Huntington to buy Veritex in Dallas for $1.9 billion

Huntington Bancshares in Columbus, Ohio, has agreed to buy  Veritex Holdings in Dallas. The $210 billion-asset Huntington said in a press release that it will pay $1.9 billion in stock for the $13 billion-asset Veritex. The deal, which is expected to close in the fourth quarter, priced Veritex at 152% of its tangible book value. Veritex has $9 billion in loans and $11 billion in deposits. “This combination supports our

July 14, 2025
Civista in Ohio to buy Farmers Savings, raise $70M in stock offering

Civista in Ohio to buy Farmers Savings, raise $70M in stock offering

Civista Bancshares in Sandusky, Ohio, has agreed to buy Farmers Savings Bank in Spencer, Ohio. The $4.1 billion-asset Civista said in a press release that it will pay $56 million in cash and stock for the $285 million-asset Farmers. The deal is expected to close in the fourth quarter. Civista will also raise $70 million by selling common stock in a public offering. Piper Sandler is serving as the book-running

July 11, 2025
First State Bank in Texas completes sale-leaseback of seven properties

First State Bank in Texas completes sale-leaseback of seven properties

First State Bank in Gainseville, Texas., entered into a sale-leaseback transaction for half of its properties. The $1.8 billion-asset bank agreed to sell seven locations to MountainSeed Real Estate Services in Atlanta for about $32 million. First State entered into a 15-year lease with renewal options. The transaction "enabled First State ... to unlock substantial equity from our long-term real estate holdings," Brian McCain, the bank's chief financial officer, said

July 10, 2025
Wise US to pay $4M penalty to address AML deficiencies

Wise US to pay $4M penalty to address AML deficiencies

Wise US will pay a $4.2 million penalty to resolve a dispute with six state financial regulators. The unit of U.K. company Wise PLC also agreed to address deficiencies in its anti-money laundering program as part of the settlement with regulators from California, Massachusetts, Minnesota, Nebraska, New York, and Texas. Wise will conduct a lookback for previously closed accounts, enhance its reporting procedures for suspicious activity, strengthen its due diligence

July 10, 2025
First Northwest in Washington appoints interim CEO

First Northwest in Washington appoints interim CEO

First Northwest Bancorp in Port Angeles, Wash., has made a change at the top. The $2.2 billion-asset company said in a press release that Matthew Deines had resigned as president and CEO and stepped down from its board. Geraldine Bullard, the company's chief operating officer, was named interim CEO. “As we begin the executive search for Matt’s replacement, we have full confidence in Geri to lead the organization during this

July 9, 2025
Webster Five in Massachusetts selects insider as new CEO

Webster Five in Massachusetts selects insider as new CEO

Webster Five in Auburn, Mass., has a new leader. The $1 billion-asset bank said in a LinkedIn post that Brian Westerlind had become its president and CEO. Westerlind, who was the bank's chief financial officer, succeeded Don Doyle, who retired. “Webster Five is ... a vital part of the communities we serve, a committed partner to local businesses, and a trusted financial resource for our customers and the broader community,"

July 9, 2025
Capital One to shut down Discover home equity lending business

Capital One to shut down Discover home equity lending business

Capital One Financial in McLean, Va., is shutting down Discover’s home equity lending business. A notification at the top of the Discover Home Loans website states that the business "is no longer accepting applications for new home equity or mortgage refinance loans, although we will continue to process applications that are in progress.” The message directs people with pending applications or current loans to a page with contact information. Capital

July 9, 2025
Waypoint in Nebraska to buy branch from Astra Bank in Kansas

Waypoint in Nebraska to buy branch from Astra Bank in Kansas

Waypoint Bank in Cozad, Neb., has agreed to buy a branch in Sutton, Neb., from Astra Bank in Scandia, Kan. The $373 million-asset Waypoint said in a press release that it expects to buy the branch later this summer. The price wasn't disclosed. “We’re excited to welcome Sutton into the Waypoint Bank family,” Tim Sladek, the bank's chairman, president, and CEO, said in the release. “This expansion strengthens our branch

July 9, 2025