Bank News: M&A news and approval times, charter updates, and bankers go to jail!
Bank News: First Financial buys Finward Bancorp in $208MM deal. Northrim BanCorp acquires PBCO Financial Corp in $167.3MM deal. Gesa Credit Union acquires Willamette Valley Bank. Mechanics & Farmers Bank will merge with Optus Bank. Upstart receives conditional bank charter from the OCC. Wise’s trust bank charter is rejected by the OCC over deficiencies. Former Bank of the Valley CFO, Aaron Luneke, sentenced to 36-month prison term for $4.3M loan scheme. Former TD Bank assistant store manager, Wilfredo Aquino, sentenced to prison for money laundering and fraud involvement. GOP lawmakers press the Fed to increase bank M&A approval timelines. Democrats grill new CFPB nominee, Brian Johnson, over his ties to Capital One and potential staff-cuts. This episode reviewed multiple articles from Banking Dive.
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