Strategic Insights into Banking & Fintech

First Merchants to buy First Savings Financial in Indiana

First Merchants to buy First Savings Financial in Indiana

First Merchants in Muncie, Ind., has agreed to buy First Savings Financial Group in Jeffersonville, Ind. The $18.6 billion-asset First Merchants said in a press release that it will pay $241.3 million in stock for the $2.4 billion-asset First Savings. The deal, which is expected to close in the first quarter, priced First Savings at 135% of its tangible book value. First Savings has 16 branches,  $1.9 billion of loans,

September 25, 2025
Copper State CU in Phoenix brings in $17M from sale-leaseback deal

Copper State CU in Phoenix brings in $17M from sale-leaseback deal

Copper State Credit Union in Phoenix entered into a sale-leaseback transaction for four of its branches. MountainSeed Real Estate said in a press release that it paid $17 million for the locations. Copper State entered into a 15-year lease agreement for the properties, with renewal options. “This strategic transaction unlocks capital that will fuel our investment in cutting-edge digital solutions and enhanced member services while maintaining our strong community presence,”

September 24, 2025
Capital One to cut nearly 400 Discover jobs

Capital One to cut nearly 400 Discover jobs

Capital One Financial in McLean, Va., plans to cut nearly 400 Discover jobs. Capital One said in a Sept. 15 WARN Notice that it plans to eliminate 382 positions over time. The first cuts, involving 366 positions, will take place on Nov. 17, and the last cuts will take place in early March. About 200 of the jobs are in Riverwoods, Ill. Eighteen people work remotely in Illinois, and 165

September 24, 2025
FIS buys loan origination software firm Amount

FIS buys loan origination software firm Amount

FIS in Jacksonville, Fla., has acquired Amount, a Chicago fintech that provides deposit and loan origination software. FIS said in a press release that Amount's solutions simplify the online account opening experience for banks, lenders and credit unions. The price wasn't disclosed. "After years of successful partnership, we are thrilled to welcome Amount’s talented team and innovative capabilities to FIS,” Stephanie Ferris, FIS president and CEO, said in the release.

September 24, 2025
WaFd in Seattle freed from CFPB consent orders

WaFd in Seattle freed from CFPB consent orders

WaFd in Seattle has been freed from two consent orders from the Consumer Financial Protection Bureau. The company disclosed in a regulatory filing that its Washington Federal Bank has been released from two orders, issued in October 2013 and October 2020. The orders were tied to the bank's Home Mortgage Disclosure Act program.

September 24, 2025
Mid Penn agrees to buy 1st Colonial in New Jersey

Mid Penn agrees to buy 1st Colonial in New Jersey

Mid Penn Bancorp in Harrisburg, Pa., has agreed to buy 1st Colonial Bancorp in Mount Laurel, N.J. The $6.4 billion-asset Mid Penn said in a press release that it will pay $101 million in cash and stock for the $877 million-asset 1st Colonial. The deal, which is expected to close in the first or second quarter, priced 1st Colonial at 116% of its tangible book value. One 1st Colonial director

September 24, 2025
CFPB lifts consent orders against Apple, U.S. Bancorp

CFPB lifts consent orders against Apple, U.S. Bancorp

The Consumer Financial Protection Bureau terminated consent orders against Apple and U.S. Bancorp ahead of schedule. The CFPB terminated an October 2024 consent order with Apple that had alleged that the tech giant failed to send thousands of Apple Card consumer disputes to partner bank Goldman Sachs. The bureau said that Apple had paid its $25 million penalty, which it cited as the main reason to end the enforcement action

September 24, 2025
Ballston Spa Bancorp to buy NBC Bancorp in New York

Ballston Spa Bancorp to buy NBC Bancorp in New York

Ballston Spa Bancorp in Ballston Spa, N.Y., has agreed to buy NBC Bancorp in Coxsackie, N.Y. The $912 million-asset Ballston Spa said in a press release that it will pay $26 million in stock for the $400 million-asset NBC. The deal is expected to close in the second quarter. John Balli, NBC's president and CEO, will become president of the combined company. "The combined company will have a larger market

September 24, 2025