Raymond James Financial in St. Petersburg, Fla., has agreed to buy TriState Capital Holdings in Pittsburgh. Raymond James, parent of the $35 billion-asset Raymond James Bank, said in a press release Thursday that it will pay about $1.1 billion in cash and stock for the $12 billion-asset TriState. The deal is expected to close in next year. TriState “has a terrific, client-centric franchise focused on serving clients with premier private banking,

Banner Corp. in Walla Walla, Wash., plans to close 15 branches as part of a broader efficiency effort. The $16.6 billion-asset company said in a presentation Thursday that its Banner Forward program will also involve reducing office and operations space and minimize third-party spending. The goal is to lower annual expenses by $15 million in 2022 and by $25 million the following year. About 60% of the cost savings will come from

Cambridge Bancorp in Cambridge, Mass., closed two branches during the third quarter. The $4.5 billion-asset company said in a press release Tuesday that it shuttered offices in Wellesley Square, Mass., and Pease Tradeport, N.H. It also moved its Concord, N.H., wealth management office to a new location. Cambridge recorded $787,000 of expenses tied to the moves. The company’s net income fell slightly from a year earlier, to $13.3 million.  Noninterest expenses, including the

Monit, a Boston fintech that has created a financial platform for small businesses, has become the first investment for JAM FINTOP Banktech, an investment fund that is targeting tech firms. Monit said in a press release that the investment also includes a commercial partnership with the fund, which is backed by 66 small and midsize banks. JAM FINTOP Banktech is a created  by JAM Special Opportunity Ventures, an affiliate of Jacobs

Third Coast Bancshares in Humble, Texas, could raise $75 million as part of a planned initial public offering. The $2 billion-asset parent of Third Coast Bank filed its registration statement with the Securities and Exchange Commission on Friday. The company did not disclose how many shares it will sell or the potential pricing; it said the amount of capital was provided for calculating the registration fee. Third Coast said it

Investar Holding in Baton Rouge, La., plans to recognize a $21.6 million loan-loss provision in the third quarter tied to hurricane damage to a borrower’s collateral.The $2.7 billion-asset company said in a regulatory filing Thursday that the provision is tied to multiple loans with an outstanding aggregate loan balance of $40.4 million.  The loans are secured by various types of collateral. Hurricane Ida, which hit in August, significantly reduced the

BankFirst Capital in Columbus, Miss., has agreed to buy F.B.H. Corp. in Fayette, Ala. The $1.8 billion-asset BankFirst said in a press release Thursday that it expects to buy the parent of the $223 million-asset Citizens Bank of Fayette in the fourth quarter. BankFirst did not disclose the price it will pay. "We are excited about the proposed acquisition … and believe the cultural alignment between our organizations is strong,” Moak

Peoples Financial Services in Scranton, Pa., plans to record a large gain in the fourth quarter after its sells Visa shares. The $3 billion-asset company said in a regulatory filing that its bank on Oct. 8 agreed to sell nearly 45,000 Class B shares, adding that the entire purchase prices will be realized as a pretax gain.  The sale is expected to settle later this month with the gain to be