This week's most-read content includes articles on Wells Fargo CEO Timothy Sloan's testimony before the Senate's banking committee, MutualFirst Financial's pending deal with Universal Bancorp and Bank of Montreal's planned cross-border auto loan securitization.
Investors say Wells CEO absorbs senators' verbal punches
Two investors said Wells Fargo & Co. CEO Timothy Sloan was able to stand his ground amid a barrage of criticisms from members of the Senate's banking committee during a hearing on Oct. 3.
Large banks among biggest winners in corporate tax reform
Big banks, including Wells Fargo, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and U.S. Bancorp, would be among the largest beneficiaries of tax reform, saving billions of dollars if the proposed measures take effect.
Troy Bank & Trust acquiring First National Bank of Brundidge
In Alabama, Troy Bank & Trust Co. is buying First National Bank of Brundidge in a deal that would form a $929 million institution. The deal is expected to close in the first quarter of 2018.
MutualFirst Financial deal expected to improve liquidity
MutualFirst Financial Inc. President and CEO David Heeter said Universal Bancorp's "attractive core deposits and stable markets" played a key role in the deal.
Another big Canadian bank pursues cross-border auto loan securitization
Bank of Montreal's Canadian Pacer Auto Receivables Trust 2017-1 is planning to issue $500 million in class A notes, as the company stands to become the second Canadian bank in the last several years to issue U.S. dollar-denominated securities.