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Thursday Express: Indiana-based Merchants Bancorp to buy Illinois bank

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According to Market Intelligence, December 2022

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Thursday Express: Indiana-based Merchants Bancorp to buy Illinois bank

* The Office of the Comptroller of the Currency found around 20,000 accounts with compliance issues during a review of retail banks' sales practices, the regulatory agency's head Joseph Otting said at a House Financial Services Committee hearing yesterday.

* Capital One Financial CFO Richard Blackley said during an investor presentation that bank regulators should update the existing U.S. capital framework to accommodate the impending credit loss standard.

* Carmel, Ind.-based Merchants Bancorp is buying Paxton, Ill.-based FM Bancorp and unit Farmers-Merchants National Bank of Paxton for $21.9 million.

* Macon, Ga.-based MidCountry Financial is selling its Minnesota-based unit MidCountry Bank to MidCountry Acquisition.

* HomeStreet Bank is planning to close, consolidate or reduce space in 19 single family home lending centers, among other things, as part of the parent HomeStreet Inc.'s efforts to streamline mortgage banking operations.

* Blackstone Group is said to have hired JPMorgan to help gauge market interest for the Australian data centers held by its DCI Data Centers portfolio company, The Australian Financial Review's Street Talk reports.

* And fintech firm InvestCloud acquired London-based rplan Ltd., a provider of client engagement technology, for $20 million.

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