Berkshire Hills Bancorp in Boston has agreed to sell its insurance business to Brown & Brown in Daytona Beach, Fla.The $12.3 billion-asset Berkshire said in a press release Tuesday that it will sell the assets and operations of Berkshire Insurance Group for $41.5 million. The deal is expected to close by the end of September.The insurance business, formed in 2000, offers personal and commercial property-and-casualty insurance.The sale is part of

The Western Bankers Association has cancelled the annual conference it was planning next month in Hawaii.The event was scheduled to take place from Sept. 9 to Sept. 14 in Waimea. The association said in a statement on its website that it was “a difficult decision” to make.“With the COVID situation in Hawaii rapidly getting worse, we regretfully will be cancelling our conference,” the statement said.“With the social gathering restrictions tightening

Scott Credit Union in Edwardsville, Ill., has agreed to buy Tempo Bank in Trenton, Ill. The $1.5 billion credit union said in a press release Friday that it plans to pay $14.3 million in cash for the $92.9 million-asset Tempo. The deal is expected to close in the second quarter of 2022.Tempo has two branches that serve about 5,000 customers. Scott Credit Union has 20 locations.“We are excited for the opportunity

Santander Consumer USA Holdings in Dallas has agreed to a deal that will bring it completely under the umbrella of majority shareholder Santander Holdings USA.Santander Holdings will pay $2.5 billion, or $41.50 a share, in cash for the remaining 20% stake in the subprime auto lender. The premium is roughly double what Santander Holdings offered last month.The deal is expected to close in the fourth quarter.The offer price represents a

Seacoast Banking Corp. of Florida in Stuart has agreed to buy Sabal Palm Bancorp in Sarasota, Fla., and Business Bank of Florida in Melbourne. The $9.3 billion-asset Seacoast said in a press release Monday that it will enter Sarasota and expand its operations in Brevard County with the purchases.Seacoast will pay $53.9 million in stock for the $412 million-asset Sabal Palm Bank, or a 167% premium to the seller’s tangible

The First Bancshares in Hattiesburg, Miss., plans to switch from a national bank charter to a state bank charter.The $5.5 billion-asset company disclosed in a regulatory filing Friday that its bank unit, The First, had filed an application with the Mississippi Department of Banking and Consumer Finance to convert to a state charter.The First also filed a notice with the Office of the Comptroller of the Currency, its current primary federal

Organizers of Gainey Business Bank in Scottsdale, Ariz., have secured conditional approval from the Federal Deposit Insurance Corp.The group must raise $15 million in initial capital before opening, according to the Aug 12 order.Gainey's organizers received approval from the Arizona Department of Financial Institutions in 2018 to start raising capital. They applied with the FDIC in January.Joe Stewart is expected to serve as the bank's president and CEO. He recently

Fairwinds Credit Union in Orlando, Fla., has agreed to buy Citizens Bank of Florida in Oviedo.The $3.9 billion-asset Fairwinds said in a press release Thursday that it plans to complete the purchase of the $489 million-asset Citizens in December. Fairwinds did not disclose the price it will pay.Citizens Bank has six branches in central Florida. Fairwinds said it will hold nearly 10.3% of the deposits in Seminole County after the