Valley National Bancorp in New York had to raise its offer to strike a deal for Westchester Bank Holding in White Plains, N.Y. The $41.3 billion-asset Valley was the largest of seven bidders for the $1.3 billion-asset Westchester, according to a regulatory filing tied to the pending $210 million acquisition. Valley was coaxed to boost its offer by 6.5%, to $3,300 a share, to gain an exclusivity agreement. First, the details of

Orange County Bancorp in Middletown, N.Y., raised $35.2 in net proceeds from its initial public offering.The $1.9 billion-asset company said in a press release Monday that it sold nearly 1.2 million shares of common stock at $33.50 a share. About 150,000 shares were sold as part of the underwriters’ overallotment option.The company said in a prospectus that net proceeds could be used to support growth in areas such as lending

First Financial in Terre Haute, Ind., has agreed to buy Hancock Bancorp in Hawesville, Ky.The $4.8 billion-asset First Financial said in a press release Tuesday that it will pay $31.4 million in cash for the $334 million-asset parent of Hancock Bank & Trust. The deal is expected to close in the fourth quarter.First Financial, which is expanding into western Kentucky, said it expects the deal to be about 7% accretive

First BanCorp in San Juan, Puerto Rico, sold $52.5 million of nonperforming mortgages. The $21.4 billion-asset company disclosed in a quarterly regulatory filing that it received an unsolicited offer to buy the loans, along with $2 million of related servicing rights. First BanCorp said it received $31.5 million, or 58% of book value before reserves, for the loans and servicing rights. About $20.9 million of reserves are already applied to the

It only took Columbia Banking System in Tacoma, Wash., three months to hammer out its first bank acquisition in more than three years. The $17.3 billion-asset company agreed in June to buy the $1.8 billion-asset Bank of Commerce Holdings in Sacramento, Calif., for $266 million. The acquisition will provide Columbia with its first branches in California. Before we dive into the background of the deal, here is an overview of the pending

BTC Bank in Bethany, Mo., has agreed to buy Home Exchange Bank in Jamesport, Mo.The $704 million-asset BTC said in a press release that it expects to complete the purchase of the $148 million-asset Home Exchange later this year. BTC did not disclose the price it will pay.BTC will have 16 branches after the deal closes, including its first locations in Gilman City and Jamesport. “For 100 years, BTC Bank has

Arbor Bancorp in Ann Arbor, Mich., has revived plans to buy FNBH Bancorp in Howell, Mich. The $2.5 billion-asset Arbor said in a press release Monday that it will pay $116.5 million in cash for the $647 million-asset parent of First National Bank in Howell. The deal is expected to close by the end of this year. The companies originally announced plans to merge in February 2020 but called it

Sunnyside Bancorp in Irvington, N.Y., has received another offer from a would-be acquirer.Kenneth Torsoe, an investor in Suffern, N.Y., said in a press release Friday that he wants to form a holding company and buy the parent of Sunnyside Federal Savings and Loan Association for $20 a share in cash.The $99 million-asset Sunnyside agreed in July to accept an unsolicited offer from Rhodium BA Holdings valued at $14.9 million. That