trending Market Intelligence /marketintelligence/en/news-insights/trending/Gh00X6u_5lQzd1Tolzzn-Q2 content esgSubNav
In This List

Thursday Express: Heartland Financial in $93.9M deal; BB&T Q4'18 profit rises


According to Market Intelligence, December 2022


Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes


Spotlight on sustainability: How banks can overcome the challenges of achieving net-zero emissions by 2050


Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Thursday Express: Heartland Financial in $93.9M deal; BB&T Q4'18 profit rises

* Winston-Salem, N.C.-based BB&T reported net income applicable to common shares of $754.0 million, or 97 cents per share, in the fourth quarter of 2018, up from net income of $614.0 million, or 77 cents per share, in the same quarter of 2017.

* Dubuque, Iowa-based Heartland Financial USA is buying Overland Park, Kan.-based Blue Valley Ban Corp. in an all-stock deal valued at about $93.9 million.

* Kalispell, Mont.-based Glacier Bancorp is acquiring Layton, Utah-based FNB Bancorp in a deal valued at $85.0 million.

* In Arkansas, Farmers and Merchants Bankshares is buying Mountain Home Bancshares and unit Integrity First Bank in a deal expected to close in the second quarter.

* Cleveland-based KeyBank is acquiring Darien, Conn.-based Laurel Road Bank's digital lending business in an effort to improve its digital capabilities.

* Rep. Alexandria Ocasio-Cortez, D-N.Y., who has voiced support for more stringent regulations in the banking industry, is among those nominated by the House Democratic Steering and Policy Committee to join the House Financial Services Committee. The Republican Steering Committee has nominated five members to join the committee.

* During an earnings call, Goldman Sachs Chairman and CEO David Solomon apologized to the Malaysian people over former Goldman Sachs banker Tim Leissner's role in the 1Malaysia Development Bhd. scandal.

* Bank of America is planning to appoint Jack MacDonald and Tom Sheehan co-heads of global investment banking, replacing current head Diego de Giorgi, sources told the Financial Times.

* Comptroller of the Currency Joseph Otting said several nondepository fintech companies are close to completing the preliminary application for a special-purpose national bank charter.

* Private U.S. property/casualty insurers booked a $4.7 billion net underwriting gain in the first nine months of 2018 thanks to a decline in overall losses and loss adjustment expenses and significant premium growth, according to ISO and the American Property Insurance Association.

* Martine Ferland was appointed president and CEO of Mercer, a unit of insurance broker Marsh & McLennan, effective March 1.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.