Monthly Archives: January 2019

Digital Lending Now an Expectation, Not an Advantage

Providing mortgage borrowers with a digital experience is no longer a competitive advantage but the new reality for mortgage lenders, according to the findings of a new study by STRATMOR Group, a mortgage advisory firm.


Chemical Financial Corp. and TCF Financial Corp. Announce Merger of Equals

Detroit-based Chemical Financial Corp. and TCF Financial Corp., headquartered in Wayzata, Minn., announced a definitive agreement under which the companies will combine in an all-stock merger of equals transaction. Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, TCF will merge into Chemical, and the combined holding company and bank will operate under the TCF name and brand following the closing of the transaction.


Credit Card Market Expands as Economy Sustains Robust Growth

Credit card use continued to increase in the third quarter of 2018, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Compared to the previous quarter, purchase volumes increased for both subprime and super-prime accounts, but moderated for prime accounts. On an annual basis, monthly purchase volumes rose across risk tiers, led by super-prime accounts (+10 percent), which saw their strongest year-over-year growth in nearly eight years. Super-prime accounts are held by consumers with the strongest credit.


What Are Bankers’ Top Priorities in 2019?

Customer acquisition, digital banking, cybersecurity, regulatory compliance and lending are the five key strategic focus and spending in the year to come, according to Computer Services Inc.’s “Banking Priorities Executive Report 2019.” The report, which surveyed 220 bankers across the nation, uncovers strategies, trends and issues financial institutions consider the most significant in the coming months.


Citizens Community Bancorp Inc. to Acquire F&M Bancorp of Tomah Inc.

Citizens Community Bancorp Inc., the parent company of Citizens Community Federal, N.A., Eau Claire, Wis., and F&M Bancorp of Tomah Inc., the parent company of Farmers & Merchants Bank of Tomah, Wis., announced an agreement for Citizens to acquire F&M and F&M Bank in a cash and stock transaction valued at approximately $21.6 million. F&M Bank, which has two branches in Tomah, has total assets of $194.6 million and total equity of $22.6 as of Sept. 30, 2018.

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