29 Sep, 2025
BayFirst Financial exits SBA lending; Wells Fargo's new hires advise on PNC deal
Top stories
BayFirst Financial to sell $103M in SBA loans to Banesco USA, exit SBA lending
St. Petersburg, Florida-based BayFirst Financial Corp., the parent company of BayFirst National Bank, agreed to sell $103 million in Small Business Administration 7(a) loan balances to Miami, Florida-based Banesco USA, marking a strategic shift as the company exits the SBA lending business.
Wells Fargo new hires advise on PNC Financial's FirstBank acquisition
Several recently hired investment bankers at Wells Fargo Securities LLC worked on the firm's biggest US bank M&A advisory assignment in years, PNC Financial Services Group Inc.'s acquisition of FirstBank Holding Co.
Eastern Bankshares, HarborOne Bancorp receive regulatory approvals for deal
Eastern Bankshares Inc., the holding company for Eastern Bank, and HarborOne Bancorp Inc., the holding company for HarborOne Bank, have received all necessary regulatory approvals to complete their proposed merger.
Americans are spending more, saving less as tariffs start to sting
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More highlights
– First Busey Corp. named Christopher Chan, from F.N.B. Corp. unit First National Bank, CFO of the company and its subsidiary, Busey Bank, effective Sept 30.
– Fiserv Inc., a payments and financial services technology solutions company, agreed to acquire StoneCastle Cash Management LLC, a privately owned investment manager.
– Toronto-based wealth manager RF Capital Group Inc. said it has received the approval of the Ontario Superior Court of Justice to pursue its sale to insurance and wealth management services provider iA Financial Corp. Inc.
Chart of the day
Credit card net loss rates ticked up for the five biggest US credit card issuers in August after four straight months of declines.
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