The Federal Reserve has freed SunTrust Bank from a November 2019 consent order it handed down before approving the bank's sale to BB&T in the deal that created Truist Financial.SunTrust was hit with the order due to unfair and deceptive practices tied to "misleading or inaccurate statements" it made between 2013 and 2017 about the operation and billing for certain add-on products. The Fed noted that SunTrust had already ended

Let's take a look at some of the behind-the-scenes action for Bank of Marin Bancorp's pending purchase of American River Bankshares in Sacramento, Calif.First, a review of the deal's terms:Bank of Marin, a $3.1 billion-asset company in Novato, Calif., agreed to buy the $916 million-asset American River on April 19 for $134.5 million in stock. The deal, which is expected to close in the third quarter, priced American River at

HomeTrust Bancshares in Asheville, N.C., plans to close nine branches in three states as part of a broader efficiency effort. The $3.6 billion-asset company said in a press release Tuesday that it will also restructure its balance sheet and bring Small Business Administration loan servicing in-house. The moves are expected to increase annual pretax income by $10.1 million. HomeTrust said the initiative should also increase return on assets by 20

Pinnacle Financial Partners in Nashville, Tenn., will enter Huntsville, Ala., after hiring nine former bankers from BBVA USA.The $35 billion-asset Pinnacle said in a press release Monday that it brought on four financial advisers, a credit adviser, an office leader and three support and processing associates. The group is led by Jason Baldwin, a former market CEO for North Alabama at BBVA. Baldwin will serve as Pinnacle’s Huntsville regional president. Baldwin

Cornerstone Home Lending in Houston has agreed to buy Roscoe State Bank in Texas.Cornerstone did not disclose the price it will pay for the $213 million-asset Roscoe State or when it expects to complete the acquisition. The acquisition "will allow Cornerstone to significantly expand product and service offerings to our hundreds of thousands of customers and referral sources throughout the country, will provide a vast array of additional home lending products

We're trying a new format to make content about a merger's background easier to digest. Rather than provide a lengthy article based of the regulatory filing, we' re going to include bullet points highlighting key aspects of a deal.First, the proposed deal's financials:New York Community in Westbury agreed on April 26 to buy Flagstar Bancorp in Troy, Mich., for $2.6 billion in a deal that is expected to close by

Brookline Bancorp in Boston is shaking up several top executive posts.The $8.6 billion-asset company said in a press release Monday that Paul Perrault, its CEO, has also become its chairman. He succeeded Joseph Slotnik, who will serve as Brookline’s lead director. Brookline also promoted two executives to serve as co-presidents, succeeding Perrault. Michael McCurdy had been the company’s general counsel and chief risk officer, while Carl Carlson had been chief financial and

CrossFirst Bankshares in Leawood, Kan., will enter Phoenix after hiring a former CIT Group banker.The $6 billion-asset company said in a press release Monday that it Kevin Halloran will become its Phoenix market president.“We believe Phoenix is a great opportunity given the region’s favorable demographics, strong population, and business growth,” Mike Maddox, CrossFirst’s president and CEO, said in the release.“As an entrepreneurial bank, we are excited about the opportunity to