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Eastern News - Page 2

Banesco USA Gets More than $11 Million in Capital to Fuel Growth

Banesco USA has received approximately an $11.9 million capital injection from its shareholders to continue its growth and technological innovations across south Florida in 2019. The increase in capital marks a highly successful year for the local bank.

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Indiana’s German American Bancorp to Acquire Citizens First in Kentucky

Jasper, Ind.-based German American Bancorp Inc. and Citizens First Corp. of Bowling Green, Ky., have entered into a definitive agreement to merge Citizens First in German American. Upon completion of the transaction, Citizens First’s subsidiary bank, Citizens First Bank Inc., will be merged into German American’s subsidiary, German American Bank.

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BancorpSouth Bank Announces Florida and Texas Acquisitions

Tupelo, Miss.-based BancorpSouth Bank announced definitive agreements to acquire Summit Financial Enterprises Inc., the parent company of Summmit Bank, N.A., in Panama City, Fla., and Van Alstyne Financial Corp., the parent company of Texas Star Bank in Van Alstyne, Texas. Pursuant to the agreement, the two banks will be merged into BancorpSouth Bank.

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Union Bankshares Corp. Completes Acquisition of Access National Corp.

Richmond, Va.-based Union Bankshares Corp. announced the completion of its acquisition of Access National Corp., Reston, Va. This transaction strengthens Union’s presence in Virginia’s most populous market in the north.

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First Citizens Bank and First South Bancorp Inc. Announce Merger Agreement

First Citizens Bank & Trust Co. and First South Bancorp Inc. announced a definitive merger agreement providing for the acquisition of Spartanburg, S.C.-based First South Bancorp by First Citizens Bank, which is headquartered in Raleigh, N.C.

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