This week's most read content includes pending deals between Union Bankshares and Access National, First Merchants and MBT Financial, and Investar Holding and Mainland Bank.
Wells Fargo files for 1st postcrisis prime jumbo RMBS deal
Recent documents indicate that Wells Fargo & Co. has set in motion plans to securitize residential mortgage loans in what would mark the bank's first such transaction since the first quarter of 2008.
Union wants to go 'head to head' with big banks in wealthy Northern Virginia
Union Bankshares Corp. is aiming for a larger presence in the wealthy Northern Virginia market, where Access National Corp. has 15 branches. Building in the Washington, D.C., area will let Union go "head to head" with the big banks, its CEO said during a call.
First Merchants touts low-cost deposits gained with MBT purchase
Through its acquisition of MBT Financial Corp., First Merchants Corp. will enter the southern Michigan market, increase its assets to more than $10 billion and add high-quality, low-cost deposits.
First Interstate BancSystem buying 2 Idaho-based banks in $181.3M, $21.5M deals
The transactions are expected to close in the first half of 2019. They are expected to be about 3% accretive to First Interstate BancSystem Inc.'s earnings per share in the first full year after acquisition and beyond.
Investar Holding buying Mainland Bank in $19.9M deal
The deal is expected to be about 3% accretive to earnings in 2019, and 1% dilutive to tangible book value at closing.