trending Market Intelligence /marketintelligence/en/news-insights/trending/lbNW384KA00seLnhxrx9aA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

2 banks set to cross $10B asset mark

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

2 banks set to cross $10B asset mark

Olney, Md.-based Sandy Spring Bancorp Inc. and Toms River, N.J.-based OceanFirst Financial Corp. are set to cross the $10 billion threshold as a result of pending acquisitions.

The $10 billion mark remains a key boundary for banking institutions. After a bank hits that size, debit card interchange income can drop by half due to restrictions imposed by the Durbin amendment, part of the landmark Dodd-Frank Act. Most institutions try to jump over the threshold by a wide margin to offset the lost revenue.

Sandy Spring agreed to acquire Rockville, Md.-based Revere Bank on Sept. 23. The acquisition, once completed, will push the bank over the $10 billion mark. The company also agreed to acquire Falls Church, Va.-based Rembert Group Inc., an asset management firm, on Nov. 6.

OceanFirst Financial's two pending acquisitions of Tinton Falls, N.J.-based Two River Bancorp and New York-based Country Bank Holding Co. Inc., announced Aug. 9, will help the company cross the $10 billion threshold. As of Sept. 30, the company reported $8.14 billion in total assets.

Wyomissing, Pa.-based Customers Bancorp Inc., which crossed the $10 billion mark again earlier this year, reported $11.73 billion in total assets as of Sept. 30. According to the third-quarter earnings call, the bank reclassified about $500 million of multifamily loans to held-for-sale in the second quarter, and it expects additional runoffs along with natural contraction in mortgage warehouse balances in the fourth quarter to bring total assets below $10 billion by the end of the year.

SNL Image