Mississippi just passed a law that should severely restrict credit unions' abilities to buy banks in the state.The state is the latest to intervene in an issue of great importance to bankers. In fact, the Independent Community Bankers of America has pushed Washington to step in, either by blocking such seals or imposing a tax on credit unions that do buy banks. For now, it looks like most roadblocks will come

The Federal Deposit Insurance Corp. is moving forward on a request for comments tied to laws and regulations for bank mergers. The FDIC said on Friday that it had sent its proposal to the Federal Register for publication, which would start a 60-day period for public comments. The process will also seek comments on mergers between insured depository institutions and noninsured ones. “The FDIC is interested in receiving comments regarding the effectiveness of

Northrim BanCorp in Anchorage, Alaska, has a new bank president. The $2.7 billion-asset company said in a press release Friday that Michael Huston will succeed Joe Schierhorn on Saturday. Schierhorn will remain president and chief operating officer of the company and chairman and CEO of the bank. Huston will remain the bank’s chief lending officer. Amber Zins was named the bank’s chief operating officer. She most recently served the bank’s chief

Thompson Kane & Co., a mortgage lender in Madison, Wis., has agreed to buy Benton State Bank in Wisconsin. The mortgage lender said on Wednesday that it expects to complete the purchase of the $77 million-asset bank in the fourth quarter. It did not disclose the price it will pay. Benton State’s management team is expected to stay after the deal closes. Benton State “is over 125 years old and we are thrilled

Hancock Whitney in Gulfport, Miss., will do away with consumer nonsufficient funds fees, along with certain overdraft, fees by the end of this year. The $36.5 billion-asset company said in a press release that it will also increase its existing overdraft balance threshold to provide clients a bigger cushion before fees are assessed.The moves are expected to reduce the company’s service charges on deposit accounts by about $10 million to $11

Generations Bancorp NY in Seneca Falls is selling its insurance agency’s book of business. The $379 million-asset company disclosed in a regulatory filing Thursday that The Northwoods Corp. is buying the book of business, with payments expected to be made over a six-year period. The amount of the payments was not disclosed. Generations also said that Northwoods would assume customer service responsibilities for Generations Insurance Agency, effective April 1.

Farmers National Banc Corp. in Canfield, Ohio, has agreed to buy Emclaire Financial in Emlenton, Pa.The $4.1 billion-asset Farmers said in a press release Thursday that it will pay $105 million in cash and stock for the $1.1 billion-asset Emclaire. The deal, which is expected to close in the second half of this year, priced Emclaire at 144.7% of its tangible book value. William Marsh, Emclaire’s chairman, president and CEO, will

Mississippi has joined the ranks of states intervening to stop credit unions from buying banks. Gov. Tate Reeves signed into law legislation requiring that any assets or liabilities sold by state-chartered banks must be bought by institutions insured by the Federal Deposit Insurance Corp. “A bank chartered by the State of Mississippi may, with the approval of the [banking] commissioner, sell or transfer all, or substantially all, of its assets, liabilities, and