In Ohio, Warsaw Federal Savings and Loan Association, an independent mutual bank based in Cincinnati, agreed to affiliate with First Mutual Holding Co. in a deal
In Nebraska, Cornerstone Bank agreed to acquire Security Home Bank and Malmo Insurance Agency in a deal
In Iowa, South Ottumwa Savings Bank applied with the Federal Deposit Insurance Corp. to acquire Albia, Iowa-based Peoples State Bank. Financial terms of the deal
To wean them off the London interbank offered rate, or Libor
Nasdaq is trying to quell initial public offerings of small Chinese companies
The Office of the Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corp. issued a final rule raising the appraisal exemption
After the House of Representatives, the Senate approved Sept. 26 the funding for the continued operation of the Small Business Administration's 7(a) program
The Malaysian government intends to bring up to the High Court Oct. 22 the 1MDB
Meanwhile, Goldman's three-year-old consumer bank Marcus
The U.S. Securities and Exchange Commission made two units of Bank of Montreal pay more than $37 million to settle charges of failing to tell clients about certain aspects of how the companies selected investments in their retail investment advisory program. The SEC found that the program, known as the Managed Asset Allocation Program
Morgan Stanley and Bank of America Corp., both known to cater to older, wealthy families, are looking to start relationships with young professionals by building on their employee benefits management businesses
The National Credit Union Administration is considering regulating transactions that involve credit unions acquiring banks
Hedge fund launches
In other parts of the world
Asia-Pacific: US denies report on delisting Chinese firms; Japanese banks in Aramco IPO
Europe: Commerzbank sees more costs; Barclays fined; EC extends Dexia guarantees
Middle East & Africa: Saudi insurers Walaa, MetLife AIG ANB to merge; Kenya expects more bank M&A
Now featured on S&P Global Market Intelligence
Bank M&A 2019 Deal Tracker: First Defiance deal tops September 1st half: Seven U.S. bank deals were announced in the first half of September, the largest of which was First Defiance Financial Corp.'s agreement to acquire United Community Financial Corp. in a deal valued at $474.8 million, according to S&P Global Market Intelligence data.
Buying banks 'absolutely' a good growth strategy for credit unions, leaders say: Membership growth at credit unions that have acquired banks outpaces the rest of the industry. Since the fourth quarter of 2015, credit unions that have purchased banks grew membership 22.7%, while other credit unions only grew membership 15.1%, according to S&P Global Market Intelligence data.
De novo banks class of 2019 — Chicago-based FWBank files: Chicago-based FWBank filed to form a new bank on Sept. 23, marking the 13th de novo application of 2019 and the state's first application of the year.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, Hang Seng lost 0.33% to 25,954.81, while the Nikkei 225 dropped 0.77% to 21,878.90.
In Europe, around midday, the FTSE 100 slipped 0.25% to 7,407.99, and the Euronext 100 shed 0.06% to 1,092.48.
On the macro front
The Chicago PMI and the Dallas Fed Manufacturing Survey are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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