26 Oct, 2021
Simmons First hunting for more M&A; FDIC abstained from climate change report
Top stories
Simmons First hunting for more in-market bank M&A
Simmons First National Corp. is looking for even more bank deals after closing two acquisitions this month, making four whole-bank deals for Simmons First over the last three years.
FDIC abstained from climate change report over lack of 'nuanced analysis'
The Federal Deposit Insurance Corp. did not sign off on an interagency report about the risks of climate change to the financial sector because the report lacked sufficiently "nuanced analysis," said Jelena McWilliams, chairperson of the FDIC.
Bank regulators to issue crypto roadmap in coming weeks, FDIC Chairman says
The interagency crypto policy sprint team comprised of the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Federal Reserve Board expects to issue their guidance for banks to participate in cryptocurrency-related financial services in the coming weeks, according to FDIC Chairman Jelena McWilliams.
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Big banks post YOY EPS growth in Q3 as credit reserve releases continue
Bank M&A backlog builds as deals await Fed approval
Fridson: Rethinking industry allocation
More highlights
* Independent Bank Group Inc. remained upbeat on asset quality despite an uptick in nonperforming assets during the third quarter.
* BNY Mellon Wealth Management appointed Karen Sugihara regional fiduciary manager.
* M&T Bank Corp. announced a $43 billion, five-year community growth plan that would provide loans, investments and other financial support for low- to moderate-income areas and communities of color.
* BTIG LLC appointed John Phillips managing director in fixed income credit division.
Chart of the day
Rising deal activity and a rocky political environment have produced a logjam of large bank deals awaiting Federal Reserve approval — and a clearing is not yet in sight. While the median time to close for completed deals has not yet moved up significantly, there are 12 pending bank deals with values of more than $1 billion at announcement.
Editor's pick
Banks inking branch deals by coming to terms with multiple acquirers