Company Overview and News

Trump signs bill easing post-2008 crisis restraints on banks

2018-05-25 sfgate
WASHINGTON — President Trump on Thursday signed into law a measure that loosens key restraints for banks imposed after the 2008 financial crisis and Great Recession. Savoring the legislative triumph, he called it “the next step in America’s unprecedented economic comeback.”

The US has more than 5,600 banks. Consolidation is coming

2018-05-23 cnbc
The US's banks have largely sat out the mergers and acquisitions wave of recent years. While deal records have fallen in almost every other sector, big banks have done almost nothing, shrinking rather than expanding. And merger activity among small and mid-sized banks — some 5,607 of them, at last count — has been subdued.

The surprise winners of the bank regulation roll-back

2018-05-23 money.cnn
The legislation, which garnered bipartisan support, will benefit thousands of community banks that had little to do with the 2008 financial crisis. Wall Street firms like JPMorgan Chase (JPM) and Goldman Sachs (GS), on the other hand, are not helped.

Fifth Third Bancorp-MB Financial Merger Marks A New Era For U.S. Banks

2018-05-23 seekingalpha
On May 21th, Fifth Third Bancorp (NASDAQ:FITB) announced a merger with MB Financial (NASDAQ:MBFI), a Chicago-based mid-sized bank. FITB will pay $4.7 billion, of which 90% will be in stock and the rest in cash. The deal is valued at a 2.8x P/B, which we view as a rich multiple.

Bill rolling back Dodd-Frank regulations goes to Trump

WASHINGTON (AP) — Congress moved to dismantle a chunk of the rules framework for banks, installed to prevent a recurrence of the 2008 financial crisis that brought millions of lost jobs and foreclosed homes.

House moves to dismantle post-crisis bank rules

2018-05-22 sfgate
WASHINGTON — Congress moved Tuesday to dismantle a chunk of the rules framework for banks, installed to prevent a recurrence of the 2008 financial crisis that brought millions of lost jobs and foreclosed homes.

Independent Bank to buy Guaranty Bancorp for about $1 bln

2018-05-22 reuters
(Reuters) - Independent Bank Group Inc said on Tuesday it would buy Guaranty Bancorp for about $1 billion to expand its operations in the state of Colorado.

Fifth Third (FITB) Fifth Third to Acquire MB Financial Conference (Transcript)

2018-05-22 seekingalpha
Fifth Third Bancorp (NASDAQ:FITB) Fifth Third to acquire MB Financial Conference Call May 21, 2018 9:00 AM ET

Fifth Third Bancorp: Overreaction To MB Financial Deal

2018-05-22 seekingalpha
Investors do not like the premium in terms of the book value and elevated earnings multiple, combined with aggressive synergy targets.

Cortland Bancorp Appoints Vice Chairman

2018-05-22 globenewswire
CORTLAND, Ohio, May 22, 2018 (GLOBE NEWSWIRE) -- Cortland Bancorp (the “Company”) (OTCQB:CLDB), the parent company of The Cortland Savings and Banking Company (the “Bank”), announced today that, effective immediately, its board of directors nominated and appointed Thomas P. Perciak as Vice Chairman of the Company board of directors. In his new role, Mr. Perciak will direct his focus toward overseeing corporate governance.

A look at bill to ease bank rules nearing Congress passage

Key elements of legislation that would ease bank regulation by rolling back parts of the Dodd-Frank law designed to prevent a repeat of the 2008-09 financial crisis.

Global dealmaking on pace to smash record books, already above $2 trillion this year

2018-05-22 cnbc
Worldwide dealmaking for 2018 topped the $2 trillion mark this week, on track for the biggest year for mergers and acquisitions ever, according to data from Thomson Reuters Deals Intelligence.

Fifth Third (FITB) Set to Acquire MB Financial for $4.7B

2018-05-22 zacks
Fifth Third Bancorp (FITB - Free Report) , headquartered at Cincinnati, OH, entered into a stock-cash acquisition deal with Chicago, IL-based MB Financial, Inc. (MBFI - Free Report) , under which the former will be merged with the latter, for a total value of $4.7 billion. The combined entity will form the fourth largest bank in Chicago, in terms of deposits, with a 6.5% market share. However, shares of Fifth Third depreciated 7.

MB Financial (MBFI) Soars: Stock Adds 12.9% in Session

2018-05-22 zacks
MB Financial, Inc. (MBFI - Free Report) was a big mover last session, as the company saw its shares rise almost 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $42.23 to $44.10 in the past one month time frame. The stock was driven after the company received a takeover bid from Fifth Third Bancorp.

Top Analyst Upgrades and Downgrades: DocuSign, Embraer, Goodyear Tire, Macy’s, Micron, Raytheon, Smartsheet and More

2018-05-22 247wallst
Stocks were sharply higher on Monday after trade tensions with China seem to be coming to quicker end, and the major equity indices were indicated higher on Tuesday as well. The trend of buying the dips has not worked as well as it has in prior years, and many investors have been considering how they want their investments positioned for the longer term.

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2018-05-25 - Asif

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