Rocket Companies in Detroit has agreed to buy Mr. Cooper Group in Dallas for $9.4 billion in stock. Rocket said in a press release that the deal will allow it to accelerate its artificial-intelligence-powered platform and "remove the friction and complexities plaguing today’s home buying process." The deal is expected to close in the fourth quarter, at which point Mr. Cooper will declare and pay a dividend of $2 a

HomeStreet in Seattle has a new agreement to sell itself four months after a deal to sell to FirstSun Capital Bancorp in Denver fell through. The $16.5 billion-asset Mechanics Bank in Walnut Creek, Calif., said in a press release that it will buy the $8 billion-asset HomeStreet in an all-stock transaction. While HomeStreet is issuing stock to Mechanics' shareholders, Mechanics' shareholders will own 91.7% of the company (Ford Financial Fund

FB Financial in Nashville, Tenn., has agreed to buy Southern States Bancshares in Anniston, Ala. The $13 billion-asset FB Financial said in a press release that it will pay $381 million in stock for the $2.8 billion-asset Southern States. The deal, which is expected to close in the fourth quarter, priced Southern States at 157% of its tangible book value. Southern States has 15 branches, $2.2 billion of loans and

Trustar Bank in Great Falls, Va., raised $16.7 million in fresh capital. The bank said in a press release that it planned to raise $15 million but the offering was 10% oversubscribed. Trustar was required to raise $55 million million when it opened in 2019; it raised another $18 million in July 2022. “We are incredibly grateful for the continued support from our investors," CEO Shaza Andersen said in the

Columbia Banking System in Tacoma, Wash., has agreed to pay $55 million to settle a nearly five-year-old lawsuit. The company disclosed in a regulatory filing that it entered into a court-ordered settlement for the lawsuit, filed in U.S. District Court in August 2020 by a group that claimed that a predecessor bank aided and abetted two commercial real estate borrowers that failed. A mistrial was declared on March 4 after

Touchmark Bancshares in Alpharetta, Ga., has a new CEO. The $449 million-asset company said in a press release that Bobby Krimmel had also become its president and joined its board. He succeeded J.J. Shah, who is retiring but will remain chairman. Krimmel recently served as chief financial officer at First Farmers and Merchants Corp. and as chief administrative officer of First Farmers and Merchants Bank. "We are excited to have

Mechanics Bancorp in Taunton, Mass., and MountainOne Financial in North Adams, Mass. have agreed to merge into a single mutual holding company. Mechanics, the MHC for Mechanics Cooperative Bank, and MountainOne, the MHC for MountainOne Bank, said their banks will continue to operate as separate entities with the same names, logos and brands. The new MHC will have nearly $1.9 billion in assets and 15 branches. Joseph Baptista Jr. will remain

First Guaranty Bancshares in Hammond, La., which has been dealing with credit issues and capital preservation, recruited a former bank CEO to join its board. The $4 billion-asset company disclosed in a regulatory filing that Bob Walker had become a director. He has not yet been added to any committees. Walker was president and CEO of Premier Financial Bancorp when it was sold to Peoples Bancorp in 2021. First Guaranty